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AA Val U Stor – Yuma, Arizona

Description

Read more about this closed sale here.

General Information

The investment opportunity is an income producing Self Storage and RV Storage which is leased to a mix of household and commercial storage tenants. The improvements consist of twenty four self storage buildings totaling 144,210 rentable square feet, one office/ workshop building totaling 3,120 square feet and one – two story residence for the site manager totaling 2,467 square feet. The property was initially constructed in 1999 with phased expansions in 2002, 2004 and 2005.

Construction is steel and block (perimeter walls) on concrete foundations with one inch raised interiors. All interior partitions are steel. All buildings have steel roofs and doors. The 13×43 units have electric roll up doors. Drive aisles are asphalt and all retention basins tie together. There are three access points including two keypad/ sensor controlled entry and exit gates and one sensor controlled exit only gate. The property has an installed photovoltaic solar panel system resulting in negligible electricity expense for a facility of this size offering fully HVAC cooled storage. Visibility is excellent from both 32nd Street and Avenue 3E. The property enjoys the recent addition of a programmable LED sign.

Location Information

YUMA, ARIZONA is located in the southwestern corner of Arizona along Interstate 8 and the eastern bank of the Colorado River. It shares a border with California to the west and Mexico to the south. Yuma is one of the fastest growing metro areas in the Unites States and is the largest city in Arizona outside of the Phoenix and Tucson metro areas.

Yuma County has a population of approximately 203,345 full time residents. Both its climate and location along the Colorado River make it a popular tourist haven year around, especially for snowbirds. With the arrival of sun-seeking snowbirds, the population nearly doubles during the peak travel months.

Agriculture plays a dominant role in the Yuma County economy, representing an annual gross economic return of $3.2 billion, or more than one-third of Arizona’s annual total of $9.2 billion. In fact, about 90 percent of all the leafy vegetables grown in the U.S. from November through March are grown in and around the Yuma area. Notably, Yuma farmers have the seniormost water rights in the seven state Colorado River watershed.

Military presence at the Marine Corps Air Station Yuma (the most active air station in the Marine Corps) and the nearby Yuma Proving Grounds (one of the largest military installations in the world), together with an influx of winter visitors every year, are responsible for continued population growth in both the city and the county.

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