Listing Agency: Hoff & Leigh Show Phone

Listed By: Tim Leigh · License #EA314631 Show Phone

Source: Moodyscre

Added: Jul 10, 2023 Changed: Sep 10 Last Checked: Sep 12 at 6:37AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hoff & Leigh

Investment Insights

Based on property information with market context.

The Big Foot Self Storage facility is now for sale. This property generates approximately $116,004 in actual gross annual rent. Annual expenses, including taxes, insurance, maintenance estimate, and management, are approximately $25,367. The total building area is 10,225 square feet, divided into 7 buildings with sizes of 400, 550, 950, 1,225, 1,500, 2,700, and 3,400 square feet. The unit mix includes 4 car stalls, eight 10’ x 5’ units, seventeen 10’ x 10’ units, twenty-two 10’ x 15’ units, twenty-one 10’ x 15’ units, one 15’ x 15’ unit, and one 20’ x 20’ unit. The facility is fairly new with no expected deferred maintenance. Situated on 1.91 acres, the property is zoned CCR-t. Located between Colorado Springs and Woodland Park, this property offers an investment opportunity with nearly 400 linear feet of highway frontage, providing roadside visibility and easy access for customers. The units stay full, with only one vacant unit currently. The annual property tax is $7,868, and the annual property insurance is $6,099.

Key Highlights

• Generates approximately $116,004 in gross annual rent with a 6% cap rate.
• Excellent location between Colorado Springs and Woodland Park with nearly 400 linear feet of highway frontage.
• High occupancy rate with only 1 vacant unit currently.

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$97,915

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

7.00%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,958,300 $2.0M

Cap Rate 7%

$1,398,786 $1.4M

Cap Rate 9%

$1,087,944 $1.1M

Market Conditions

NOI Build-Up for 10,225 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$147.2K $14.40/SF

− Vacancy

−$7.4K −$0.72/SF

EGI

$139.9K $13.68/SF

− OpEx

−$42.0K −$4.10/SF

NOI

$97.9K $9.58/SF

Area

El Paso County, CO

Vacancy

5.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,958,300

Cap Rate 7%

$1,398,786

Cap Rate 9%

$1,087,944

Alternative Uses

Best Use

Self Storage

$1.40M

$1.22M – $1.63M (±1% cap)

NOI $97,915 @ 7.0% cap · market cap 7.00%

Second Best

Industrial

$1.00M

$877.9K – $1.17M (±1% cap)

NOI $70,233 @ 7.0% cap · market cap 5.02%

Theoretical Best

Multifamily LT 5

$136.35M

$119.30M – $159.07M (±1% cap)

NOI $9,544,321 @ 7.0% cap · market cap 682.22%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Self storage facilities

Suggested Use

Top Pick HVAC Service Auto Repair Shop (Bike/Boat/Book/etc) Store Storage Facility Building Supply Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

55

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Self storage facility - Self-storage facility generating $116,004 gross annual rent for sale.

Where is this self storage facility located?

The property is located at 8775 US Highway 24 Cascade, CO.

What is the asking price?

The asking price for this property is $1,399,000.

What are key features of this property?

This property features: Generates approximately $116,004 in gross annual rent with a 6% cap rate.; Excellent location between Colorado Springs and Woodland Park with nearly 400 linear feet of highway frontage.; High occupancy rate with only 1 vacant unit currently.