- 75,325 Net Rentable Square Feet | 506 Drive Up and Interior Units
- Currently 90.3 Percent Physically Occupied and 72.6 Percent Economically Occupied
- Conveniently Accessible from U.S. Route 287 and Interstate 25
- Strong Market Fundamentals, Average Market Occupancy Exceeding 90 Percent
- Northern Colorado Expected to Double in Population by 2050
- On-Site Managers Apartment
Kangaroo II Self-Storage is an excellent opportunity to acquire a stabilized asset in the rapidly growing Loveland market. The property is located just off 14th Street SW, a busy four lane corridor with traffic counts of 14,917 per day. 14th Street intersects Highway 287 just east of the property and serves as the most efficient way to access Interstate 25 on the south end of Loveland. The surrounding area is saturated with single family neighborhoods and small business/industrial parks.
The property spans 75,325 net rentable square feet comprised of 506 drive up and interior non-climate controlled units. The facility is fully fenced and gated with keypad access and is under 24-hour video surveillance. There is also an onsite apartment connected to the leasing office for a full-time manager.
There are approximately 87,496 people and 35,427 households within a file mile radius of the property with an average household income of $75,305. Northern Colorado continues to be one of the fastest growing areas in the state and is predicted to double in population by 2050. Just a mile north of the property, downtown Loveland is undergoing a revitalization with a new development under construction called The Foundry. The development spans three city blocks and will offer 155 luxury apartments, restaurant space, a 102-room hotel, movie theater and a central community plaza scheduled to be completed in early 2019. Another $500 Million large scale development called The Brands at The Ranch is currently in the works in northeast Loveland. The mixed-use project will bring another 2.6 million square feet of commercial space and approximately 1,200 multi-family units to the area.
Kangaroo II Self-Storage is 90.3 percent physically occupied and 72.6 percent economically occupied presenting an incoming investor with a proven, well-performing asset with upside through increasing rates on existing tenants and increasing street rates over time. The property is currently owner operated and a new investor would benefit greatly from the implementation a professional management platform that utilizes advanced revenue management and marketing systems. There are currently no REIT’s or large professional management companies in the Loveland market, however there is an Extra Space managed facility that recently opened on the north side of town which should raise market rental rates in the long run.