Climate-Controlled Storage
New
For Sale
$220,000
24 E Industrial Rd. #D23, Washington, UT 84780
Commercial Sale, Washington, UT
Property Size1,150 SF
Price / SF$191.30
Days on Market1
Property Features for 24 E Industrial Rd. #D23
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial, Commercial
Directions
Continue toward the Washington/Industrial Road area. Turn onto Industrial Road. Continue to 24 E Industrial Rd - Falcon Storage Condominiums. Once inside the complex, look for Building D, Unit 23 (D23).
Subdivision
Greater St. George
Standard status
Active
APN
W-FLSC-D-23
Size
1,150 SF
Taxes and HOA fees
Tax Annual Amount
1341
Amenities
clubhouse
security camera system
separate electric meter
RV dump station
wide alleyways
Building Details
Year built
2023
Floors in Building
1
Listing Agency:
CENTURY 21 EVEREST ST GEORGE
(435) 673-9266
Listed By:
BRYAN S BURNETT · License #5496981-SA
(435) 375-4564
Added: Sep 15
Last Checked: Sep 15 at 9:06PM
MLS# 26-276119
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 1,150-square-foot storage condo was built in 2023 and is fully insulated with climate control, reinforced concrete flooring, and an 18'+ ceiling height. A 14' tall electric roll-up door supports vehicle, recreational equipment, and business storage uses. The unit also has a separate electric meter and a 50-amp RV circuit.
The fenced development includes wide alleyways for maneuvering, an onsite RV dump station, and a security camera system. Owners have access to a private clubhouse with a shower, kitchenette, dining area, and media center. Professional management and protective covenants are in place.
The fenced development includes wide alleyways for maneuvering, an onsite RV dump station, and a security camera system. Owners have access to a private clubhouse with a shower, kitchenette, dining area, and media center. Professional management and protective covenants are in place.
Key Highlights
- 1,150‑square‑foot storage condo built in 2023
- Fully insulated and climate‑controlled with 18'+ ceiling height
- 14' tall electric roll‑up door and reinforced concrete flooring
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
$11,012
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
5.01%
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%
$220,240
$220.2K
Cap Rate 7%
$157,314
$157.3K
Cap Rate 9%
$122,356
$122.4K
Market Conditions
NOI Build-Up for 1,150 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
$16.6K $14.40/SF
− Vacancy
−$828 −$0.72/SF
EGI
$15.7K $13.68/SF
− OpEx
−$4.7K −$4.10/SF
NOI
$11.0K $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%
$220,240
Cap Rate 7%
$157,314
Cap Rate 9%
$122,356
Alternative Uses
Best Use
Self Storage
$157.3K
$137.7K – $183.5K
NOI $11,012 @ 7.0% cap · market cap 5.01%
Second Best
Warehouse
$139.1K
$121.7K – $162.2K
NOI $9,734 @ 7.0% cap · market cap 4.42%
Theoretical Best
Specialty Retail
$316.7K
$277.1K – $369.5K
NOI $22,168 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
234
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Insulated storage unit with an electric roll-up door, dedicated power, and access to shared owner amenities.
Where is this self storage facility located?
The property is located at 24 E Industrial Rd. #D23 Washington, UT.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 1,150‑square‑foot storage condo built in 2023; Fully insulated and climate‑controlled with 18'+ ceiling height; 14' tall electric roll‑up door and reinforced concrete flooring
