Self-Storage Condo with Garage
For Sale
$79,900
1278 Chapman Lake Drive #201, Warsaw, IN 46582
A private storage unit is planned with electrical service and insulated walls for storing boats, motorcycles, and other belongings.
Property Size1,000 SF
Price / SF$79.90
Days on Market9
Property Features for 1278 Chapman Lake Drive #201
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
16 ft
Self-Storage Units
1
Additional Details
Property Use
Self Storage
Building Details
Year Built
2026
Buildings
1
Stories
1
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Deb Paton Showley · License #RB14043350
(574) 527-6022
Source:
Castleonerealty
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 26 at 3:48AM
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
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Investment Insights
Based on property information with market context.
This self-storage condo is part of Building 2 in Phase 2 of Sunset Storage Condos. The unit measures 25 by 40 feet and is designed with a 14-foot garage door and 16-foot interior ceiling. Planned features include electrical service, two LED overhead lights, six receptacles, and insulated walls.
Construction is nearly complete, with storage readiness targeted for fall 2026. The property is just off Chapman Lake Drive, near Chapman Lake.
Construction is nearly complete, with storage readiness targeted for fall 2026. The property is just off Chapman Lake Drive, near Chapman Lake.
Key Highlights
- 25 x 40‑foot storage 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.
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Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
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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
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - A private storage unit is planned with electrical service and insulated walls for storing boats, motorcycles, and other belongings.
Where is this self storage facility located?
The property is located at 1278 Chapman Lake Drive #201 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 x 40‑foot storage unit; 14‑foot garage door and 16‑foot interior ceiling; Electrical service, two LED overhead lights, and six outlet receptacles
