Warehouse Storage
New
For Sale
$79,900
1278 Chapman Lake Drive Unit 203, Warsaw, IN 46582
The enclosed unit is designed for boat, motorcycle, and surplus-item storage, with insulated walls and electrical service.
Property Size1,000 SF
Price / SF$79.90
Days on Market7
Property Features for 1278 Chapman Lake Drive Unit 203
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Self-Storage Units
1
Additional Details
Property Use
Self Storage
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: Nov 1
Last Checked: Nov 1 at 1:45AM
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 warehouse storage condo measures 25x40 and is configured for storing boats, motorcycles, and other belongings. Features include a 14-foot garage door, 16 ft ceiling height, insulated walls, electrical service, 2 LED overhead lights, and 6 outlet receptacles.
The unit is in Building 2 of Sunset Storage Condos, just off Chapman Lake. Construction is nearly complete, with units targeted to be ready for storage by fall 2026.
The unit is in Building 2 of Sunset Storage Condos, just off Chapman Lake. Construction is nearly complete, with units targeted to be ready for storage by fall 2026.
Key Highlights
- 25x40 storage unit with 16 ft ceiling height
- 14‑foot garage door
- Insulated walls and electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,794
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$95,880
$95.9K
Cap Rate 7%
$68,486
$68.5K
Cap Rate 9%
$53,267
$53.3K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$6.0K $6.00/SF
− Vacancy
−$360 −$0.36/SF
EGI
$5.6K $5.64/SF
− OpEx
−$846 −$0.85/SF
NOI
$4.8K $4.79/SF
Area
Kosciusko County, IN
Vacancy
6.00%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$95,880
Cap Rate 7%
$68,486
Cap Rate 9%
$53,267
Alternative Uses
Best Use
Warehouse
$68.5K
$59.9K – $79.9K
NOI $4,794 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
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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Property Analytics
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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
Well-served
Demand for This Use
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
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Warehouse - The enclosed unit is designed for boat, motorcycle, and surplus-item storage, with insulated walls and electrical service.
Where is this warehouse located?
The property is located at 1278 Chapman Lake Drive Unit 203 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 unit with 16 ft ceiling height; 14‑foot garage door; Insulated walls and electrical service
