Log In/Sign Up
Your email has been sent.
4206 N College Dr - Diamond Self Storage 42,350 SF Specialty Building Offered at $3,950,000 in Cheyenne, WY 82001
INVESTMENT HIGHLIGHTS
- Lease-Up Opportunity: With current physical occupancy at just 54% across self storage, commercial, and parking units
- Diversified Revenue Streams: The asset generates income from 345 self storage units, 15 commercial tenants, 26 parking spaces and a cell tower lease
- Rent Growth Potential: In-place rental rates remain below those of comparable facilities
- Tax-Advantaged Environment: Situated in Wyoming, a state with no personal or corporate income tax
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS Under Contract
| Price | $3,950,000 | Lot Size | 4.40 AC |
| Price Per SF | $93.27 | Building Size | 42,350 SF |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1982 |
| Property Subtype | Self-Storage | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | LI - Light Industrial | ||
| Price | $3,950,000 |
| Price Per SF | $93.27 |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 4.40 AC |
| Building Size | 42,350 SF |
| No. Stories | 1 |
| Year Built | 1982 |
| Opportunity Zone |
Yes |
| Zoning | LI - Light Industrial |
1 1
PROPERTY TAXES
| Parcel Number | 1-3940-0008-0000-1 | Improvements Assessment | $113,617 |
| Land Assessment | $40,337 | Total Assessment | $153,954 |
PROPERTY TAXES
Parcel Number
1-3940-0008-0000-1
Land Assessment
$40,337
Improvements Assessment
$113,617
Total Assessment
$153,954
1 of 4
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
4206 N College Dr - Diamond Self Storage
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.