Matthews Logo

Navigation Menu

4801 Central Ave NW, Albuquerque, NM, 87105

Zia Storage

$1,500,000

Key Information

Cap Rate
7.77%
$ per SF
$104
Tot. SF
14,370
Lot Size
1.41 Acres
Units
211
Year Built
2024 (R)
Type
Self Storage
Occupancy
49.04%
NOI
$66,648

Highlights

• Located Directly Off Route 66/ Central Ave – This road sees more than 28K VPD providing great visibility to renters traveling from the east to west.
• Physical Occupancy of Less Than 50% – This facility underwent a major renovation in late 2024 that kicked all tenants out of the property. After a heavy value add lift, the owner started renting again and has now increases the occupancy to ~49% but left a huge amount of value to still be added for the next owner through continued leasing, rent increases, and modernizing operations
• Mom and Pop Owner – This facility is the only self-storage property this owner has owned. There is little to no advertising done currently, and the online website is outdated offering a purchaser the opportunity to modernize operations and increase overall business operations.
• Desirable Demographics – There are 43,813 people in a 2-mile radius and over 225,485 people in a 5-mile radius.
• Opportunity to Purchase Below Replacement Cost – With excess land for future expansion and/ or additional revenue through small business rentals.
• Demising Interior of Units – The walls of most self-storage units are corrugated steel/ wood, so the unit sizes can be adjusted by removing them, resulting in larger more desirable units.

Photos

Location

Agents

Broker of Record

Brian Brockman

License # 20241, 9568 (NM)
Bang Realty-New Mexico, Inc.
2939 Vernon Place, Cincinnati, OH 45219