Lake-Area Self Storage
For Sale
$79,900
205-1278 Chapman Lake Dr, Warsaw, IN 46582
Insulated storage unit with electrical service, LED lighting, receptacles, and garage access near Chapman Lake.
Property Size1,000 SF
Price / SF$79.90
Days on Market258
Property Features for 205-1278 Chapman Lake Dr
General Information
Standard status
Active
Size
1,000 SF
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Self-Storage Units
1
Taxes and HOA fees
Annual Taxes
$668
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Deb Paton Showley · License #RB14043350
(574) 527-6022
Source:
Exprealty
Added: Feb 12
Changed: Oct 25
Last Checked: Oct 26 at 6:42PM
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 25x40 and is designed for storing boats, household overflow, and other personal property. The unit includes a 14-foot garage door, a 16-foot interior ceiling, two LED overhead lights, six outlet receptacles, and insulated walls. Electric service is planned to the site.
The property is located at 205-1278 Chapman Lake Dr in Warsaw, just off Chapman Lake. This offering is part of Phase 2 of Sunset Storage Condos, with construction expected to begin soon and completion estimated for late spring. Custom units are planned for Building 3, and bylaws are on file with the listing agent.
The property is located at 205-1278 Chapman Lake Dr in Warsaw, just off Chapman Lake. This offering is part of Phase 2 of Sunset Storage Condos, with construction expected to begin soon and completion estimated for late spring. Custom units are planned for Building 3, and bylaws are on file with the listing agent.
Key Highlights
- 25x40 self‑storage condo unit
- 14‑foot garage door and 16 ft ceiling height
- Two LED overhead lights and 6 outlet 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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - Insulated storage unit with electrical service, LED lighting, receptacles, and garage access near Chapman Lake.
Where is this self storage facility located?
The property is located at 205-1278 Chapman Lake Dr 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 self‑storage condo unit; 14‑foot garage door and 16 ft ceiling height; Two LED overhead lights and 6 outlet receptacles
