Stor-N-Lok is located in the southern portion of Colorado Springs, at 1625 La Shelle Way. Situated at the gateway to Ft. Carson Army base, the property has excellent visibility and access from Academy Boulevard which is a 6-lane freeway leading into the base. This strategic location captures military and non-military users. Academy Boulevard is west of Interstate 25 (named The Ronald Reagan Highway along this stretch) and is east of the Vietnam Veterans Memorial Highway.
This area in Colorado Springs has many famous landmarks. Stor-N-Lok is less than five minutes to Pike’s Peak Community College and is accessed from the same exit as the world-famous Broadmoor Hotel, Colorado’s only five-star hotel and conference center which has hosted presidents through the decades. The Cheyenne Mountain Zoo is another attraction, as is the Cheyenne Mountain Air Force Station, the iconic Petersen Air Force Base, the United States Air Force Academy, and the Colorado Springs Airport. It is 5 miles from Colorado Springs City Center.
The property features a total of 56,280 rentable square feet located on 3.15 acres. There are 460 drive-up accessible units of varying sizes in concrete block buildings with composition roofs. The site is fully fenced and access is through an electronic gate. As you enter into the facility, you cannot help but stare in amazement at the jaw-dropping backdrop of the 13,000 foot mountains that loom over the facility, a picture-perfect image that explains why so many people from around the world live and play in the Rockies.
Built in 1973, the facility has experienced decent occupancy in spite of its minimal advertising and Internet presence. As of this writing, there are 396 units are rented with an economic occupancy of 80% and a physical occupancy of 87%. The office and apartment total 2416 square feet (two-story) and managers reside on site. There are a total of 11 buildings for indoor storage and sufficient outdoor storage as well. A moving truck is offered free of charge for customers and is shared by both facilities.
Features of the property include a 24-hour camera security system, electronic gates and lights, signage off of Academy Blvd, fencing around the perimeter of the property, boxes and lock sales, and managers on site. A 7/11 convenience mart is across the street from the entrance to the facility and a busy intersection directs customers into the property at this corner. A strip center is across the street from the 7/11.
Marketing has been minimal for this facility. Its only print advertising is in Dex Yellow pages (along with Interstate Secure Storage), and there is no Internet presence other than the third-party Sparefoot.com. The managers receive a lucrative incentive package, along with their living allowance, for renting units and overseeing the facility. Signage is prominently displayed at the entrance to the property and there is a large sign at the exit off of Academy.
Population and Income Near Stor-N-Lok
Stor-N-Lok is an ideal opportunity for this type of investment: a self-storage facility just waiting to be upgraded to increase occupancy and cash flow. Projected improvements are as follows:
- Blacktop and/or new asphalt
- Remove/haul away stored vehicles that appear to be non-working
- Management changes
- Technology and internet presence
- Internet commerce
- Training of staff
- Physical improvements to office, apartment, restrooms
- Paint all doors and replace where needed
- Repair fencing
- Landscaping to include clean up of office and apartment areas
- Signage that is new and fresh
- Remove truck and register as a U-Haul dealer
- New branding, logos and name
- Uniforms for staff
- Equipment enhancements
- Improve security system
We are excited to increase occupancy at this facility with these improvements. With the strong demographics of the nearby housing and military presence at this location, we are confident that a newfound awareness of a “clean, safe, and secure” self storage
facility will catapult us to the top of the competition as we begin the process of getting the word out about the change in ownership and upgrades to the property.
| PROPERTY | |
| NAME | Stor-N-Lok Self Storage |
| Address | 1625 LaShelle Way, Colorado Springs, CO |
| County | El Paso |
| Parcel Numbers | 63312-08-016 |
| Land Area | 3.15 Acres (137,214 SF) |
| Property Type | Self Storage |
| Year Built | 1973 |
| Total Square Feet | 57,036 |
| Rentable Square Feet | 56,280 |
| Land for Expansion | None |
| Surrounding Land for Purchase | No |
| OCCUPANCY | |
| Total Units | 460 |
| Unit Occupancy | 86% (396 units rented) |
| Economic Occupancy | 80.69% |
| S/F Occupancy | 87.33% |
| PHYSICAL | |
| Foundation | Concrete slab |
| Exterior Construction | Concrete block |
| Interior Construction | Metal demising walls |
| Partitions | Metal |
| Paving | Asphalt |
| Office | 1,208 SF |
| Apartment | 1,208 SF |
| Site Access Controls | Site Link |
| Management Software | Sentinel/QuickBooks |
| Security | On-site manager, fully fenced, motion detectors, electronic gates/lights |
| Number of Buildings | 11 |
| Restrooms | Yes, for tenants |
| Traffic Exposure | Excellent from Academy Blvd., a six lane thoroughfare |
| Parking | Per code |
| Office Hours | 9am-5pm Mon-Fri; Closed Sunday |
| Gate Hours | 4am-11pm daily |
| Other Business Operations | Moving truck for tenant use, boxes and lock sales |
Unit Mix
