PHOENIX, ARIZONA -- NAI Horizon Senior Vice President Denise Nunez represented the seller in a $2 million sale of Camp Verde 24 Hour Storage, 603 Industrial Dr., in Camp Verde, Arizona.
Nunez represented the seller, 603 Industrial, LLC. The buyers were from out of state and acquiring their first self-storage investment property.
Anchor Mini Storage was built in 1985 as an addition to a real estate brokerage services company that operated out of the main building. The facility is positioned on a 2.38-acre site. There are 176 self-storage units plus one apartment in the main building.
The facility is located in the town of Camp Verde, which is bisected by I-17, extending 8 miles to the west and 10 miles to the east of the interstate. Three freeway exits provide local access: Exits 285, 287 and 289. UPS operates a distribution center out of this location with a ground lease.
“The seller purchased the property in 2017, added a website, made some physical improvements, operational changes and was able to capitalize on the significant improvement to net operating income,” Nunez said. “The seller 1031 exchanged into four other self-storage opportunities.”
The buyers were represented by Don Arsenault of Don Arsenault Realty.