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Self-Storage Facility

The Storage Center

4317 Commerce Dr, Murray, UT 84107

Listing Price: Request For Offer

Number of Units
570
Occupancy
97.0%
Gross SF
130,000
Rentable SF
100,450
Year Built
1971

Investment Overview

EXCELLENT LOCATION // Located on Commerce Drive and visible from Interstate 15, the facility is visible to over 245,000 cars per day and three minutes from the North and South I-15 interchange. In addition to great visibility, there are over 2,200 apartments within 0.5 miles of the property. STRONG HISTORICAL OCCUPANCY // The property is currently 96 percent occupied with a strong track record of high occupancy. Occupancy has been achieved with little to no budget allocated to marketing and advertising. UPSIDE TO NEW OWNER // The most recent rent survey reported rents anywhere from 19 percent to 30 percent below market rates. No rent increases were pushed during 2020 and a two percent rent bump took effect June 1st, 2021, leaving ample room to increase and drive revenue in the future. GREAT DEMOGRAPHICS // The three-mile trade area has strong demographics with population of 145,683, 58,224 households, and an average household income of $73,472. The trade area is expected to grow another five and one half percent by 2025.

Investment Highlights

  • Excellent Location
  • Strong Historical Occupancy
  • Upside to New Owner
  • Great Demographics

Exclusively Listed By

Self-Storage Facility

The Storage Center

Listing Price: Request For Offer

Number of Units
570
Occupancy
97.0%
Gross SF
130,000
Rentable SF
100,450
Year Built
1971

Investment Highlights

  • Excellent Location
  • Strong Historical Occupancy
  • Upside to New Owner
  • Great Demographics

Investment Overview

EXCELLENT LOCATION // Located on Commerce Drive and visible from Interstate 15, the facility is visible to over 245,000 cars per day and three minutes from the North and South I-15 interchange. In addition to great visibility, there are over 2,200 apartments within 0.5 miles of the property. STRONG HISTORICAL OCCUPANCY // The property is currently 96 percent occupied with a strong track record of high occupancy. Occupancy has been achieved with little to no budget allocated to marketing and advertising. UPSIDE TO NEW OWNER // The most recent rent survey reported rents anywhere from 19 percent to 30 percent below market rates. No rent increases were pushed during 2020 and a two percent rent bump took effect June 1st, 2021, leaving ample room to increase and drive revenue in the future. GREAT DEMOGRAPHICS // The three-mile trade area has strong demographics with population of 145,683, 58,224 households, and an average household income of $73,472. The trade area is expected to grow another five and one half percent by 2025.

Exclusively Listed By

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