What does las vegas — initial cost, building & improvements mean?

The historical cost basis of the physical structures and initial improvements made to facilities in the Las Vegas market. This excludes land value and represents the investment in the storage infrastructure itself.

Public Storage PSA Las Vegas — Initial Cost, Building & Improvements

Other geography segments

Los Angeles

$1.13B+2.1%

Houston

$963.58M+5.6%

Baltimore

$798.01M+1.3%

New York

$768.16M+4.3%

Orlando/Daytona

$652.93M+10.7%

Seattle/Tacoma

$634.81M0.0%

Miami

$631.69M+12.1%

San Francisco

$570.13M+2.3%

Chicago

$530.28M+2.1%

Atlanta

$482.92M+11.2%

Tampa

$450.31M+21.2%

Phoenix

$367.87M0.0%

Denver

$362.01M+10.3%

Philadelphia

$341.3M+14.7%

Oklahoma City

$328.65M+5.8%

Detroit

$289.35M0.0%

San Antonio

$250.28M+5.3%

Charlotte

$250.14M0.0%

Raleigh

$247.52M+5.8%

West Palm Beach

$246.48M+11.3%

Portland

$233.93M+3.9%

Boston

$230.43M+3.0%

Austin

$224.07M+5.6%

Columbia

$188.85M+13.9%

Indianapolis

$171.25M0.0%

Memphis

$167.9M0.0%

San Diego

$162.04M0.0%

Honolulu

$161.34M+27.0%

Columbus

$143.21M0.0%

Nashville/Bowling Green

$142.35M+6.1%

Mobile

$141.14M+42.0%

Norfolk

$131.95M+5.2%

Boise

$130.09M+80.9%

Fort Myers/Naples

$121.93M0.0%

Sacramento

$115.14M+24.7%

Kansas City

$114.08M0.0%

Charleston

$90.95M+31.5%

Greensville/Spartanburg/Asheville

$79.87M+8.5%

Cincinnati

$79.21M0.0%

New Orleans

$76.86M+6.1%

Omaha

$69.09M0.0%

Colorado Springs

$64.57M0.0%

Savannah

$63.26M+21.3%

Chattanooga

$58.72M+28.8%

Richmond

$56.2M0.0%

Louisville

$50.19M0.0%

Jacksonville

$47.42M0.0%

Greensboro

$43.18M0.0%

Augusta

$43.13M+21.7%

Milwaukee

$42.15M+31.4%

Salt Lake City

$41.61M0.0%

Cleveland/Akron

$38.4M+24.8%

Roanoke

$35.72M+31.5%

Lansing

$30.74M+34.3%

Providence

$30.72M+17.6%

Birmingham

$25.57M0.0%

Tucson

$25.49M0.0%

Monterey/Salinas

$24.15M0.0%

Hartford/New Haven

$19.96M0.0%

Flint

$19.23M0.0%

Reno

$18.7M0.0%

Palm Springs

$18.07M0.0%

Buffalo/Rochester

$17.95M0.0%

Evansville

$14.32M0.0%

Dayton

$14.04M+56.4%

Huntsville/Decatur

$13.48M0.0%

Fort Wayne

$11M0.0%

Rochester

$10.79M0.0%

Santa Barbara

$9.11M0.0%

Wichita

$6.69M0.0%

Springfield/Holyoke

$3.38M0.0%

Shreveport

$3.03M0.0%

Topeka

$1.42M0.0%

Syracuse

$1.28M0.0%

Joplin

$904K0.0%

Modesto/Fresno/Stockton

$206K0.0%

Similar metrics at other companies

EXRNV — Building and Improvements Initial Cost

$551.04M+15.4%

EXRLA — Building and Improvements Initial Cost

$126.6M0.0%

INVHLas Vegas — SEC Schedule III Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Buildings And Improvements

$105.45M+9.2%

EXROK — Building and Improvements Initial Cost

$28.53M0.0%

CZRLas Vegas — Capital expenditures, net

$56M+51.4%

EXRNV — Land Initial Cost

$122.41M+23.9%

Other financials

Income statement

See full

Revenue$1.2B+2.9%

Operating income$474.3M+2.2%

Net income$526.3M+29.1%

EPS (diluted)$2.71+32.8%

Balance sheet

See full

Cash & equivalents$134.6M-53.1%

Total debt$10.3B+9.6%

Total equity$9.2B-3.6%

Total assets$19.9B+1.2%

Cash flow

See full

Operating cash flow$694.8M-1.5%

Valuation

See full

Market cap$55.25B+9.0%

P/E29×+1.1×

P/S11.4×+0.7×

Profitability

See full

Gross margin72%—

Operating margin51.6%—

Net margin39.2%-2.6pp

FCF margin64.3%—

Returns & leverage

See full

Return on equity20.3%+0.1pp

Debt / equity1.1×+0.1×

Where this comes from

Reported directly by Public Storage in its filing.

Tagged under the XBRL concept us-gaap:RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements.

The official record: Public Storage’s 10-K, filed February 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Public Storage's las vegas — initial cost, building & improvements?: Public Storage (PSA) reported las vegas — initial cost, building & improvements of $148.11M in Q4 2025.
How has Public Storage's las vegas — initial cost, building & improvements changed year-over-year?: Public Storage's las vegas — initial cost, building & improvements decreased by 0.0% year-over-year, from $148.11M to $148.11M.
What does las vegas — initial cost, building & improvements mean?: The historical cost basis of the physical structures and initial improvements made to facilities in the Las Vegas market. This excludes land value and represents the investment in the storage infrastructure itself.