Mixed-Use Property with Climate-Controlled
New
For Sale
$4,950,000
924 Spring Creek Rd, Montrose, CO 81403
Storage and industrial operations share a site with a secured yard in Montrose.
Property Size43,903 SF
Lot Size3.05 Acres
Price / SF$135.61
Days on Market2
Property Features for 924 Spring Creek Rd
General Information
Standard status
Active
Size
43,903 SF
Lot size
3.05 Acres
Property subtype
Mixed-Use
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Cap Rate
5.12%
Warehouse Space
17,500 SF
Amenities
Rents Well Below Market - Both industrial and self storage rents sit well below market, with 12.5% contractual increases at each Ferguson renewal, a clear path to growing NOI and returns.
Supply-Constrained Industrial Market - Little to no competing industrial space nearby leaves Ferguson few relocation options, reinforcing renewal and protecting the buyer's income
Tourism and Logistics Hub - Montrose anchors the Uncompahgre Valley, and its airport moves 502,790 passengers a year as the gateway to Telluride and other nearby resorts.
Investment-Grade Anchor with Long Tenure - Ferguson (NYSE: FERG) carries Baa1/BBB+ ratings and has operated out of this branch continuously, since 2002. Below-market rent, a site outside city limits that avoids Montrose's 3.88% sales tax, and almost no comparable space make renewal the likely path.
Rare Climate-Controlled Storage - Climate-controlled storage is scarce on the Western Slope, and in-place storage rents run 51.3% below market across 144 units. The format commands premium rents that the competing sites cannot match, giving the buyer a differentiated income stream.
Building Details
Building Size
43,903 SF
Year Built
1992
Year Renovated
2024
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Adam Lewis · License #License(s) CO: ER100091205
(303) 328-2000
Source:
Marcusmillichap
Added: Oct 16
Last Checked: Oct 16 at 2:20PM
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 Marcus & Millichap - Denver
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Investment Insights
Based on property information with market context.
At 924 Spring Creek Road in Montrose, this mixed-use property combines 19,003 square feet of climate-controlled self storage with 17,500 square feet of industrial space and a secured yard. The storage component includes a second floor over part of the building, added through renovations in 2022 and 2024. The effective year built is 1990; the separate year-built field records 1992, so neither date is presented as a definitive original construction year.
Ferguson Enterprises has operated at this location for 24 years. Its regional distribution activity serves the West Slope, supplying plumbing/PVF and HVAC parts for residential and commercial development and maintenance. Montrose is identified as the regional hub of the Uncompahgre Valley, with a population of 20,291.
Ferguson Enterprises has operated at this location for 24 years. Its regional distribution activity serves the West Slope, supplying plumbing/PVF and HVAC parts for residential and commercial development and maintenance. Montrose is identified as the regional hub of the Uncompahgre Valley, with a population of 20,291.
Key Highlights
- 19,003 square feet of climate‑controlled self storage
- 17,500 square feet of industrial space
- Secured yard on a 3.05‑acre property
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
Explore this area
Business Placement
Demographics for 81403, CO
11,987
Population
5,355
Households
2.2
Avg Household Size
49
Median Age
35%
College-Educated
93%
High-School Grad
505.7 sq mi
ZIP Area
24
Density / Sq Mi
$73,636
Median Household Income
$40,789
Median Earnings
$1,335
Median Rent
$481,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Storage and industrial operations share a site with a secured yard in Montrose.
Where is this mixed-use property located?
The property is located at 924 Spring Creek Rd Montrose, CO.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 19,003 square feet of climate‑controlled self storage; 17,500 square feet of industrial space; Secured yard on a 3.05‑acre property
