Tempe Storage Co. – Tempe, Arizona

Read more about this closed sale here.

General Description

The investment opportunity is an income producing self storage facility which is leased to a mix of household and commercial storage tenants. The property, Tempe Storage, is located just steps away from Arizona State University. The property’s location benefits from direct street frontage, a clean appearance, large units for commercial customers and a location within the neighborhood it serves.

The property provides the only Air Conditioned Storage in the trade area.The improvements consist of 3 buildings totaling 51,856 square feet. There are 87 units of drive up storage, 315 units of climate controlled storage and 37 parking spaces for storage of vehicles. Construction is of block exterior and steel frame interior partitions on a concrete foundation. The roof is metal and drive aisles are asphalt. Access controls are composed of block fencing with a keypad controlled gate.

Market Overview

Tempe is located in the center of the Greater Phoenix Metropolitan Area, Tempe is an easy commute, especially with a great transportation systems and light rails. Just 10 minutes from Sky Harbor International Airport and not much further from downtown Phoenix. location is just one reason that Tempe is a workforce importer, with approximately 150,000 people employed in this city of just 161,000 residents.

Total population within 1, 3 and 5 miles is approximately 23,057, 135,224 and 322,084 respectively. Average household income within a 5-mile radius is approximately $55,000. Tempe’s top employers include companies such as State Farm Insurance, Insight Computers, Arizona State University, Wells Fargo, Edward Jones, and US Airway.