investment highlights
- HIGH GROWTH MARKET // The five mile population around the subject property is projected to grow nearly 14 percent in the next five years. Spanish Fork is poised to provide affordable housing and be an epicenter of growth for Utah County.
- GREAT LOCATION // The property is in close proximity to major national retailers such as Costco, Target, Macy’s and Walmart. Other demand drivers in the area include the new Intermountain Healthcare facility, the Spanish Fork Airport and the Interstate 15 transit corridor.
- ATTRACTIVE LAYOUT AND DESIGN // The facility is well maintained with desirable curb appeal and professional landscaping, wide drive aisles, ample lighting, and a professional leasing office.
- AFFLUENT AREA // The average household income in the three-mile radius is $94,676, nearly 10 percent higher than the Utah average household income.
- EXPANSION OPPORTUNITY // The property features approximately 1.17 acres of undeveloped land on the west side of the property that could be developed with outdoor parking, covered parking, or additional storage units.
property summary
RightSpace Storage is a 364-unit, 47,900 net rentable square foot self-storage facility located in Spanish Fork, Utah. The property sits on around 5.11 acres of land and includes approximately 1.17 acres of land for expansion. It was initially constructed in 2001 and contains four single-story self-storage buildings with 313 outdoor drive-up units and 49 surface parking spaces.
RightSpace Storage has many amenities including a gated entry with a digital keypad, a free standing house with a leasing office and onsite manager quarters in front of the entrance gate, 24/7 video surveillance throughout the facility, asphalt driveways, and units with metal roll-up doors.
The facility is located in Spanish Fork, off of Veteran’s Memorial Highway with visibility to over 114,000 passing vehicles per day. Major demand retail drivers within two miles of the facility including Costco, Walmart and Target to name a few. Also close by, within three miles, is the Spanish Fork Municipal Airport and the Intermountain Health Spanish Fork Hospital, a modern community hospital, that focuses on medical/surgical services and Provo lies less than 10 miles to the north.
