Sunset Storage Condos For
For Sale
$79,900
1278 Chapman Lake Dr, Warsaw, IN 46582
Storage condos near Chapman Lake with electric and tall ceilings.
Property Size1,000 SF
Price / SF$79.90
Days on Market198
Property Features for 1278 Chapman Lake Dr
General Information
Standard status
Active
Size
1,000 SF
Building Details
Year Built
2026
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Deb Paton Showley · License #RB14043350
(574) 527-6022
Source:
Theferrellgroupkw
Added: Mar 27
Changed: Oct 9
Last Checked: Oct 7 at 2:35PM
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
Investment Insights
Based on property information with market context.
Sunset Storage Condos, situated just off Chapman Lake, offer a solution for those needing additional lake storage. Multiple size options are available. This unit measures 25x40 and includes electric service to the site. It features a 14-foot garage door and an interior ceiling height of 16 feet. The unit is equipped with 2 LED overhead lights and 6 outlet receptacles, and the walls are insulated. Phase 2 of Sunset Storage Condos is breaking ground soon, with an estimated completion date in late spring. These units are designed for storing boats and excess items.
Key Highlights
- 25x40 storage condo near Chapman Lake, ideal for lake house storage overflow.
- Electric to the site, 14‑foot garage door, and 16‑foot ceiling height.
- Walls will be insulated, 2 LED overhead lights, and 6 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
Industrial
$62.7K
$54.9K – $73.2K
NOI $4,389 @ 7.0% cap · market cap 5.49%
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.
Property Analytics
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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
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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 - Storage condos near Chapman Lake with electric and tall ceilings.
Where is this self storage facility located?
The property is located at 1278 Chapman Lake Dr 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: 25x40 storage condo near Chapman Lake, ideal for lake house storage overflow.; Electric to the site, **14‑foot garage door, and 16‑foot ceiling height.**; Walls will be insulated, 2 LED overhead lights, and 6 outlet receptacles.
