Self-Storage Condo with 14-Foot
New
For Sale
$79,900
1278 Chapman Lake Drive Unit 204, Warsaw, IN 46582
Electrical service, lighting, receptacles and insulated walls support enclosed storage for boats and other personal property.
Property Size1,000 SF
Price / SF$79.90
Days on Market5
Property Features for 1278 Chapman Lake Drive Unit 204
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Building Details
Year Built
2026
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Deb Paton Showley · License #RB14043350
(574) 527-6022
Source:
Jmrealtyonline
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 4:40PM
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 Coldwell Banker Real Estate Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This self-storage condo unit measures 25 by 40 feet and is planned with a 14-foot garage door and 16-foot interior ceiling. Electrical service, two overhead LED lights and six outlet receptacles are included, and the walls are slated for insulation. The unit is part of Building 2 in Phase 2 of Sunset Storage Condos, with readiness for storage targeted for fall 2026.
The property is just off Chapman Lake. Bylaws for the condo association are on file with the listing agent.
The property is just off Chapman Lake. Bylaws for the condo association are on file with the listing agent.
Key Highlights
- 25‑by‑40‑foot self‑storage condo unit
- 14‑foot garage door and 16‑foot interior ceiling
- Electrical service, two LED overhead lights and six outlet receptacles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,182
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$123,640
$123.6K
Cap Rate 7%
$88,314
$88.3K
Cap Rate 9%
$68,689
$68.7K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$9.6K $9.60/SF
− Vacancy
−$768 −$0.77/SF
EGI
$8.8K $8.83/SF
− OpEx
−$2.6K −$2.65/SF
NOI
$6.2K $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 Rate 5%
$123,640
Cap Rate 7%
$88,314
Cap Rate 9%
$68,689
Alternative Uses
Best Use
Self Storage
$88.3K
$77.3K – $103.0K
NOI $6,182 @ 7.0% cap · market cap 7.74%
Second Best
Warehouse
$68.5K
$59.9K – $79.9K
NOI $4,794 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$174.2K
$152.4K – $203.3K
NOI $12,195 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 46582, IN
14,151
Population
7,064
Households
2
Avg Household Size
38
Median Age
35%
College-Educated
91%
High-School Grad
57.6 sq mi
ZIP Area
246
Density / Sq Mi
$67,161
Median Household Income
$43,031
Median Earnings
$1,085
Median Rent
$231,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - Electrical service, lighting, receptacles and insulated walls support enclosed storage for boats and other personal property.
Where is this self storage facility located?
The property is located at 1278 Chapman Lake Drive Unit 204 Warsaw, IN.
What is the asking price?
The asking price for this property is $79,900.
What are key features of this property?
This property features: 25‑by‑40‑foot self‑storage condo unit; 14‑foot garage door and 16‑foot interior ceiling; Electrical service, two LED overhead lights and six outlet receptacles
