Cheney Self Storage Land
7.35 AC | Self Storage Development Site
Marketing description
Great Development Opportunity
Situated at the corner of Cheney Plaza Road and Front Street, this 7.35-acre piece of empty land is perfect for commercial development. Located in the Southern part Spokane County in Cheney, near Eastern Washington University, it offers fantastic visibility. Priced at $990,000 or $3.12 per square foot, the land is divided into six parcels ranging from 0.99 to 1.74 acres, giving you plenty of options for phased construction or mixed-use plans.
Flexible Zoning
The land is zoned Light Industrial by the City of Cheney, allowing for a wide range of commercial uses. You can explore options like self-storage, co-working spaces, retail, medical facilities, or large warehouses.
Market Demand
The Cheney storage market is thriving, with nearby facilities running at 96% and 98% occupancy. At $1.15 per square foot, market rents are solid. The area within a five-mile radius is growing quickly, with a projected population of 18,206 by 2030 and an average household income of $71,869.
Turning Ideas Into Reality
Whether you're planning an industrial warehouse or a modern self storage complex, this site is ready for your vision. Current designs show the potential for an 80,000 square foot storage complex using just three parcels, leaving room for further development or even separate projects on the remaining land.
Investment highlights
Affordable Land Price: $3.12/SF
Flexible zoning: to execute a phased construction strategy, allowing you to build out traditional units first and scale up as absorption hits target levels.
Market Stability: 96% to 98% occupancy. With local market rents commanding around $1.15/SQFT
Rapid Housing Growth: Ensures a steady, long-term demand curve for off-site storage that spills directly over into Cheney, which is an easy 20-minute drive from the larger Spokane metro.
Built-in College Tenant Base: College towns provide a highly predictable, cyclical tenant base. Eastern Washington University guarantees a consistent annual churn of renters.
High Demand for Boat/RV Storage: Because of the proximity to regional lakes, rivers, and mountain trailheads, there is a massive premium on space for larger toys. Integrating covered or fully enclosed RV and boat storage into a Cheney site plan allows you to capture a highly lucrative segment of the market that is currently waitlisted at facilities closer to the city center.
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