Self Storage
For Sale
$4,150,000
1308 Adair Ct SW, Cedar Rapids, IA 52404
Commercial, Cedar Rapids, IA
Property Size43,380 SF
Lot Size3.49 Acres
Price / SF$95.67
Days on Market92
Property Features for 1308 Adair Ct SW
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
Com
Directions
From I-380, take Exit 13 for Wright Brothers Blvd SW. Head west toward the Eastern Iowa Airport, turn left/south onto Frontage Rd SW, then turn right onto Adair Ct SW. The property is located at 1308 Adair Ct SW.
Subdivision
SW Quadrant
Standard status
Active
APN
192920101900000
Size
43,380 SF
Lot size
3.49 Acres
Taxes and HOA fees
Tax Description
IOWA DEVELOPMENT 1ST LOTS 4 & 5
Tax Annual Amount
204
Legal Description
IOWA DEVELOPMENT 1ST LOTS 4 & 5
Building Details
Year built
2025
Flooring type
Concrete
Listing Agency:
Pinnacle Realty LLC
(319) 393-0900
Listed By:
Barry Frink
(319) 350-9476
Added: Jul 14
Changed: Sep 28
Last Checked: Oct 13 at 8:06PM
MLS# 2605019
Copyright © 2026 Cedar Rapids Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-storage complex includes 168 units across several configurations, with 10x20, 10x30, and 14x40 options. Select units include electricity, while other 14x40 units are non-electric. The property contains 43,380 square feet on 3.49 acres, with concrete flooring throughout. Commercial zoning is identified as Com.
Located next to the Eastern Iowa Airport at 1308 Adair Ct SW, the facility offers access to major highways and serves a broad range of storage requirements. The site includes a mix of standard and larger-format units, including five non-electric 14x40 units and three electric 14x40 units. The property information identifies the facility as under construction and built in 2025.
Located next to the Eastern Iowa Airport at 1308 Adair Ct SW, the facility offers access to major highways and serves a broad range of storage requirements. The site includes a mix of standard and larger-format units, including five non-electric 14x40 units and three electric 14x40 units. The property information identifies the facility as under construction and built in 2025.
Key Highlights
- 168 total storage units across multiple configurations
- 43,380 square feet on 3.49 acres
- Unit mix includes 10x20, 10x30, and 14x40 sizes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$368,765
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,375,300
$7.4M
Cap Rate 7%
$5,268,071
$5.3M
Cap Rate 9%
$4,097,389
$4.1M
Market Conditions
NOI Build-Up for 43,380 SF
Gross rent
$572.6K $13.20/SF
− Vacancy
−$45.8K −$1.06/SF
EGI
$526.8K $12.14/SF
− OpEx
−$158.0K −$3.64/SF
NOI
$368.8K $8.50/SF
Area
Cedar Rapids, IA
Vacancy
8.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,375,300
Cap Rate 7%
$5,268,071
Cap Rate 9%
$4,097,389
Alternative Uses
Best Use
Self Storage
$5.27M
$4.61M – $6.15M
NOI $368,765 @ 7.0% cap · market cap 8.89%
Second Best
Warehouse
$3.95M
$3.45M – $4.60M
NOI $276,191 @ 7.0% cap · market cap 6.66%
Theoretical Best
Specialty Retail
$6.28M
$5.49M – $7.32M
NOI $439,493 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Explore this area
Business Placement
Demographics for 52404, IA
43,385
Population
19,923
Households
2.2
Avg Household Size
35
Median Age
22%
College-Educated
94%
High-School Grad
56.6 sq mi
ZIP Area
767
Density / Sq Mi
$62,304
Median Household Income
$38,865
Median Earnings
$885
Median Rent
$159,700
Median Home Value
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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 - The complex offers multiple storage formats, including dedicated electric and non-electric unit options.
Where is this self storage facility located?
The property is located at 1308 Adair Ct SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $4,150,000.
What are key features of this property?
This property features: 168 total storage units across multiple configurations; 43,380 square feet on 3.49 acres; Unit mix includes 10x20, 10x30, and 14x40 sizes
