BMB Secure Mini Storage

• Dense and Affluent Submarket: In a 3-mile radius, the average household income is $160,295. In a 5-mile radius, the average household income is $154,953. Population in a 3-mile radius is 52,408 and population in a 5 mile radius is 168,385. This mixture of a dense population, high average income, and a large amount of HOA communities is perfect for self-storage demand. Additionally, the population growth projections are 3.1% and 3.4% respectively, showing continued growth in this submarket.
• High Barrier of entry market: Boulder County is notorious for being incredibly strict on self-storage developments, creating a high barrier of entry for competition to open in the short- and long-term future. Additionally, much of the open land around the property is owned by Boulder County, making future development highly unlikely.
• Strong Physical occupancy, Low economic occupancy: This facility currently has 157/192 units occupied which is a strong 81.77% physical occupancy with no advertising. The seller and his partners currently occupy 21 units that do not produce any income. These are desirable units with 17 being 10x10s and 2 being 10x15s (2 5x10s as well). This offers a new operator the opportunity to rent out these desirable units and dramatically increase the revenue of the facility day 1 by putting paying customers into these units.
• Drive up units below replacement cost: Currently offered at $106.90 / NRSF, this property is being offered below replacement cost in one of the most desirable and fastest growing cities in the nation.
• Residential construction is booming in this area: There are more than 17 residential projects planned or under construction in a 3-mile radius, and 53 in a 5-mile radius. These projects have an estimated cost of ~850 Million in a 3-mile radius and a 3.12 billion dollar in a 5-mile radius showing strong investment in the local community. This growth, accompanied by a high barrier of entry, provides security and demand for self-storage units for decades to come.