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A&C Storage – Pinetop-Lakeside, Arizona

Description

Read more about this closed sale here.

General Overview

The improvements consist of six self storage buildings, one structure for covered RV storage and one residence. There are over 100 units of drive up self storage and 45 RV storage spaces.  Construction is steel on concrete foundations.  All interior partitions are steel. All buildings have pitched metal roofs with steel doors. Drive aisles are gravel.  There are two access point with a gate controlled entry and exit.

The property has excellent visibility with frontage on high traveled State Highway 260 and is well positioned for substantial increases in revenue, cash flow and investment value over time.

Market Overview

Pinetop–Lakeside is a popular summer resort and second-home area for many Arizona residents. The town is located along AZ Highway 260 about 180 miles Northeast of the Phoenix Metro and 150 miles Southeast of Flagstaff. It rests in the White Mountains of Arizona at an elevation of 6,804 feet. An area that, contrary to most people’s expectations of Arizonan landscapes, is known for its thick forests, snowcapped mountains, and numerous streams and lakes. The town of Pinetop-Lakeside is truly an outdoorsman’s paradise and has created a strong growing economy centered around its proximity to natural amenities.

Currently the population of the town is roughly 4,700. Though, the population within a 10-mile radius of the subject property is nearly 15,000. This is due to its close proximity to the city of Show Low, the economic hub of Eastern Arizona. These numbers, however, underestimate the true population. The local economy benefits from a strong tourism industry. There are many people who own a second home in this area and even more who visit during the summer and winter in order to enjoy Pinetop-Lakeside’s numerous natural amenities.

Since 1998 the amount of money generated from tourism in the Navajo County has grown by nearly $110 million. The Arizona Office of Tourism estimates that roughly $300 million were spent by visitors in 2015. More than $100 million of that $300 million were generated from money spent on private and vacation homes. This goes to show the strength and stability of the tourism industry in Pinetop-Lakeside. A vast majority of these visitors aren’t one time tourists stopping by for the weekend. They are part time inhabitants that play a significant role in the economy. Furthermore, these numbers have been growing year after year as more and more people discover the outdoorsman’s paradise that the White Mountains offer.

Regular tourists and part-time residents are frequent users of self storage facilities.  It’s a practical decision for these people to store their RVs, boats, dirt bikes, ATVs, camping equipment, and other toys stored at their regular vacation spot to avoid the hassle of packing for the trip and the additional fuel costs associated with hauling back and forth.  This and second home construction activity are two reasons storage facilities in areas such as Pinetop/Lakeside/Show Low can be profitable investments.  That the number of regular visitors is growing in the area, is a good sign for the storage industry.

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Gorden Group Associate
Gorden Group Associate

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