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NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Key facts

Building Area

Property description

Location - The property is situated along the south side of East Warner Road, between North Arizona Avenue and South McQueen Road in Chandler, Maricopa County, Arizona.

Acres - +/- 4.56 acres (198,634 square feet)

Frontage - +/- 450 feet along the south side of East Warner Road

Traffic Count - +/- 30,000 VPD

Utilities - Water and sewer services are provided by the City of Chandler. Electric service is provided by Salt River Project. Telephone service is provided by Cox Business. Trash service is provided by Republic Services.

Year Built - The facility was constructed in 1996

Construction Detail - The facility is comprised of six, single-story buildings and one covered parking structure.

Elevator Details - There are no elevators (all single-story buildings)

Apartment - There is a two bedroom/one bathroom apartment on-site which is approximately 1,000 square feet in size.

Office - The facility has two offices – the front office is approximately 200 square feet in size and the back office is approximately 100 square feet in size.  

Climate Controlled - The facility is approximately 12% climate controlled.

Features and Amenities - The facility has electronic access control, secure fencing, 24-hour video surveillance, individually alarmed units, climate controlled units, drive-up units and covered parking units.

Personnel - The property employs two people who work a total schedule of approximately 50 hours per week.

Management - The property is professionally managed by Central Self Storage.

Software - The facility uses Site Link software for the management of tenants.

Security - The facility is equipped with a 24-hour video surveillance system.

Operation Hours (Office) - Monday through Friday - 10:00 am to 6:00 pm; Saturday – 8:00 am to 2:00 pm; Sunday - Closed

Operation Hours (Access) - Monday through Sunday - 7:00 am to 9:00 pm

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Offering Price - Unpriced

Rentable Square Feet - 63,117

Effective Rental Rate - Climate Controlled - $20.38 psf / Non-Climate - $13.24 psf

Number of Units - 573

Current Occupancy - Economic – 69% / Physical – 96%

Offer Deadline - July 27, 2021

Investment highlights

Upside Potential  - With a current physical occupancy over 96% and a current economic occupancy over 69%, the property is poised for revenue growth through rate increases to in-place tenants and continued market rate optimization. 


Prominent Visibility and Access  - The property has over 450 feet of frontage along the south side of East Warner Road, a heavily traveled east/west thoroughfare with a traffic volume of over 30,000 vehicles per day, resulting in excellent visibility and customer awareness. Additionally, the property is situated approximately 0.50 miles away from North Arizona Avenue and North McQueen Road, two prominent north/south roadways. As a result of the property’s East Warner Road location and proximity to North Arizona Avenue and North McQueen Road, it is easily accessible to a wide ranging customer base. There is also a dedicated turnaround area adjacent to the property, providing safe and easy ingress and egress for both traffic directions. 


Strong Demographics with Projected Growth - There are over 151,000 residents with an average household income of over $90,000 within a three-mile radius of the property. The population and income levels in the surrounding area are projected to steadily increase over the next five years.


Thriving Submarket in Top-10 MSA  - Central Self Storage is located in Chandler, Arizona, which is part of the Phoenix MSA. The Phoenix MSA is the 10th largest MSA in the country and consistently ranks as one of the top metro areas for population growth. The significant influx of young, educated talent, as well as major corporate relocations have established Phoenix as a very stable job market. As of December 2020, Phoenix, has fared fourth best in employment retention across major metropolitan areas. Through it’s focus on the “101 Tech Corridor,” Chandler has produced one of the fastest growing high-technology manufacturing locations in the West, together with other significant industries including financial services, retail, and health care.

Last Updated Date: 14 Sep 2021
Carl Beardsley
Carl Beardsley
Director, Capital Markets
Steve Mellon
Steve Mellon
Managing Director, Capital Markets

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Last Updated Date: 14 Sep 2021

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