Heated Storage Condo
2203 Mercedes Drive #5 Lynden, WA 98264
New
For Sale
$225,000
A 16' x 60' storage condo unit with a heated interior, private bathroom, and large overhead door for easy access.
Property Size960 SF
Price / SF$234.38
Days on Market7
Property Features for 2203 Mercedes Drive #5
General Information
- Standard status
- Active
- Size
- 960 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2023
Listing Agency:
HOMESMART ONE REALTY
(360) 738-9086
Listed By:
DARREN JOHNSON
Source:
Corcoran
Added: Jul 21
Changed: Jul 25
Last Checked: Jul 27 at 5:17AM
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 HOMESMART ONE REALTY
Investment Insights
Based on property information with market context.
This offering is a versatile storage condo unit sized 16' x 60', designed for secure, convenient storage. The unit includes a heated interior, a private bathroom, and a large overhead door intended to support easy loading and year-round use.
Located at 2203 Mercedes Drive #5 in Lynden, the property is presented as a stand-alone storage condo option that can work for personal storage needs or for rental income.
The configuration centers on an enclosed storage space with dedicated interior amenities and straightforward access via the overhead door.
Located at 2203 Mercedes Drive #5 in Lynden, the property is presented as a stand-alone storage condo option that can work for personal storage needs or for rental income.
The configuration centers on an enclosed storage space with dedicated interior amenities and straightforward access via the overhead door.
Key Highlights
- 16' x 60' storage condo unit
- Year‑round convenience with heated interior
- Private bathroom in the unit
Financial Insights For Self Storage
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.7k | $13.20 |
| − Vacancy | −$570 | −$0.59 |
| EGI | $12.1k | $12.61 |
| − OpEx | −$3.6k | −$3.78 |
| NOI | $8.5k | $8.82 |
960 SF · lease $13.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Self Storage
$121.0K
$105.9K – $141.2K
NOI $8,471 @ 7.0% cap · market cap 3.76%
Second Best
Warehouse
$102.9K
$90.0K – $120.0K
NOI $7,200 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$226.5K
$198.2K – $264.2K
NOI $15,853 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Self storage facilities
FAQs
What type of property is this?
Self storage facility - A 16' x 60' storage condo unit with a heated interior, private bathroom, and large overhead door for easy access.
Where is this self storage facility located?
The property is located at 2203 Mercedes Drive #5 Lynden, WA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 16' x 60' storage condo unit; Year‑round convenience with heated interior; Private bathroom in the unit
