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    623 Penrose St Grinnell, IA 50112

    For Sale
    $1,400,000

    Self-storage facility with expansion potential in Grinnell, Iowa.

    Property size:
    18,000 SF

    Property Features for 623 Penrose St

    General Information

    Size
    18,000 SF

    Building Details

    Year built
    2023

    Source: Jack Luster Agent Jack Luster

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Self-Storage Facility with Expansion Land

    This property presents a development opportunity featuring an existing self-storage facility with 210 units, encompassing 18,000 net rentable square feet. The site includes 4 acres of expansion land, offering potential for future growth and development. The property is located in Grinnell, Iowa.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Grinnell
    County
    Poweshiek
    State
    Iowa
    Longitude
    -92.708816
    Latitude
    41.739221

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    FAQs

    What type of property is this?
    Self storage facility - Self-storage facility with expansion potential in Grinnell, Iowa.
    Where is this self storage facility located?
    The property is located at 623 Penrose St Grinnell, IA.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: - Development opportunity with **4 acres of expansion land**; - **210 existing units**; - Built in 2023
    (618) 292-1075
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    623 Penrose St Grinnell, IA 50112
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    Grinnell, IA 50112
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    Realmo Value Estimation

    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.

    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.

    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
    623 Penrose St Grinnell, IA 50112
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