1001 O St Greeley, CO 80631-9596
- Warehouses
- 14,400 SF
- 2.85 lot acres
Dec 21, 2022
Current Use by Public Records
- Parker & Co Auctioneers / Trade Show Venue / (Bike/Boat/Book/etc) Store
- Greely Storage / Storage Facility
- Prairie View Ranch Partners, LLC / Corporate Office
- Prairie View Ranch Water District / Corporate Office
- Affordable Secure Storage / Storage Facility
Property Details for 1001 O St
- Year built
- 1997
- Lot size
- 2.85 lot acres
- Property size
- 14,400 SF
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- R1279386
- APU
- R1279386
Description
This Greeley, Colorado self-storage facility presents a compelling investment opportunity. Located at 1001 O St, 80631, in Weld County, this single-story, 26,000 square foot facility boasts 196 units and sits on a 2.94-acre lot. Built in 1956 and renovated in 1996, the property offers a mix of climate-controlled indoor and outdoor storage options, featuring fully automated services. Currently operating at 80% occupancy, the facility generates a Net Operating Income (NOI) of $149,020, representing a 5.52% cap rate. Pro-forma projections indicate a 6.51% cap rate and a NOI of $175,716 upon reaching full occupancy by October 29, 2024. The asking price is $2,700,000, translating to $103.85 per square foot and $13,775.51 per unit. The property is classified as Class C, multi-tenancy, and is categorized as a stabilized investment. The seller is open to considering a trade or owner financing options. This well-performing asset offers significant potential for growth and strong returns. The net rentable square footage is 24,926 square feet.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,325,000
- ML approach
- $1,310,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $977,000
Market price range: $534k - $1.76M -
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $2,065,000 Current use
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Location Insight
- Map
- Local Demand
- City
- Greeley
- County
- Weld
- State
- Colorado
- Longitude
- -104.695
- Latitude
- 40.4534
- CBSA code
- 24540
- CBSA name
- GREELEY, CO METROPOLITAN STATISTICAL AREA