F&R Grand Avenue Mini Storage – Peoria, Arizona

General Overview

F&R Grand Avenue Mini Storage is a two story climate controlled storage facility constructed in 2008. The facility was one of the first air conditioned storage options in the area. This facility has been seller managed since construction and has consistently been below market average in both occupancy and revenue collected.

This self storage facility offers investors a chance to acquire a property in a major metropolitan area with several options for upside potential. There is a real and easily attainable chance to significantly raise economic occupancy through immediate implementation of modern management practices including eliminating discounts and credit loss. Furthermore, there remains the potential to increase physical occupancy by another 30% through the implementation of basic marketing practices. Finally, there is also an opportunity to expand the facility while increasing its visibility. There are currently two unoccupied small retail buildings (not a part of this offering) located in front of the storage facility that have the potential to be acquired. This is an investment opportunity with significant upside potential.

Market Overview

Peoria, a suburb in Northwest Metropolitan Phoenix, is a city on the rise. Peoria is now establishing itself as an emerging center for innovation. The city’s outstanding recreation opportunities and great quality of life have attracted a highly-skilled and educated workforce.

Peoria offers dozens of premiere vacant sites of various sizes along major arterials, as well as two mega sites that are prime locations for corporate and industrial projects. The city has identified key investment zones, such as the P83 Entertainment District and Old Town redevelopment opportunities, in addition to targeted initiatives that focus on university recruitment and healthcare, along with bioscience entrepreneurship and incubation.

Peoria Sports Complex is the spring training and player development home of the Seattle Mariners and San Diego Padres. It also hosts athletic and special events year-round. Downtown Peoria comes alive with Pioneer Days and Fall Fest. Activities include parades, cowboy poetry, car shows, and live entertainment. Peoria’s annual “Holidaze” is a winter festival with fireworks, arts and crafts, and a winter wonderland. Mexican Independence is honored with a Fiestas Patrias celebration in September. The 25,000-acre Lake Pleasant Regional Park offers water-oriented recreation. A new full service marina is open at Pleasant Harbor. White Tanks Regional Park, in Maricopa County, features petroglyphs and natural rock water tanks.

The City of Peoria offers a broad range of community facilities including a community center, two swimming pools, two libraries, 17 parks (243 acres), three golf courses, nine lighted multi-purpose ball fields, and 15 tennis courts. The 143-acre Peoria Sports Complex features 11 lighted major league baseball fields. The Peoria Center for the Performing Arts consists of a 280-seat main stage auditorium and an 80-seat black box theater designed to bring award-winning community theater to downtown Peoria. Phoenix metropolitan area recreational opportunities are many and varied. Professional sports, yearly professional golf and tennis events, horse and dog racing, and cultural pursuits ranging from symphony to theater and numerous art galleries, shows and museums may be found within the Valley.

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