8775 Us-24Cascade-Chipita Park, CO 80809

Property Details for 8775 Us-24

Property size (Sq ft)

10,225 SF

Property type

Self storage facilities

Description

This exceptional self-storage facility, located at 8775 US-24 in Cascade-Chipita Park, Colorado (zip code 80809), presents a compelling investment opportunity. The property boasts a total of 10,225 square feet across seven buildings of varying sizes (400 SF, 550 SF, 950 SF, 1,225 SF, 1,500 SF, 2,700 SF, and 3,400 SF), situated on a 1.91-acre lot. The facility features a diverse unit mix including four car stalls, eight 10'x5' units, seventeen 10'x10' units, twenty-two 10'x15' units, twenty-one 10'x15' units, one 15'x15' unit, and one 20'x20' unit. Currently, only one unit is vacant, demonstrating high occupancy rates. The property generates substantial annual gross rent of approximately $116,004, with annual expenses estimated at $25,367 (including taxes, insurance, maintenance, and management). This results in a net operating income (NOI) that supports the asking price of $1,812,754, representing a 5% cap rate. The property benefits from nearly 400 linear feet of highway frontage, ensuring excellent visibility and accessibility. Zoned CCR-t, this nearly new facility requires no anticipated deferred maintenance. Annual property taxes are $7,868, and annual insurance is $6,099. The seller is open to negotiation, making this an attractive passive investment opportunity in a prime location between Colorado Springs and Woodland Park.

Location Insight

City

Cascade-Chipita Park

County

El Paso

State

Colorado

Latitude

38.9163

Longitude

-104.983

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