Self-Storage Unit with
New
For Sale
$69,500
10208 N STATE ROAD 13 #10, Syracuse, IN 46567
COMMERCIAL, Syracuse, IN
Property Size800 SF
Price / SF$86.88
Days on Market5
Property Features for 10208 N STATE ROAD 13 #10
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street
Fencing
Chain Link
Lot features
Rural
Directions
ST. RD. 13 NORTH OF THE MIDDLE SCH
Subdivision
Kosciusko County
Standard status
Active
APN
43-04-22-200-273.000-025
Taxes and HOA fees
Tax Year
2026
Tax Description
WAWASEE STORAGE CONDOMINIUM #10
Tax Annual Amount
525
Legal Description
WAWASEE STORAGE CONDOMINIUM #10
Amenities
24-hour access
electric gate
Building Details
Year built
1998
Flooring type
Concrete
Roof type
Asphalt
Listing Agency:
ERA Crossroads
(574) 457-4417
Listed By:
Kay Young · License #RB14019200
(574) 528-1400
Added: Aug 29
Changed: Sep 1
Last Checked: Sep 2 at 2:06AM
MLS# 202635897
Copyright © 2026 Kosciusko Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-storage unit provides a 20 x 40 configuration with an interior loft for additional storage. The space has concrete flooring, an asphalt roof, and access to off-street parking within a chain-link-fenced storage area. The unit was built in 1998.
Entry is available 24 hours a day through an electric gate. The property is situated near both Syracuse and North Webster in Kosciusko County, providing access to nearby communities for storage users.
Entry is available 24 hours a day through an electric gate. The property is situated near both Syracuse and North Webster in Kosciusko County, providing access to nearby communities for storage users.
Key Highlights
- 20 X 40 storage unit with loft area
- 24‑hour entry through an electric gate
- Concrete flooring
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 - Storage unit includes loft capacity and 24-hour access through an electric gate.
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: 20 X 40 storage unit with loft area; 24‑hour entry through an electric gate; Concrete flooring
