This 70,281 net rentable square foot facility includes 517 climate-controlled first-floor units and 18 climate-controlled drive-up units totaling 535 units, as well as 4 RV & boat parking spaces with gated access. It includes premium features including gated access, 24/7 surveillance, and a drive thru loading area.
The 3-mile trade area boasts a dense population of 152,254 people with strong growth trends benefitting from recent migration trends. Located at the intersection of W Greenway Rd and N 35th Ave, the facility has exceptional visibility with approximately 64,000 annual average daily traffic volume. The facility is also located in close proximity to many fast-food restaurants, grocery stores, and retail locations, as well as easy access to Interstate 17.
With physical occupancy at 90% and economic occupancy at 55%, the strong migration trends provide ample opportunity for revenue growth and rate increases as Phoenix continues to be one of the fastest-growing metros. This facility also boasts an impressive in-place net operating income of just under $1MM.