Cheyenne, WY
$3,950,000
Call for Offers Due 9/9/25
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.