Self-Storage Facility with Manager
For Sale
$2,700,000
1101 W Norris Dr, Ottawa, IL 61350
Secured storage property with automated entry, on-site management space, and a range of unit sizes.
Property Size27,310 SF
Days on Market58
Property Features for 1101 W Norris Dr
General Information
Standard status
Active
Size
27,310 SF
Total Parking Spaces
51
Property subtype
Commercial
Net Operating Income
$174,406
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Self-Storage Units
173
Building Details
Building Size
27,310 SF
Year Built
2000
Listed By:
Rob Cook · License #475171700 (IL)
(872) 260-6631
Source:
Matthews
Added: Aug 19
Changed: Oct 2
Last Checked: Oct 14 at 7:32PM
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 Rob Cook
Investment Insights
Based on property information with market context.
This self-storage facility, built in 2000, includes 173 storage units and 51 parking spaces. The property offers multiple unit sizes, a secured layout with an automated entry gate, and an on-site manager’s office with an apartment.
Located along US HWY 6 at 1101 W Norris Dr in Ottawa, Illinois, the facility provides direct access to the highway. Starved Rock State Park is approximately a 15-minute drive away, adding a recognizable regional destination to the surrounding context.
Located along US HWY 6 at 1101 W Norris Dr in Ottawa, Illinois, the facility provides direct access to the highway. Starved Rock State Park is approximately a 15-minute drive away, adding a recognizable regional destination to the surrounding context.
Key Highlights
- 173 storage units across a range of unit sizes
- 51 parking spaces included
- Secured property with automated entry gate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$237,204
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,744,080
$4.7M
Cap Rate 7%
$3,388,629
$3.4M
Cap Rate 9%
$2,635,600
$2.6M
Market Conditions
NOI Build-Up for 27,310 SF
Gross rent
$360.5K $13.20/SF
− Vacancy
−$21.6K −$0.79/SF
EGI
$338.9K $12.41/SF
− OpEx
−$101.7K −$3.72/SF
NOI
$237.2K $8.69/SF
Area
LaSalle, IL
La Salle County, LA
Vacancy
6.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,744,080
Cap Rate 7%
$3,388,629
Cap Rate 9%
$2,635,600
Alternative Uses
Best Use
Self Storage
$3.39M
$2.97M – $3.95M
NOI $237,204 @ 7.0% cap · market cap 8.79%
Second Best
Warehouse
$3.05M
$2.67M – $3.55M
NOI $213,225 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$6.84M
$5.98M – $7.97M
NOI $478,471 @ 7.0% cap · market cap 17.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Explore this area
Business Placement
Demographics for 61350, IL
23,997
Population
10,853
Households
2.2
Avg Household Size
43
Median Age
22%
College-Educated
93%
High-School Grad
152.5 sq mi
ZIP Area
157
Density / Sq Mi
$77,562
Median Household Income
$43,042
Median Earnings
$940
Median Rent
$157,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Secured storage property with automated entry, on-site management space, and a range of unit sizes.
Where is this self storage facility located?
The property is located at 1101 W Norris Dr Ottawa, IL.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 173 storage units across a range of unit sizes; 51 parking spaces included; Secured property with automated entry gate
