Self-Storage Unit with
New
For Sale
$69,500
10208 N State Road 13 #10, Syracuse, IN 46567
Enclosed storage unit with loft space and round-the-clock gated entry for recreational equipment, vehicles, and household items.
Property Size800 SF
Price / SF$86.88
Days on Market3
Property Features for 10208 N State Road 13 #10
General Information
Standard status
Active
Size
800 SF
Property subtype
Commercial
Amenities
electric gate
24-hour access
Building Details
Year Built
1998
Listing Agency:
ERA Crossroads
Listed By:
Kay Young · License #18683
(574) 528-1400
Source:
Housesinfortwayne
Added: Sep 1
Last Checked: Sep 2 at 1:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA Crossroads
Investment Insights
Based on property information with market context.
This self-storage unit provides 800 square feet of enclosed space in a 20-by-40-foot configuration, with an elevated loft for additional storage. The layout accommodates a range of larger personal property, including cars, boats, jet skis, snowmobiles, furniture, and miscellaneous belongings. Constructed in 1998, the unit offers a dedicated storage solution for items requiring protection from the elements.
Entry is available 24 hours a day through an electric gate. The facility is located at 10208 N State Road 13 #10 in Syracuse, Indiana, with proximity to both Syracuse and North Webster.
Entry is available 24 hours a day through an electric gate. The facility is located at 10208 N State Road 13 #10 in Syracuse, Indiana, with proximity to both Syracuse and North Webster.
Key Highlights
- 800 SF storage unit with a 20‑by‑40‑foot footprint
- Loft area provides additional storage capacity
- 24‑hour entry through an electric gate
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$4,946
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$98,920
$98.9K
Cap Rate 7%
$70,657
$70.7K
Cap Rate 9%
$54,956
$55.0K
Market Conditions
NOI Build-Up for 800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$7.7K $9.60/SF
− Vacancy
−$614 −$0.77/SF
EGI
$7.1K $8.83/SF
− OpEx
−$2.1K −$2.65/SF
NOI
$4.9K $6.18/SF
Area
Kosciusko County, IN
Vacancy
8.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$98,920
Cap Rate 7%
$70,657
Cap Rate 9%
$54,956
Alternative Uses
Best Use
Self Storage
$70.7K
$61.8K – $82.4K
NOI $4,946 @ 7.0% cap · market cap 7.12%
Second Best
Warehouse
$54.8K
$47.9K – $63.9K
NOI $3,835 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$139.4K
$122.0K – $162.6K
NOI $9,756 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Explore this area
Business Placement
Demographics for 46567, IN
9,773
Population
5,849
Households
1.7
Avg Household Size
44
Median Age
25%
College-Educated
90%
High-School Grad
57.3 sq mi
ZIP Area
171
Density / Sq Mi
$73,277
Median Household Income
$46,327
Median Earnings
$964
Median Rent
$228,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Enclosed storage unit with loft space and round-the-clock gated entry for recreational equipment, vehicles, and household items.
Where is this self storage facility located?
The property is located at 10208 N State Road 13 #10 Syracuse, IN.
What is the asking price?
The asking price for this property is $69,500.
What are key features of this property?
This property features: 800 SF storage unit with a 20‑by‑40‑foot footprint; Loft area provides additional storage capacity; 24‑hour entry through an electric gate
