$850,000

620 & 836 E Grand Avenue

Fruita CO, 81521

Description

Cornerstone Storage serves the rapidly growing community of Fruita with 12,785 rentable square feet from 91 units of self storage, 640 rentable square feet from 3 units within two shipping containers, and 30 rentable RV parking spots. In addition to the fenced and gated RV parking this facility is secured and monitored by Five security cameras. The high density residential neighborhood surrounding this property provides consistent close proximity clientele. Strong rental rates and consistently high unit occupancy has served Cornerstone Storage well. However this investment opportunity leaves room for income growth through increasing discounted leases from friends and family rates, potentially adding more shipping containers to rent, and updating revenue and expense management. The NOI is $66,331 Proforma through 2019 based on YTD figures which is a 7.8% Cap Rate.

Details

MLS#20196454
Listing TypeFor Sale
Sub-TypeResale
StatusPending - Show
Days On Site89

Features

Story(s)0
ZoningCommercial

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Area Information

StateCO
CityFruita
Zip Code81521
AreaFruita
Listing VS Median (in 81521)
Price:
$850,000
low | high
Med:
$213,394
100% of Average
On Site:
89
low | high
Med:
568.5
15.655233069481% of Average
Listing Updated: 02/18/2020
MLS Number: 20196454
Listing Provided By:
MICHAEL CHERRY  of  HOMESMART REALTY PARTNERS

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Grand Junction Area REALTOR Association MLS.