$16,460,000 | 74,798 SF | Simply Storage - Colorado

Simply Storage - Colorado CA & More Information

Colliers is pleased to present the opportunity to acquire Simply Storage, an institutional‑grade self‑storage facility located at 4911 W. 58th Avenue in Arvada, Colorado. The property is comprised of 74,798 rentable square feet across 618 units, featuring a diverse unit mix ranging from 5’ x 5’ to 30’ x 50’ designed to meet a wide spectrum of tenant demand. Improvements include a three‑story climate‑controlled building, four single‑story drive‑up buildings, a single-story  makers units building, and a two‑story management office. Phase I was delivered in 2014, with Phase II completed in 2023, resulting in a modern, well‑maintained asset that meets current institutional standards. A 226.56 kW rooftop solar system services the climate‑controlled building and is expected to eliminate electricity operating expenses while generating approximately $50,000 in annual production, providing a material long‑term operating advantage.

Situated on approximately 2.44 acres, Simply Storage offers a best‑in‑class tenant experience anchored by modern access‑control systems with multiple lift gates, two freight elevators, multiple covered loading areas, and an on‑site management office with a three‑bedroom, two‑bath resident manager’s apartment. The facility is enhanced by premium features including ambient music throughout the property, motion‑activated LED lighting in hallways and units, and comprehensive security provided by 38 high‑definition surveillance cameras, all contributing to tenant experience and retention.

Arvada, Colorado is a mature, high‑income suburban market approximately 10 miles northwest of Downtown Denver and is part of the Denver–Aurora–Lakewood MSA.  The local economy is highly diversified, with strong access to I‑70, Highway 36, Wadsworth Boulevard, and RTD’s G Line, allowing efficient connectivity throughout the Denver metro area. Within a five‑mile radius, the property serves over 398,000 residents and 175,000 households, with average household income exceeding $128,000, providing consistent demand and rent growth. Yardi data indicates a five‑mile self‑storage saturation of 7.57 square feet per capita, with only 3.24 square feet per capita dedicated to climate‑controlled units, highlighting favorable supply‑demand dynamics for modern product in a constrained development environment.  Critically, the City of Arvada has enacted a moratorium on new self‑storage development, effectively eliminating near-term new supply risk and enhancing long‑term operating stability.

Offered at $16,460,000, Simply Storage is projected to generate an approximate 17.1% leveraged IRR, providing investors the opportunity to acquire a high‑performing, defensively positioned asset with demonstrated cash flow and upside potential through enhanced revenue management and ancillary income optimization.