Self-Storage Condo with 14-Foot
For Sale
$79,900
208-1278 Chapman Lake Dr, Warsaw, IN 46582
Electric service, insulated walls, and dedicated lighting support practical storage use.
Property Size1,000 SF
Price / SF$79.90
Days on Market58
Property Features for 208-1278 Chapman Lake Dr
General Information
Standard status
Active
Size
1,000 SF
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
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: Sep 1
Changed: Oct 26
Last Checked: Oct 26 at 9:23PM
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 offers 1,000 square feet in a 25-by-40-foot configuration, with a 14-foot garage door and 16-foot interior ceiling height. The unit includes electric service, two LED overhead lights, six outlet receptacles, and insulated walls, supporting storage for boats, motorcycles, and other personal property.
The unit is located in Phase 2, identified as Building 2, at Sunset Storage Condos near Chapman Lake. Construction is nearly complete, with the units targeted for storage use by fall 2026. Bylaws are on file with the listing agent.
The unit is located in Phase 2, identified as Building 2, at Sunset Storage Condos near Chapman Lake. Construction is nearly complete, with the units targeted for storage use by fall 2026. Bylaws are on file with the listing agent.
Key Highlights
- 1,000‑square‑foot storage condo measuring 25 x 40 feet
- 14‑foot garage door with 16‑foot interior ceiling height
- Electric service, 2 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
12
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 - Electric service, insulated walls, and dedicated lighting support practical storage use.
Where is this self storage facility located?
The property is located at 208-1278 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: 1,000‑square‑foot storage condo measuring 25 x 40 feet; 14‑foot garage door with 16‑foot interior ceiling height; Electric service, 2 LED overhead lights, and 6 outlet receptacles
