Arizona is a highly desirable state for Self-Storage, particularly in the Phoenix MSA, which is ranked 9th among the fastest-growing metros in the United States. Maricopa County, within which Phoenix is located, has a population of 4.8 million people and a strong focus on attracting top 500 companies. The Phoenix MSA is expected to continue its growth and establish itself as one of the leading municipalities in the country. This offering presents an opportunity to acquire a newly constructed Self-Storage conversion supplemented by the income of EOS Fitness on a long-term triple net lease.
The property. situated at 1661 South Alma School Road, is conveniently located with freeway visibility just off Highway 60 which boasts 260,000+ daily traffic volume. Renovated in 2016 and expanded
in 2022, the single-story facility consists of 76,787 NRSF, spread across climate controlled (60,437 NRSF), non-climate drive-up and RV units (16,350 NRSF). There is an additional 42,528 NRSF occupied by EOS Fitness on a long-term triple-net lease through 2037. The project totals 9.63 acres and provides for potential expansion opportunities for future enclosed RV/Boat or Drive-Up storage. The Self-Storage facility opened in 2016 and is currently 83% occupied. This opportunity presents an investor a unique opportunity to acquire a value-add opportunity through future lease-up and upside of the Self-Storage facility supplemented by the income of the EOS Fitness.