Salt Lake City MSA 2 Property Portfolio
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Salt Lake City MSA 2 Property Portfolio
2 Specialty Properties in Multiple Locations
Investment Highlights
- HIGH VISIBILITY LOCATION: 47,525 VPD Intersection Traffic Count (West 3500 South & South 7200 West)
- STRATEGIC LOCATION: Located Near Large Retailers and Salt Lake Community College
- RECENT CAPITAL IMPROVEMENT PROJECT: The large format units were recently converted into smaller format at the West Valley Facility
- STABILIZED FACILITIES WITH IMPRESSIVE OCCUPANCY: 89% Portfolio Combined Physical Occupancy
- STRONG INCOME SUBMARKET: Average Household Income - $109,894 (5-Mile Radius)
- AGGRESSIVE RENT INCREASES PROJECT THE FOLLOWING: $1,128 Increase for September 2024. $1,530 Increase for October 2024.
Executive Summary
View Offering Memorandum and Due Diligence: https://selfstorageadvisory.com/properties/salt-lake-city-portfolio/
CBRE’s Self Storage Advisory Group is proud to offer this portfolio investment opportunity in the Salt Lake City Metro. The Salt Lake City MSA Portfolio is comprised of two traditional self storage facilities located within 1,000 feet of each other in the cities of West Valley City and Magna, UT. This attractive portfolio features a combined 585 units spread across 77,005 net rentable square feet of ground level drive up storage space. Both locations have an office as well as on-site residences. The Magna facility recently underwent a large scale capital improvement project where the larger format units, 12X35’s and 12X45’s, were converted into 256 units ranging from 5X7’s up to 12X15’s. The facilities offer valuable amenities including moving supplies available for purchase on-site, month to month rentals, and convenient online rental and bill pay options. The Salt Lake MSA is the top metro area in the state of Utah and ranks among the best performing large metro areas in the nation.
The Salt Lake City MSA Portfolio offers great local demographics with 344,997 people within a 5-mile radius of the properties and a portfolio average household income of $114,956 in the 1-mile radius. Both sites benefit greatly from their infill location, immediately surrounded by well established residential communities, retailers/commerce centers including Walmart Supercenter and Northrop Grumman’s aerospace facility plus the campuses for University of Utah and Salt Lake Community College within close proximity. Both Public Storage facilities have a strong history of stable and consistent cash flow, well positioned to take advantage of the growing demand for self-storage in the area.
Local Licensee
Victoria Walker/ CBRE, Inc.
Lic. 3074779
CBRE’s Self Storage Advisory Group is proud to offer this portfolio investment opportunity in the Salt Lake City Metro. The Salt Lake City MSA Portfolio is comprised of two traditional self storage facilities located within 1,000 feet of each other in the cities of West Valley City and Magna, UT. This attractive portfolio features a combined 585 units spread across 77,005 net rentable square feet of ground level drive up storage space. Both locations have an office as well as on-site residences. The Magna facility recently underwent a large scale capital improvement project where the larger format units, 12X35’s and 12X45’s, were converted into 256 units ranging from 5X7’s up to 12X15’s. The facilities offer valuable amenities including moving supplies available for purchase on-site, month to month rentals, and convenient online rental and bill pay options. The Salt Lake MSA is the top metro area in the state of Utah and ranks among the best performing large metro areas in the nation.
The Salt Lake City MSA Portfolio offers great local demographics with 344,997 people within a 5-mile radius of the properties and a portfolio average household income of $114,956 in the 1-mile radius. Both sites benefit greatly from their infill location, immediately surrounded by well established residential communities, retailers/commerce centers including Walmart Supercenter and Northrop Grumman’s aerospace facility plus the campuses for University of Utah and Salt Lake Community College within close proximity. Both Public Storage facilities have a strong history of stable and consistent cash flow, well positioned to take advantage of the growing demand for self-storage in the area.
Local Licensee
Victoria Walker/ CBRE, Inc.
Lic. 3074779
Property Facts
Sale Type | Investment | Individually For Sale | 0 |
Status | Active | Total Building Size | 86,292 SF |
Number of Properties | 2 | Total Land Area | 3.61 AC |
Sale Type | Investment |
Status | Active |
Number of Properties | 2 |
Individually For Sale | 0 |
Total Building Size | 86,292 SF |
Total Land Area | 3.61 AC |
Properties
Property Name / Address | Property Type | Size | Year Built | Individual Price |
---|---|---|---|---|
National Self Storage
7125-7135 W 3500 S, Salt Lake City, UT 84128 |
Specialty | 40,522 SF | 1999 | - |
Apex Storage Magna
3588 S 7200 W, Magna, UT 84044 |
Specialty | 45,770 SF | 2018 | - |
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Salt Lake City MSA 2 Property Portfolio
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