Colliers Self Storage is pleased to offer this Offering Memorandum for the stabilized self-storage and flex space asset located at 657 West Saint Marys Road, Tucson, AZ. Comprised of 42,483 rentable square feet across 253 total units, the property features a compelling mix of 215 storage units (14,773 NRSF), 37 commercial f|ex spaces (26,110 SF), and an on-site apartment unit.
In addition to the self-storage facility, 695 W Saint Marys Road, Tucson, AZ 85701, an optional land parcel is available for $1,250,000 or $30/SF, offering further development opportunities and the potential to enhance the value of the self-storage asset.
For the 2025 annualized projection, the self-storage facility is expected to achieve $477,810 in effective gross income, with a current physical occupancy of 91.8% and in-place unit occupancy of 86.9%. Average rental rates remain attractive at $1.07/SF (well below the submarket average of $1.56/SF), providing a strong foundation for future rent growth potential as rates normalize to market.
Operating expenses for 2025 are projected at $220,747, yielding a trialing twelve month net operating income (NOI) of $257,063.