43rd Street Storage
13,450 SF Specialty Building Offered at $925,000 at a 7.24% Cap Rate in Cedar Rapids, IA 52403
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $925,000
- Property Type
-
Specialty
- Square Feet
- 13,450 SF
- Price / Square Foot
- $69
Listing Contacts
Harrison Haynes
Verified Profile
Jack Luster
Verified Profile
- Property Info
Property Overview
This 77-unit site features drive up non-climate-controlled
storage and another 10 exterior parking spaces that
accumulate revenue as well. This deal offers a great
component of value add as current rental rates ($0.52 per
foot per month) are sitting far below the $0.95 per foot per
month for the Cedar Rapids and Iowa City Markets. Through
our analysis we find that a management crew can fully
maximize this properties potential. The property is located
on the east side of cedar rapids near strong and densely
populated neighborhoods. One of the reasons this facility
has been able to maintain 100% occupancy.
storage and another 10 exterior parking spaces that
accumulate revenue as well. This deal offers a great
component of value add as current rental rates ($0.52 per
foot per month) are sitting far below the $0.95 per foot per
month for the Cedar Rapids and Iowa City Markets. Through
our analysis we find that a management crew can fully
maximize this properties potential. The property is located
on the east side of cedar rapids near strong and densely
populated neighborhoods. One of the reasons this facility
has been able to maintain 100% occupancy.
Property Details
- Class
- C
- Year Built/Renovated
- 2005/2013
- Stories
- 1
- Property Subtype
- Self-Storage
- Lot Size (sq. ft)
- 59,242 SF
Highlights
- 100% occupancy
- Self-managed
- Fully gated
- 10x10 office space
- Additional outdoor parking spaces
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