iStorage

Property Title

4620 Pan American Freeway
Albuquerque, NM 87109

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investment highlights

  • Currently 91.4 Percent Physically Occupied
  • Convenient Access From Interstate 25 and Montgomery Blvd – Combined 192,054 Cars Per Day
  • Superior Construction and Location to Competitors
  • Strong Historic Occupancy, Upside Through Rental Rate Increases
  • Dense Infill Located Near Various National Retailers – Costco, Home Depot, REI, and Sam’s Club
  • On-site Apartment Generating Additional $6,060 of Revenue Per Year

property summary

iStorage is a 40,930 net rentable square foot facility located in Albuquerque, New Mexico comprised of 318 climate and non-climate controlled units. Built in 1996, the property features seven single story buildings that are of metal construction with standing seam roofs. The property is fully fenced and gated with keypad access and is under 24-hour video surveillance. There is also an on-site apartment that is being rented to a third party that generates an additional $6,060 in revenue each year.

iStorage is strategically located near the Interstate 25 and Montgomery Boulevard  Interchange with convenient access from both roadways. The facility features a large back-lit billboard sign that is visible from both I-25, which has traffic counts of 144,531 per day, and from Montgomery Boulevard with traffic counts of 47,514 per day.

The property is located near numerous large apartment communities, single-family neighborhoods, and large retail shopping centers. Nearby retailers include Costco, Home Depot, REI, and Sam’s Club, to name a few. The property is situated in a densely populated area with approximately 92,557 people and 41,668 households in a three-mile radius with an average household income of $62,171.

iStorage is currently 91.4 percent physically occupied and 94.7 percent economically occupied. This is an excellent opportunity for a new investor to capitalize on a well occupied asset with upside through pushing rental rates to better reflect the properties superior location and construction. The infill location and strong demographics surrounding the property should ensure a well performing asset for years to come.

Broker Information

Adam Schlosser

First Vice President

Phone: 303.328.2044
Email: aschlosser@marcusmillichap.com
License: CO FA100050407

Charles "Chico" LeClaire

Executive Managing Director

Phone: 303.328.2025
Email: cleclaire@marcusmillichap.com
License: CO EA00147681

Matthew Reeves

Broker of Record

Phone: 505.355.4520
Email: mreeves@marcusmillichap.com
License: NM 19583

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