620 & 836 E Grand Avenue,  Fruita CO, 81521-3032

Status: Active
MLS#: 20196454
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Last Updated: 4/1/2020 1:07 PM
Description for 620 & 836 E Grand Avenue Fruita, CO 81521-3032
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.
Price
$850,000
20196454
Active
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.
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Property Type: Other
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Fruita Real Estate

Fruita is located in Colorado. Fruita, Colorado 81521-3032 has a population of 13,222.

The median household income in Fruita, Colorado 81521-3032 is $48,868. The median household income for the surrounding county is $44,576 compared to the national median of $50,013. The median age of people living in Fruita 81521-3032 is 39 years.

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This content last refreshed on 4/1/2020 1:07 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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