TUCSON, ARIZONA – The Nunez Self-Storage Group represented the seller in the disposition of a self-storage and RV asset in Tucson. The asset sold for $5.425 million ($181,000 per rental space).
NAI Horizon Executive Managing Director Denise Nunez and First Vice President Victoria Filice, CCIM, represented the seller, Vault at Old Vail Road LLC, of Vault Storage & RV, 7475 E. Old Vail Road in Vail area of Tucson. The buyer was Van West Acquisitions LLC.
“The seller, a group based in Tucson, purchased this facility just 17 months prior. They were able to increase rents and improve operations in a short amount of time to realize a solid return for their investors,” Nunez said. “The buyer paid market value for a stabilized property which has room to grow through rental increases.”
Built in 2010, Vault Storage & RV offers covered and uncovered RV spaces as well as a wide variety of storage units. The asset totals 330 units – 111 drive up storage units, 128 covered parking spaces, 90 outdoor parking spaces, and one commercial building.
Amenities include security fencing, electronic keypad access and after-hours onsite security guards. It is close in proximity to Rita Ranch, Mesquite Ranch, and Groves Lincoln Park communities.
The Nunez Self-Storage Group closed more than $140 million in transactions in 2021.
To learn more, see RED Comp #9795.