4206 N College Dr - Specialty FOR SALE


Cheyenne, WY 82001
$3,950,000 USD
720-909-8601
4206 N College Dr, Cheyenne, WY for Sale
$3,950,000 USD
Specialty - FOR SALE
1/3
null | Request Cap Rate

4206 N College Dr
Cheyenne, WY 82001


HIGHLIGHTS

  • Lease-Up Opportunity: With current physical occupancy at just 54% across self storage, commercial, and parking units
  • Rent Growth Potential: In-place rental rates remain below those of comparable facilities
  • Diversified Revenue Streams: The asset generates income from 345 self storage units, 15 commercial tenants, 26 parking spaces and a cell tower lease
  • Tax-Advantaged Environment: Situated in Wyoming, a state with no personal or corporate income tax

OVERVIEW

Diamond Self Storage presents a compelling investment opportunity in Cheyenne, Wyoming – Wyoming’s capital and one of the fastest-growing cities in the Mountain West. Located at 4206 North College Drive, the property benefits from excellent visibility, convenient access, and close proximity to a mix of residential and commercial developments. The facility offers 42,350 rentable square feet across 345 self storage units, 15 commercial units totaling 11,020 rentable square feet, and 26 parking spaces, creating a diversified income stream from a broad tenant base. The projected population within a five-mile radius is expected to grow from 80,822 in 2024 to 85,053 by 2034. Within a three-mile radius, average household income exceeds $92,000, and the area maintains a strong 94% housing occupancy rate. With current rental rates below market benchmarks and economic occupancy well below stabilization, there is clear potential for rent growth and operational improvement. Investors can unlock near-term value through lease-up (currently 54% physical occupancy), implementation of modern marketing strategies, and the addition of ancillary income streams such as tenant insurance. Supported by Cheyenne’s pro-growth policies, favorable tax environment, and limited new supply in the local market, Diamond Self Storage is well-positioned for long-term NOI growth and capital appreciation.

FOR SALE DETAILS

PRICE

$3,950,000 USD

PRICE/SF

$93 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Diamond Self Storage

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

-

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.4 AC

LAND SF

191,664 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Cole CarosellaArgus Self Storage AdvisorsMore Info
720-909-8601

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Cole CarosellaArgus Self Storage AdvisorsMore Info
720-909-8601

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.