The Storage Center – Murray, UT

Property Location

4317 Commerce Drive
Murray, UT 84107

investment highlights

  • 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.

Broker Information

Jordan Farrer

Investment Associate

Phone: 801.736.2643
Email: jfarrer@marcusmillichap.com
License: UT 9220604-SA00

Adam Schlosser

Senior Vice President

Phone: 303.328.2044
Email: aschlosser@marcusmillichap.com
License: CO FA100050407

Justin Forman

Broker of Record

Email: justin.forman@marcusmillichap.com
License: 12256000-PB00

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