Self-Storage Condo with Garage
For Sale
$79,900
1278 Chapman Lake Drive #208, Warsaw, IN 46582
Electrical service, insulated walls and a 14-foot garage door accommodate boat and personal-property storage.
Property Size1,000 SF
Price / SF$79.90
Days on Market9
Property Features for 1278 Chapman Lake Drive #208
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
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 26
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 measures 25 by 40 feet and includes a 14-foot garage door, 16-foot interior ceiling, two LED overhead lights and six electrical receptacles. Electrical service is planned for the unit, and the walls will be insulated. The property is part of Building 2, Phase 2 of Sunset Storage Condos, with construction nearly complete and storage readiness targeted for fall 2026.
The development is located just off Chapman Lake, with the unit addressed on Chapman Lake Drive in Warsaw, Indiana.
The development is located just off Chapman Lake, with the unit addressed on Chapman Lake Drive in Warsaw, Indiana.
Key Highlights
- 25‑by‑40‑foot self‑storage condo
- 14‑foot garage door and 16‑foot interior ceiling
- Electrical service, two LED overhead lights and six 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
1
Drive-in doors
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 - Electrical service, insulated walls and a 14-foot garage door accommodate boat and personal-property storage.
Where is this self storage facility located?
The property is located at 1278 Chapman Lake Drive #208 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; 14‑foot garage door and 16‑foot interior ceiling; Electrical service, two LED overhead lights and six receptacles
