Sunset Storage Condos For
1278 Chapman Lake Drive Warsaw, IN 46582
For Sale
Contact for pricing
Storage condos near Chapman Lake with electric and tall ceilings.
Property Size1,000 SF
Price / SF$79.90
Days on Market166
Property Features for 1278 Chapman Lake Drive
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Special Purpose
Building Details
Year Built
2026
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
DEB PATON-SHOWLEY · License #IN
Source:
Crexi
Added: Feb 13
Changed: Jul 10
Last Checked: Jul 27 at 5:06PM
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 For Self Storage
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $9.6k | $9.60 |
| − Vacancy | −$768 | −$0.77 |
| EGI | $8.8k | $8.83 |
| − OpEx | −$2.6k | −$2.65 |
| NOI | $6.2k | $6.18 |
1,000 SF · lease $9.60/SF/yr · vacancy 8.00% · expense 30.00%
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
Property Profile
Location Intelligence
Current Use
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 Drive 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.
