Storage Condo with 14-Foot
For Sale
$169,775
3045 Capital Way, Cedar Falls, IA 50613
Condostyle industrial unit with 16-foot ceilings, insulated construction, and a private finished bathroom.
Property Size9,900 SF
Price / SF$114.33
Days on Market198
Property Features for 3045 Capital Way
General Information
Standard status
Active
Size
9,900 SF
Property subtype
Commercial
Zoning
m-1
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Amenities
3
9900
Building Details
Building Size
9,900 SF
Year Built
2025
Listing Agency:
EXIT Realty Driftless Group
(319) 899-2536
Listed By:
Emmaleigh Buck
(319) 899-2536
Source:
Pinnaclerealtyia
Added: Jan 30
Changed: Aug 16
Last Checked: Aug 16 at 3:36AM
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 EXIT Realty Driftless Group
Investment Insights
Based on property information with market context.
This for-sale condo-style industrial unit is built for flexible personal or business use, including self-storage and small business space. The space totals 33 by 45, with 16-foot ceilings and an insulated wall buildout. A heating/cooling unit is included, along with a finished bathroom. The unit features a 12-foot wide by 14-foot tall overhead door for straightforward drive-in access, and a walk-in door located adjacent to the overhead door for convenient entry without using the roll-up door.
The property is located in Cedar Falls’ Industrial Park at 3045 Capital Way. The sale includes a $200 annual HOA fee intended to cover lawn care, snow removal, and exterior insurance, supporting maintenance of common exterior areas. The buildings include separate electric and water meters, which can help simplify utility responsibility for individual unit owners.
For tenants or buyers seeking controlled, private space with practical loading access, this unit’s overhead door, insulated envelope, and climate control make it suitable for storage or a small business suite where an interior bathroom is useful. The condo configuration and separate metering support owner-occupancy or independent operation of the unit.
The property is located in Cedar Falls’ Industrial Park at 3045 Capital Way. The sale includes a $200 annual HOA fee intended to cover lawn care, snow removal, and exterior insurance, supporting maintenance of common exterior areas. The buildings include separate electric and water meters, which can help simplify utility responsibility for individual unit owners.
For tenants or buyers seeking controlled, private space with practical loading access, this unit’s overhead door, insulated envelope, and climate control make it suitable for storage or a small business suite where an interior bathroom is useful. The condo configuration and separate metering support owner-occupancy or independent operation of the unit.
Key Highlights
- Condo‑style industrial unit in Cedar Falls Industrial Park with 16‑foot ceilings
- Includes 33x45 unit layout with a 12' wide x 14' tall overhead door and 16' ceilings
- Units feature insulated walls, heating/cooling, and a finished bathroom
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
$6,662
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
3.92%
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%
$133,240
$133.2K
Cap Rate 7%
$95,171
$95.2K
Cap Rate 9%
$74,022
$74.0K
Market Conditions
NOI Build-Up for 1,485 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
$10.9K $7.32/SF
− Vacancy
−$621 −$0.42/SF
EGI
$10.2K $6.90/SF
− OpEx
−$3.6K −$2.42/SF
NOI
$6.7K $4.49/SF
Area
Black Hawk County, IA
Vacancy
5.71%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
35.00%
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%
$133,240
Cap Rate 7%
$95,171
Cap Rate 9%
$74,022
Alternative Uses
Best Use
Warehouse
$1.50M
$1.31M – $1.75M
NOI $105,116 @ 7.0% cap · market cap 61.91%
Second Best
Industrial
$1.24M
$1.08M – $1.44M
NOI $86,566 @ 7.0% cap · market cap 50.99%
Theoretical Best
Mixed Use
$1.86M
$1.63M – $2.17M
NOI $130,309 @ 7.0% cap · market cap 76.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Condostyle industrial unit with 16-foot ceilings, insulated construction, and a private finished bathroom.
Where is this self storage facility located?
The property is located at 3045 Capital Way Cedar Falls, IA.
What is the asking price?
The asking price for this property is $169,775.
What are key features of this property?
This property features: Condo‑style industrial unit in Cedar Falls Industrial Park with 16‑foot ceilings; Includes 33x45 unit layout with a 12' wide x 14' tall overhead door and 16' ceilings; Units feature insulated walls, heating/cooling, and a finished bathroom
