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    Waterloo Self-Storage Complex For Sale Title is generated by Realmo AI

    3556 Marnie Avenue, Waterloo, IA 50701

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    For Sale
    $4,225,000

    High-traffic self-storage complex with indoor, outdoor storage, and office.

    Type:Investment
    Property size:
    100,880 SF
    Lot size:
    5.19 Acres
    Price / SF:
    $41/SF
    Added:
    Jan 28, 2025
    Days on Market:
    483
    Last Refresh:
    May 12 at 9:26 pm

    Property Features for 3556 Marnie Avenue

    General Information

    Standard status
    Active
    Size
    100,880 SF
    Lot size
    5.19 Acres
    Property subtype
    Investment

    Building Details

    Year Built
    2023

    We can help!

    Listing Contact
    Trev Adair

    Listing agent Trev Adair

    Listing office Pinnacle Realty LLC

    Listing date Jan 28, 2025

    Source Xome

    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 Pinnacle Realty LLC

    HighLights

    • High‑traffic location at the intersection of Hwy 20 & Hwy 63 in Waterloo, IA
    • Significant leasable space: 100,880 SF total (28,800 SF indoor, 70,800 SF outdoor)
    • Strong security features: perimeter fencing, automated gate, and high‑definition security cameras
    • Attractive 15‑year TIF package (90% for the first 10 years, then 60%)
    • Seller financing available
    • Option for current owners to stay on for operations post‑sale at below‑market management rates

    Overview

    This self-storage complex is located at the intersection of Hwy 20 & Hwy 63 in Waterloo, IA. Phase 1 opened in October 2023 and offers a total of 100,880 square feet of leasable space situated on 5.19 acres. The property includes 28,800 square feet of indoor storage with 157 drive-up units, with sizes of 10x15, 10x20, and 10x30. There is also a 1,280 square foot climate-controlled office/shop, which is currently owner-occupied but leasable. The outdoor parking area provides 70,800 square feet with 177 spaces sized 10x40. The total unit count is 335, plus the office/shop. The indoor occupancy is 75.16%, and the outdoor occupancy is 51.76%. Security features include perimeter fencing, an automated gate, and high-definition security cameras. The site benefits from a 15-year TIF package, offering 90% for the first 10 years and 60% thereafter. Seller financing is available. The current owners are open to staying on for operations post-sale at below-market management rates. This property presents an opportunity for investors or owner-users.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cedar Crossing Storage Storage Facility

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waterloo
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.3951
    Latitude
    42.466565

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    FAQs

    What type of property is this?
    Self storage facility - High-traffic self-storage complex with indoor, outdoor storage, and office.
    Where is this self storage facility located?
    The property is located at 3556 Marnie Avenue Waterloo, IA.
    What is the asking price?
    The asking price for this property is $4,225,000.
    What are key features of this property?
    This property features: High‑traffic location at the intersection of Hwy 20 & Hwy 63 in Waterloo, IA; Significant leasable space: 100,880 SF total (28,800 SF indoor, 70,800 SF outdoor); Strong security features: perimeter fencing, automated gate, and high‑definition security cameras
    (319) 393-0900
    We can help!
    Listing Contact
    Trev Adair
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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