Self-Storage Facility with Climate
For Sale
Contact for pricing
615 South Mesa Street, Fruita, CO 90731
Heartland Storage offers 363 units across a 2.50-acre site with climate-controlled options and 88.29% physical occupancy.
Property Size44,150 SF
Lot Size2.50 Acres
Price / SF$110.99
Days on Market121
Property Features for 615 South Mesa Street
General Information
Standard status
Active
Size
44,150 SF
Class
B
Lot size
2.50 Acres
Property subtype
Self Storage
Occupancy
88%
Investment Type
Value Add
Net Operating Income
$287,857
Building Details
Year Built
1996
Year Renovated
2023
Units
363
Tenancy
Multi
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #177814
(888) 737-2264
Source:
Crexi
Added: Jun 22
Changed: Oct 19
Last Checked: Oct 19 at 3:55AM
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 Bang Realty
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Investment Insights
Based on property information with market context.
Heartland Storage is a Class B self-storage facility comprising 363 units totaling 44,150 NRSF, situated on a 2.50-acre lot. Built in 1996 and expanded in 2023, the property features a mix of vintage and newer construction. The facility is currently 88.29% physically occupied, and the asset is positioned as a renovation and value-add acquisition opportunity focused on operational stabilization.
The property is located at 615 South Mesa Street in Fruita, Colorado. The remarks note that it is the largest facility in its immediate vicinity and that it offers highly desirable climate-controlled units. The local market is described as serving a growing population within a 3-mile radius of Fruita and benefiting from outdoor recreation tourism. Demographics cited include a $84,103 median household income within 5 miles.
The property is located at 615 South Mesa Street in Fruita, Colorado. The remarks note that it is the largest facility in its immediate vicinity and that it offers highly desirable climate-controlled units. The local market is described as serving a growing population within a 3-mile radius of Fruita and benefiting from outdoor recreation tourism. Demographics cited include a $84,103 median household income within 5 miles.
Key Highlights
- Heartland Storage self‑storage facility built in 1996 and expanded in 2023
- 363 units totaling 44,150 NRSF on a 2.50‑acre lot at 615 South Mesa Street, Fruita, CO
- 88.29% physically occupied, offering room to improve through strategic lease‑up
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$412,795
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,255,900
$8.3M
Cap Rate 7%
$5,897,071
$5.9M
Cap Rate 9%
$4,586,611
$4.6M
Market Conditions
NOI Build-Up for 44,150 SF
Gross rent
$513.9K $11.64/SF
− Vacancy
−$28.3K −$0.64/SF
EGI
$485.6K $11.00/SF
− OpEx
−$72.8K −$1.65/SF
NOI
$412.8K $9.35/SF
Area
Mesa County, CO
Vacancy
5.50%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,255,900
Cap Rate 7%
$5,897,071
Cap Rate 9%
$4,586,611
Alternative Uses
Best Use
Warehouse
$5.90M
$5.16M – $6.88M
NOI $412,795 @ 7.0% cap · market cap 8.42%
Second Best
Self Storage
$3.18M
$2.78M – $3.71M
NOI $222,377 @ 7.0% cap · market cap 4.54%
Theoretical Best
Healthcare Medical
$83.78M
$73.31M – $97.75M
NOI $5,864,886 @ 7.0% cap · market cap 119.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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Trade Area within ½ mile
511
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Self storage facility - Heartland Storage offers 363 units across a 2.50-acre site with climate-controlled options and 88.29% physical occupancy.
Where is this self storage facility located?
The property is located at 615 South Mesa Street Fruita, CO.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Heartland Storage self‑storage facility built in 1996 and expanded in 2023; 363 units totaling 44,150 NRSF on a 2.50‑acre lot at 615 South Mesa Street, Fruita, CO; 88.29% physically occupied, offering room to improve through strategic lease‑up
