Extra Space Self Storage Investment Opportunity

Investment Overview

Extra Space Storage presents the opportunity to acquire a modern, stabilized self-storage investment in Caldwell, Idaho. Built in two phases in 2021 and 2024, the property includes 449 total units consisting of 415 self-storage units and 34 covered RV/boat parking spaces, with a 12-month average occupancy of 94.1%. The current third-party Extra Space Storage management agreement expires in September 2026, providing a buyer with flexibility to retain the existing platform or transition to a new operator and brand.

Investment Highlights

• Flexible Extra Space Management & Branding Opportunity — Currently operated under a third-party Extra Space Storage management agreement that expires in September, giving a buyer the flexibility to retain the Extra Space platform or transition to a new operator and brand.
• Modern, Recently Completed Facility — Built in two phases in 2021 and 2024, offering newer construction, modern improvements, and limited near-term capital needs.
• Strong Stabilized Operations — 12-month average occupancy of 94.1% across 449 units, reflecting consistent demand and a stabilized operating history.
• Diversified Storage & Parking Mix — 415 self-storage units are complemented by 34 covered RV/boat parking spaces, broadening the property’s customer base and revenue streams.
• Embedded Revenue Growth — In-place self-storage rents average approximately 97% of market, with additional upside available through continued rate management and lease-up of remaining vacancies.
• Strategic Treasure Valley Location — Positioned between Middleton and Caldwell near the Boise River, with access to expanding residential areas and the broader Boise MSA growth corridor.
• Expanding Local Customer Base — Population within five miles is projected to grow from approximately 76,954 to 90,370 over the five-year forecast period, supporting continued storage demand.