207 Prosser Rd Cheyenne, WY 82007-3148

This exceptional self-storage portfolio in Cheyenne, Wyoming, presents a compelling value-add opportunity. Comprising two locations at 207 E Prosser Rd and 711 E College Dr, the property boasts a total of 79,282 net rentable square feet across 557 units. Currently operating at 86% occupancy, the portfolio has experienced significant growth since a 2023 expansion at the Prosser Road location, increasing occupancy from 48% to its current level. The property features a Class B building constructed between 2002 and 2009, with renovations completed in 2023. The 4.38-acre lot offers significant potential for future expansion. The current Net Operating Income (NOI) is $566,417, with a pro-forma NOI projected at $801,071, resulting in a pro-forma cap rate of 10.01%. The asking price is $8,000,000, representing a price per square foot of $100.91 and a price per unit of $14,362.66. The property benefits from a strong local market, with a projected 3.7% population increase by 2026 and a robust median household income of $86,365. There are no known competing developments within a 10-mile radius. This is a rare opportunity to acquire a high-performing self-storage portfolio in a rapidly growing market with significant upside potential. The lease type is gross, and the property is not subject to a ground lease.