Investment Overview

CLASS A CONSTRUCTION // Homeland Storage represents a brand new, best in class facility. The property features drive-up, interior hallway, and elevator access climate and non-climate units. HIGH BARRIERS TO ENTRY // Heber City recently ended a moratorium on new self-storage developments. During this period, self-storage was reclassified as a conditional use within the C-2 zone, necessitating extensive design considerations and approvals. AFFLUENT GROWTH AREA // The three-mile trade area is projected to grow 15.30 percent over the next five years. The three-mile average household income is $120,949. STRONG MARKET RENTS // The market rate for climate-controlled 10x10 units average $159/month, with the top of the market at $180/month. The average rent for all unit types is $1.36 per square foot. RECREATIONAL AND VACATION MARKET // Heber City, located 20 minutes south of Park City, offers similar vacation home and recreational opportunities. Storage demand is largely driven by second or third homeowners.