Gated Hobby Garage Storage
For Sale
$400,000
2901 E 850 N, St George, UT 84790
Purpose-built, finished units with roll-up doors, HVAC, and private entries within a fully gated, metered storage community.
Property Size2,026 SF
Days on Market83
Property Features for 2901 E 850 N
General Information
Standard status
Active
Size
2,026 SF
Property subtype
Industrial
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Building Size
2,026 SF
Year Built
2026
Listing Agency:
Real Broker, LLC
Listed By:
Dustin Hammer
(435) 680-5337
Source:
Liftrealty
Added: Jun 17
Changed: Sep 7
Last Checked: Sep 7 at 7:25AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This purpose-built hobby garage storage community is planned as 76 individually owned, metered units, ranging from 1,000 to 2,500 SF. Each unit is delivered finished, with a fully insulated and drywalled interior, vaulted ceilings with high-bay lighting, and a 14' x 14' roll-up door. Units also include a private entry with transom window, ducted heating and air, and an interior half bath with water heater. Additional in-unit features include a kitchenette with cabinets, countertops, sink, microwave, and refrigerator, as well as being mezzanine-ready for future expansion. Power and utility amenities include a 220-Volt RV outlet, an interior hose bib, an extra-large ceiling fan, and exterior driveway lighting.
The community is gated and includes a private clubhouse with a full kitchen, lounge, office space, restrooms, and an outdoor patio, along with an on-site RV dump station. Public remarks indicate the project is located next to the Washington Costco off Exit 10 with easy I-15 access, and first units are expected to complete in Fall of 2026. Custom build-out is noted as available; inquire for the full unit and pricing matrix.
The community is gated and includes a private clubhouse with a full kitchen, lounge, office space, restrooms, and an outdoor patio, along with an on-site RV dump station. Public remarks indicate the project is located next to the Washington Costco off Exit 10 with easy I-15 access, and first units are expected to complete in Fall of 2026. Custom build-out is noted as available; inquire for the full unit and pricing matrix.
Key Highlights
- Gated hobby garage community with 76 individually owned, individually metered units
- Units range from 1,000 to 2,500 SF, with pricing from $350,000 and up
- Each unit is delivered finished: fully insulated and drywalled interior, vaulted ceilings, and high‑bay lighting
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
$19,401
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
4.85%
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%
$388,020
$388.0K
Cap Rate 7%
$277,157
$277.2K
Cap Rate 9%
$215,567
$215.6K
Market Conditions
NOI Build-Up for 2,026 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
$29.2K $14.40/SF
− Vacancy
−$1.5K −$0.72/SF
EGI
$27.7K $13.68/SF
− OpEx
−$8.3K −$4.10/SF
NOI
$19.4K $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%
$388,020
Cap Rate 7%
$277,157
Cap Rate 9%
$215,567
Alternative Uses
Best Use
Self Storage
$277.2K
$242.5K – $323.4K
NOI $19,401 @ 7.0% cap · market cap 4.85%
Second Best
Warehouse
$245.0K
$214.4K – $285.8K
NOI $17,148 @ 7.0% cap · market cap 4.29%
Theoretical Best
Specialty Retail
$557.9K
$488.2K – $650.9K
NOI $39,053 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 84790, UT
52,982
Population
20,956
Households
2.5
Avg Household Size
37
Median Age
38%
College-Educated
96%
High-School Grad
48.3 sq mi
ZIP Area
1,097
Density / Sq Mi
$85,720
Median Household Income
$39,108
Median Earnings
$1,598
Median Rent
$500,900
Median Home Value
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 - Purpose-built, finished units with roll-up doors, HVAC, and private entries within a fully gated, metered storage community.
Where is this self storage facility located?
The property is located at 2901 E 850 N St George, UT.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Gated hobby garage community with 76 individually owned, individually metered units; Units range from 1,000 to 2,500 SF, with pricing from $350,000 and up; Each unit is delivered finished: fully insulated and drywalled interior, vaulted ceilings, and high‑bay lighting
