Storage Condo Building with Overhead
For Sale
$214,775
Pending
3045 Capital Way, Cedar Falls, IA 50613
COMMERCIAL - Cedar Falls, IA
Property Size1,980 SF
Lot Size3.00 Acres
Days on Market112
Property Features for 3045 Capital Way
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
m-1
Directions
West off Hudson Rd to Viking Rd curve South to Production DR to Capital way
Standard status
Pending
APN
891434277043
Lot size
3.00 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
WEST VIKING RD IND PARK PHASE I LOT 6
Tax Annual Amount
319
Legal Description
WEST VIKING RD IND PARK PHASE I LOT 6
Building Details
Year built
2025
Listing Agency:
Structure Real Estate
(319) 260-2016
Listed By:
Brian Wingert · License #B60468000
(319) 404-4884
Added: Apr 27
Changed: Aug 4
Last Checked: Aug 16 at 6:06PM
MLS# 20261754
Copyright © 2026 Northeast Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Build-to-suit self storage condos and small business suites under construction at 3045 Capital Way in Cedar Falls, IA. The offering features a condo-style building with 1980 square feet and a 2025 build timeline. Units are designed with insulated walls, a heating/cooling unit, and a finished bathroom.
Each unit includes a dedicated bay layout with separate utilities, including separate electric and water meters. One example configuration is a 44x45 space with 16' ceilings and overhead-door access, plus a walk-in door adjacent to the overhead door. The overhead doors are specified as (2) 12' wide and 14' tall.
The property sits on 3 acres in the M-1 zoning district, within Cedar Falls’ Industrial Park area, supporting a range of light industrial and storage-focused tenant needs.
Each unit includes a dedicated bay layout with separate utilities, including separate electric and water meters. One example configuration is a 44x45 space with 16' ceilings and overhead-door access, plus a walk-in door adjacent to the overhead door. The overhead doors are specified as (2) 12' wide and 14' tall.
The property sits on 3 acres in the M-1 zoning district, within Cedar Falls’ Industrial Park area, supporting a range of light industrial and storage-focused tenant needs.
Key Highlights
- 3‑acre site in M‑1 zoning
- Under construction with 2025 year built
- Condo‑style storage building with 1980 square feet
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
$8,883
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
4.14%
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%
$177,660
$177.7K
Cap Rate 7%
$126,900
$126.9K
Cap Rate 9%
$98,700
$98.7K
Market Conditions
NOI Build-Up for 1,980 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
$14.5K $7.32/SF
− Vacancy
−$828 −$0.42/SF
EGI
$13.7K $6.90/SF
− OpEx
−$4.8K −$2.42/SF
NOI
$8.9K $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%
$177,660
Cap Rate 7%
$126,900
Cap Rate 9%
$98,700
Alternative Uses
Best Use
Warehouse
$2.00M
$1.75M – $2.34M
NOI $140,155 @ 7.0% cap · market cap 65.26%
Second Best
Industrial
$1.65M
$1.44M – $1.92M
NOI $115,422 @ 7.0% cap · market cap 53.74%
Theoretical Best
Mixed Use
$2.48M
$2.17M – $2.90M
NOI $173,745 @ 7.0% cap · market cap 80.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage condos under construction in an M-1 industrial setting with insulated interiors, HVAC, and an overhead-door bay layout.
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 $214,775.
What are key features of this property?
This property features: 3‑acre site in M‑1 zoning; Under construction with 2025 year built; Condo‑style storage building with 1980 square feet
