overview video
investment highlights
- PRIME SALT LAKE CITY LOCATION // Located in the heart of Salt Lake City, just east of I-15 on State Street, this property boasts high visibility with a daily traffic count of 32,755.
- PROFESSIONALLY MANAGED BY EXTRA SPACE // Since transitioning to Extra Space Management in 2020, the property has benefited from their ECRI program, achieving impressive occupancy rates of 93 percent as of August, while simultaneously growing revenue.
- COMPETITIVE RENTAL RATES // The strategic location and effective marketing strategies have positioned the property as a market leader in rental rates, currently achieving over $19.49 per square foot (August 2024).
- STRONG DEMOGRAPHICS // Within a three-mile radius, the property serves a population of 153,047 with 64,633 households and an average household income of $80,095. Additionally, the area is experiencing increased density, with 4,728 apartments within one mile and another 688 units currently in development or planning.
property summary
Extra Space (Managed) is a 485-unit, 39,200 net rentable square foot self-storage facility located in Salt Lake City, Utah. The property sits on around 1.65 acres of land, was initially constructed in 1985, and contains five single-story self-storage buildings, two two-story buildings with drive-up, interior, and elevator access for units.
Extra Space (Managed) has many amenities including an electronic gated entry with a digital keypad, an institutional-style leasing office with retail and security monitor display, 24/7 video surveillance throughout the facility, concrete driveways, and metal roll-up doors throughout.
The facility is centrally located in Salt Lake City with excellent visibility from State Street and over 32,755 passing vehicles per day. Extra Space (Managed) Salt Lake City represents the first opportunity in the last decade, or more, to acquire a REIT-managed self-storage facility in Salt Lake City on the desirable east side of I-15.
