- Price: $4,900,000
- Trailing 12 CAP Rate: 6.3%
- Total Storage NRSF: 67,505
- The Facility is 95 Percent Physically Occupied
- There is a Population of 72,967 Within Five Miles
- Nation-Leading Area Population Growth
- Located in the Popular Coeur d’Alene Market
- The Five Closest Competitors are all 99+ Percent Occupied
All Storage Northwest is an excellent opportunity to acquire a stabilized asset in the rapidly growing and popular Coeur d’Alene Idaho market. The property was built just two years ago and has already reached 95 percent physical occupancy, a testament to the strong demand for storage in the local market. There are 67,505 net rentable square feet comprised of 500 drive-up and interior non-climate controlled units as well as 32 interior climate controlled units. The facility is fully fenced, well lit, gated with keypad access, and is under 24-hour digital video surveillance. A self service kiosk was installed in June 2018 which will increase service capabilities and decrease future payroll costs.
There are approximately 72,967 people and 28,389 households with an average household income of $64,239 within a file mile radius of the property. From 2000 to 2010 the 5-mile population around All Storage Northwest grew an impressive 35 percent and is projected to grow an additional 11 percent in just five years time. Coeur d’Alene is the fastest growing metro area in Idaho, and Idaho is the fastest growing state in the country due to people fleeing California in favor of Idaho’s low cost of living and outdoor lifestyle.
All Storage Northwest is 95 percent physically occupied and 85.6 percent economically occupied, presenting an incoming investor with a proven, well-performing asset with upside through increasing rates on existing tenants and offering tenant insurance. Coeur d’Alene has nowhere to expand but north, and All Storage Northwest is in that path of growth.