Heated Storage Condo with Overhead
2203 Mercedes Drive #7 Lynden, WA 98264
New
For Sale
$225,000
Storage condo includes a heated interior, private bathroom, and large overhead door for year-round convenience and easy access.
Property Size960 SF
Price / SF$234.38
Days on Market7
Property Features for 2203 Mercedes Drive #7
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 5:22AM
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.
For sale: a versatile storage condo at 2203 Mercedes Drive #7 in Lynden. This unit is set up to accommodate a wide range of storage needs, including RVs, boats, vehicles, business inventory, equipment, and seasonal belongings. The interior is heated for year-round usability, and the unit includes a private bathroom and a large overhead door for straightforward loading and access.
The storage condo offers practical privacy and convenience for day-to-day use, with features designed to support both personal storage and rental demand for quality storage space. If you’re seeking a single, well-appointed unit in a self-storage setting, this one is positioned as an income-producing option as well.
The storage condo offers practical privacy and convenience for day-to-day use, with features designed to support both personal storage and rental demand for quality storage space. If you’re seeking a single, well-appointed unit in a self-storage setting, this one is positioned as an income-producing option as well.
Key Highlights
- 16' x 60' storage condo built in 2023
- Heated interior for year‑round use
- Private bathroom included 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 - Storage condo includes a heated interior, private bathroom, and large overhead door for year-round convenience and easy access.
Where is this self storage facility located?
The property is located at 2203 Mercedes Drive #7 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 built in 2023; Heated interior for year‑round use; Private bathroom included in the unit
