Self-Storage
For Sale
$4,495,000
68 S Warehouse Rd, Washington, UT 84780
COMMERCIAL - Washington, UT
Property Size31,500 SF
Lot Size2.26 Acres
Price / SF$142.70
Days on Market327
Property Features for 68 S Warehouse Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial, Commercial
Subdivision
Greater St. George
Standard status
Active
APN
W-SVIP-1-32
Size
31,500 SF
Lot size
2.26 Acres
Taxes and HOA fees
Tax Annual Amount
13620
Building Details
Year built
2024
Floors in Building
1
Listing Agency:
THINK REALTY LLC
(435) 817-1265
Listed By:
LUKE E GODFREY
(435) 229-4126
Added: Sep 19, 2025
Changed: Aug 4
Last Checked: Aug 11 at 9:06PM
MLS# 25-266012
Copyright © 2026 Washington County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-storage property includes a 31,500-square-foot building on 2.26 acres. Constructed in 2024, the asset presents a recently built physical plant for storage operations.
The property is located at 68 S Warehouse Rd in Washington, Utah, within Washington County. Its combination of building area and acreage provides the core physical characteristics of a modern self-storage asset.
The property is located at 68 S Warehouse Rd in Washington, Utah, within Washington County. Its combination of building area and acreage provides the core physical characteristics of a modern self-storage asset.
Key Highlights
- 31,500‑square‑foot self‑storage building
- 2.26‑acre property
- Constructed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$301,644
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,032,880
$6.0M
Cap Rate 7%
$4,309,200
$4.3M
Cap Rate 9%
$3,351,600
$3.4M
Market Conditions
NOI Build-Up for 31,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$453.6K $14.40/SF
− Vacancy
−$22.7K −$0.72/SF
EGI
$430.9K $13.68/SF
− OpEx
−$129.3K −$4.10/SF
NOI
$301.6K $9.58/SF
Area
Washington County, UT
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,032,880
Cap Rate 7%
$4,309,200
Cap Rate 9%
$3,351,600
Alternative Uses
Best Use
Self Storage
$4.31M
$3.77M – $5.03M
NOI $301,644 @ 7.0% cap · market cap 6.71%
Second Best
Warehouse
$3.81M
$3.33M – $4.44M
NOI $266,615 @ 7.0% cap · market cap 5.93%
Theoretical Best
Specialty Retail
$8.67M
$7.59M – $10.12M
NOI $607,197 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 84780, UT
28,025
Population
12,922
Households
2.2
Avg Household Size
36
Median Age
35%
College-Educated
94%
High-School Grad
61.8 sq mi
ZIP Area
453
Density / Sq Mi
$94,103
Median Household Income
$42,098
Median Earnings
$1,581
Median Rent
$511,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Recently constructed self-storage property with a substantial building footprint and dedicated land area.
Where is this self storage facility located?
The property is located at 68 S Warehouse Rd Washington, UT.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: 31,500‑square‑foot self‑storage building; 2.26‑acre property; Constructed in 2024
