Storage Condo with Overhead
3512 S Gateway Ln Sioux Falls, SD 57106
For Sale
Contact for pricing
Secure, gated storage condo with a roll-up 10 x 14 overhead door and utilities, including in-floor heat and sprinklers.
Property Size800 SF
Price / SF$169.88
Days on Market101
Property Features for 3512 S Gateway Ln
General Information
- Standard status
- Active
- Size
- 800 SF
- Property subtype
- Self Storage
Building Details
- Year Built
- 2018
Listing Agency:
Murphy Business of Sioux Falls, LLC
Listed By:
Bryan Mulder · License #SD 14030
Source:
Crexi
Added: Apr 14
Changed: Jul 23
Last Checked: Jul 23 at 5:30AM
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 Murphy Business of Sioux Falls, LLC
Investment Insights
Based on property information with market context.
This 800 sq. ft. storage condo (15 x 50) is set up as a clean, open workspace behind a roll-up 10 x 14 overhead door. The unit includes in-floor heat, a water hook-up to the unit, electrical hookups, and plumbing that is capped off, with a sprinkler system already in place.
The storage condo is located within a secure, gated community. An association members restroom is located a couple of doors down. Per the association by-laws, business operations are not permitted, helping support a quiet, maintained environment for owners.
Association fees are listed in the range of $65–$75 per month, and electric has been running approximately $20–$40 per month. Two car lifts are available for an additional price.
The storage condo is located within a secure, gated community. An association members restroom is located a couple of doors down. Per the association by-laws, business operations are not permitted, helping support a quiet, maintained environment for owners.
Association fees are listed in the range of $65–$75 per month, and electric has been running approximately $20–$40 per month. Two car lifts are available for an additional price.
Key Highlights
- 800 SF (15 x 50) storage condo built in 2018 within a secure, gated community
- Roll‑up 10 x 14 ft overhead door opens to a clean, open workspace
- Utilities and base systems include in‑floor heat, water hook‑up to the unit, capped‑off plumbing, and electrical hookups
Financial Insights For Warehouse
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 | $8.6k | $10.80 |
| − Vacancy | −$367 | −$0.46 |
| EGI | $8.3k | $10.34 |
| − OpEx | −$1.2k | −$1.55 |
| NOI | $7.0k | $8.79 |
800 SF · lease $10.80/SF/yr · vacancy 4.25% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$100.5K
$87.9K – $117.2K
NOI $7,032 @ 7.0% cap · market cap 5.17%
Second Best
Self Storage
$96.6K
$84.6K – $112.7K
NOI $6,764 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$217.2K
$190.1K – $253.4K
NOI $15,206 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Prairie Tree Consulting
Business Management Consultant
FAQs
What type of property is this?
Self storage facility - Secure, gated storage condo with a roll-up 10 x 14 overhead door and utilities, including in-floor heat and sprinklers.
Where is this self storage facility located?
The property is located at 3512 S Gateway Ln Sioux Falls, SD.
What is the asking price?
The asking price for this property is $135,900.
What are key features of this property?
This property features: 800 SF (15 x 50) storage condo built in 2018 within a secure, gated community; Roll‑up 10 x 14 ft overhead door opens to a clean, open workspace; Utilities and base systems include in‑floor heat, water hook‑up to the unit, capped‑off plumbing, and electrical hookups
