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Self-Storage Facility

Storage General Cedar City

690 W Industrial Rd, Cedar City, UT 84721

Listing Price: Request For Offer

Number of Units
2,133
Occupancy
93.4%
Gross SF
480,000
Rentable SF
456,758
Year Built
1980

Investment Overview

IMMEDIATE SCALE IN SOUTHERN UTAH // Storage General Cedar City is the largest self-storage asset in Utah. The property features 2,133 units and 456,758 total net rentable square feet. UPSIDE POTENTIAL // The property is the dominant self-storage facility in the market and should dictate market rates. Current 10x10’s, 10x15’s, and 10x20’s are 18 percent, 13 percent, and 42 percent below market comparable properties. SUBSTANTIAL CAPEX UPGRADES // Over the last three years, the ownership group has invested significant capital into upgrading the facility. Improvements include asphalt resurfacing and repair, roof repairs, repainting, updating surveillance equipment, and large renovations to the industrial spaces. STABLE MARKET // Cedar City has seen dramatic growth of 16.6 percent since 2010 and is projected to have stable growth over the next five years. Major employers include Southern Utah University, Iron County School District, Cedar City Hospital (IHC), and WalMart. INCREDIBLE VISIBILITY // The property has nearly 1,600 feet of frontage on I-15, making it visible to nearly 30,000 vehicles per day. Storage General is just four minutes from the on and off ramps for I-15 making it extremely convenient for access.

Investment Highlights

  • Immediate Scale in Southern Utah
  • Upside Potential
  • Substantial Capex Upgrades

Exclusively Listed By

  • Jordan Farrer

    Vice President Investments

    (801) 736-2643

    Email Jordan

    License(s): UT: 9220604-SA00, NV: S.0192979, ID: SP54637

    Salt Lake City

Self-Storage Facility

Storage General Cedar City

Listing Price: Request For Offer

Number of Units
2,133
Occupancy
93.4%
Gross SF
480,000
Rentable SF
456,758
Year Built
1980

Investment Highlights

  • Immediate Scale in Southern Utah
  • Upside Potential
  • Substantial Capex Upgrades

Investment Overview

IMMEDIATE SCALE IN SOUTHERN UTAH // Storage General Cedar City is the largest self-storage asset in Utah. The property features 2,133 units and 456,758 total net rentable square feet. UPSIDE POTENTIAL // The property is the dominant self-storage facility in the market and should dictate market rates. Current 10x10’s, 10x15’s, and 10x20’s are 18 percent, 13 percent, and 42 percent below market comparable properties. SUBSTANTIAL CAPEX UPGRADES // Over the last three years, the ownership group has invested significant capital into upgrading the facility. Improvements include asphalt resurfacing and repair, roof repairs, repainting, updating surveillance equipment, and large renovations to the industrial spaces. STABLE MARKET // Cedar City has seen dramatic growth of 16.6 percent since 2010 and is projected to have stable growth over the next five years. Major employers include Southern Utah University, Iron County School District, Cedar City Hospital (IHC), and WalMart. INCREDIBLE VISIBILITY // The property has nearly 1,600 feet of frontage on I-15, making it visible to nearly 30,000 vehicles per day. Storage General is just four minutes from the on and off ramps for I-15 making it extremely convenient for access.

Exclusively Listed By

  • Jordan Farrer

    Vice President Investments

    (801) 736-2643

    Email Jordan

    License(s): UT: 9220604-SA00, NV: S.0192979, ID: SP54637

    Salt Lake City

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