- Value-Add through Improving Occupancy
- Tax Benefits through the Opportunity Zone
- 4.5 Acres of Additional Land, Zoned for Light Industrial
- Strong Population Growth in the Boise MSA
- High Traffic Area
- Opportunity to Increase Rentals through Online Marketing
The Storage Company is a value-add self storage facility located in Nampa, Idaho, 20 minutes west of Boise, within an Opportunity Zone. The property currently features 555 rentable spaces, 408 drive-up, enclosed storage units and 147 outdoor parking spaces. Additionally, the property includes approximately 4.5 undeveloped acres The property was originally built for agriculture uses in 1957 and converted to self storage circa 1995. The facility is fully-fenced and gated with keypad access and is under 24-hour video surveillance with monitoring accessible off-site.
The Storage Company is located just east of Franklin Boulevard which supports 20,000 vehicles a day and just north of 11th Avenue North that serves 21,500 vehicles a day. The facility is also in close proximity, three quarters of a mile, from Interstate 84 that serves 84,500 vehicles a day. The property has frontage on Franklin Boulevard and a future owner could explore gaining access from Franklin which would dramatically improve visibility. The facility is in located in the heart of Nampa in one of the fastest growing MSA’s in the United States. The Boise MSA is growing twice as fast as the USA as a whole and is projected to grow 10.2 percent over the next five years.
The investment opportunity includes four parcels totaling 8.8-acres and a total of 95,962 net rentable square feet including RV, Outdoor, and enclosed storage. The facility is currently 54 percent occupied and a new owner will benefit from completing the lease up and stabilizing the facility. Included on the property is a two-bed one bath-on-site residence for the manager. New ownership will benefit by creating an online presence, facilitating online rentals, and implementing a professional management system. New ownership could also gain tax advantages through the Opportunity Zone by developing the additional 4.5 acres and improving the existing facility.