20-Unit Self Storage
For Sale
$1,068,000
122 E FORD AVE, South Salt Lake, UT 84115
BUS-A zoning and a Lorex camera system support the property's commercial storage configuration.
Property Size6,900 SF
Price / SF$154.78
Days on Market14
Property Features for 122 E FORD AVE
General Information
Standard status
Active
Size
6,900 SF
Property subtype
Retail
Zoning
BUS-A
Warehouse & Industrial
Clear Height
13 ft
Self-Storage Units
20
Amenities
Security System
Building Details
Building Size
6,900 SF
Year Built
1978
Buildings
1
Listing Agency:
Legend Commercial, LLC
(801) 930-6750
Listed By:
Spencer Clawson
(801) 636-8426
Source:
Liftrealty
Added: Jul 30
Changed: Aug 11
Last Checked: Aug 12 at 6:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Legend Commercial, LLC
Investment Insights
Based on property information with market context.
This self-storage facility contains one building totaling 6,900 square feet with 20 storage units. The property has a 13-foot clear height, a Lorex security system with five cameras, new exterior paint, and a roof replacement with an in-place warranty. Built in 1978, the building is zoned BUS-A.
The property is located at 122 E Ford Ave in South Salt Lake, Utah, within the South Salt Lake submarket. Its existing unit count, security equipment, building improvements, and commercial zoning define the current storage-oriented configuration.
The property is located at 122 E Ford Ave in South Salt Lake, Utah, within the South Salt Lake submarket. Its existing unit count, security equipment, building improvements, and commercial zoning define the current storage-oriented configuration.
Key Highlights
- 6,900‑square‑foot self‑storage building with 20 storage units
- 13‑foot clear height
- Lorex security system with five cameras
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
$60,568
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
5.67%
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%
$1,211,360
$1.2M
Cap Rate 7%
$865,257
$865.3K
Cap Rate 9%
$672,978
$673.0K
Market Conditions
NOI Build-Up for 6,900 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
$91.1K $13.20/SF
− Vacancy
−$4.6K −$0.66/SF
EGI
$86.5K $12.54/SF
− OpEx
−$26.0K −$3.76/SF
NOI
$60.6K $8.78/SF
Area
Salt Lake County, UT
Vacancy
5.00%
Lease Rate
$13.20 /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%
$1,211,360
Cap Rate 7%
$865,257
Cap Rate 9%
$672,978
Alternative Uses
Best Use
Self Storage
$865.3K
$757.1K – $1.01M
NOI $60,568 @ 7.0% cap · market cap 5.67%
Second Best
Warehouse
$813.6K
$711.9K – $949.3K
NOI $56,955 @ 7.0% cap · market cap 5.33%
Theoretical Best
Multifamily LT 5
$91.88M
$80.39M – $107.19M
NOI $6,431,323 @ 7.0% cap · market cap 602.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,660
Businesses Nearby
Explore this area
Business Placement
Demographics for 84115, UT
27,588
Population
13,899
Households
2
Avg Household Size
33
Median Age
33%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
4,523
Density / Sq Mi
$61,505
Median Household Income
$43,785
Median Earnings
$1,263
Median Rent
$396,200
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 - BUS-A zoning and a Lorex camera system support the property's commercial storage configuration.
Where is this self storage facility located?
The property is located at 122 E FORD AVE South Salt Lake, UT.
What is the asking price?
The asking price for this property is $1,068,000.
What are key features of this property?
This property features: 6,900‑square‑foot self‑storage building with 20 storage units; 13‑foot clear height; Lorex security system with five cameras
