$6,850,000

416 Cr 501

Bayfield CO, 81122

Description

Bayfield Storage is a 431 unit (75,500 Net Rentable Sqft) facility, stabilized, operating at 97% occupancy. There is development potential of approximately .5 contiguous acres to the property with previously approved engineering plans. The accompanying storm water retention system has already been installed. Solar panels were recently installed to further improve the efficiency of the operation. The facility is fully fenced with an electronic security gate. With high local and regional consumer demand of storage facilities, coupled with generally low supply of established storage facilities and the high barrier to entry for development and new construction of such, this opportunity represents a risk mitigated solution for investors and/or operators. Across the self storage industry, 2020 proved to show a temporary constriction of the market, however short lived, ending the year very strong revenues and occupancy rates across the board. Locally, this facility mirrored the industry performance, closing out 2020 with historically strong revenue (Averaging $32,800/month in NET Operating Income) and strong occupancy trending into 2021; setting a precedence for anticipated high activity for the year. Interest rates remain low, representing strong leverage for buyers. As the perceived economic uncertainty maintains, the self storage asset class continues to prove itself as a recession resilient opportunity gaining more and more interest and demand. Full offering memorandum available upon request.

Details

MLS#778791
Listing TypeFor Sale
StyleIQWeb_Mixed Use
Sub-TypeResale
StatusPending - Show
Year2006
Days On Site79

Features

SQ Feet75,500
Story(s)1
Units431
ZoningCommercial/Warehouse/Stg

Market Activity 81122

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Area Information
StateCO
CountyLa Plata
CityBayfield
Zip Code81122
AreaBayfield In Town
Listing VS Median (in 81122)
Price:
$6,850,000
low | high
Med:
$330,000
100% of Average
SqFt:
75,500
low | high
Med:
1,501
100% of Average
$ / SqFt:
$91
low | high
Med:
$220
92.320205021469% of Average
On Site:
79
low | high
Med:
18
100% of Average
Sourced by Back At You
Listing Updated: May 6, 2021 8:37:28 PM PDT
Katherine Sumrall LogoMLS Number: 778791
Listing Provided By:
Katherine Sumrall  of  Keller Williams Realty Southwest Associates LLC

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