Customizable Storage Condos For
For Sale
$159,900
1600 Sorensen St, Cumberland, WI 54829
Premium storage condos with customizable options and low-maintenance ownership.
Property Size1,200 SF
Price / SF$133.25
Days on Market114
Property Features for 1600 Sorensen St
General Information
Standard status
Active
Size
1,200 SF
Listing Agency:
Edina Realty, Corp. - Cumberland
(651) 253-5651
Listed By:
Jessica Longtine · License #9281494
(651) 253-5651
Source:
Exprealty
Added: May 2
Changed: Aug 21
Last Checked: Aug 22 at 10:05AM
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 Edina Realty, Corp. - Cumberland
Investment Insights
Based on property information with market context.
Baystak Garage Condos offer a unique opportunity to own a customizable storage condo. These steel-frame units, built by J&A Northwest Construction, provide a blend of function, flexibility, and durability. Each unit features over 1,200 sq ft of space and 14 ft doors, suitable for storing boats, vehicles, recreational toys, or creating a private space. Units can be built to suit specific needs. Year-round comfort is ensured with heating and cooling options, along with a bathroom option and an optional mezzanine level for added storage or usable space. The development includes a blacktop parking lot and 60' wide drive aisles for maneuverability. Located in Cumberland, access is simple and efficient. Ownership is low-maintenance, with an HOA covering lawn care, snow removal, and insurance. Construction is underway, with anticipated completion in September 2026. These storage condos are an ideal solution for those needing extra space. Owners can design their own interior and enjoy a maintenance-free ownership experience.
Key Highlights
- Spacious 1,200+ sq ft customizable storage condo with 14 ft doors.
- Low‑maintenance ownership with HOA covering lawn care, snow removal, and insurance.
- Heating and cooling included for year‑round comfort.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,288
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,760
$285.8K
Cap Rate 7%
$204,114
$204.1K
Cap Rate 9%
$158,756
$158.8K
Market Conditions
NOI Build-Up for 1,200 SF
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.
Gross rent
$21.6K $18.00/SF
− Vacancy
−$1.2K −$0.99/SF
EGI
$20.4K $17.01/SF
− OpEx
−$6.1K −$5.10/SF
NOI
$14.3K $11.91/SF
Area
Barron County, WI
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,760
Cap Rate 7%
$204,114
Cap Rate 9%
$158,756
Alternative Uses
Best Use
Industrial
$794.0K
$694.8K – $926.4K
NOI $55,581 @ 7.0% cap · market cap 34.76%
Second Best
Self Storage
$204.1K
$178.6K – $238.1K
NOI $14,288 @ 7.0% cap · market cap 8.94%
Theoretical Best
Warehouse
$964.2K
$843.7K – $1.12M
NOI $67,492 @ 7.0% cap · market cap 42.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 54829, WI
5,326
Population
3,140
Households
1.7
Avg Household Size
48
Median Age
27%
College-Educated
94%
High-School Grad
143.5 sq mi
ZIP Area
37
Density / Sq Mi
$61,276
Median Household Income
$32,487
Median Earnings
$892
Median Rent
$214,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Premium storage condos with customizable options and low-maintenance ownership.
Where is this self storage facility located?
The property is located at 1600 Sorensen St Cumberland, WI.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Spacious 1,200+ sq ft customizable storage condo with 14 ft doors.; Low‑maintenance ownership with HOA covering lawn care, snow removal, and insurance.; Heating and cooling included for year‑round comfort.
