Self-Storage Facility with Drive-Up
3556 Marnie Avenue Waterloo, IA 50701
3556 Marnie Avenue, Waterloo, IA, 50701
$4,050,000
For Sale
$4,050,000
COMMERCIAL - Waterloo, IA
Property Size30,080 SF
Lot Size5.19 Acres
Price / SF$134.64
Days on Market535
Property Features for 3556 Marnie Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Comm
- Standard status
- Active
- APN
- 881306426059
- Size
- 30,080 SF
- Lot size
- 5.19 Acres
Taxes and HOA fees
- Tax Description
- Cedar Valley Crossing Lot 3 Lot 4
- Tax Annual Amount
- 70441
Building Details
- Year built
- 2023
- Flooring type
- Concrete
- Building materials
- Pre Eng Steel
- Roof type
- Metal
Listing Agency
Pinnacle Realty LLC
(319) 393-0900
1110 Dina Ct Suite A, Cedar Rapids, IA
Listed by
Trev Adair · License #322502720
(319) 350-9476
Added: Jan 29, 2025 Checked: Jul 18 at 11:06 am
MLS# 2500689
Copyright © 2026 Cedar Rapids Area Association 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.
A self-storage complex opened in October 2023, offering leasable space across indoor storage and outdoor drive-up units. The site includes 28,800 SF of indoor storage with 157 drive-up units (10x15, 10x20, and 10x30), plus 48,680 SF of outdoor parking supporting 122 spaces (10x40). A 1,280 SF climate-controlled office/shop is included and is currently leased at $1,325 per month. Total unit count is 280.
The property is located at a high-traffic intersection of Hwy 20 and Hwy 63 in Waterloo, Iowa, at 3556 Marnie Avenue. Security features include perimeter fencing, an automated gate, and high-definition security cameras. Financial information notes occupancy of 91.08% for indoor space and 70.09% for outdoor space, with NOI of $253,289.84. The listing also references a 15-year TIF package (90% for the first 10 years, then 60% thereafter) and monthly CPA-updated financials. Seller financing is available, and owners are open to remaining for operations post-sale at below-market management rates.
The property is located at a high-traffic intersection of Hwy 20 and Hwy 63 in Waterloo, Iowa, at 3556 Marnie Avenue. Security features include perimeter fencing, an automated gate, and high-definition security cameras. Financial information notes occupancy of 91.08% for indoor space and 70.09% for outdoor space, with NOI of $253,289.84. The listing also references a 15-year TIF package (90% for the first 10 years, then 60% thereafter) and monthly CPA-updated financials. Seller financing is available, and owners are open to remaining for operations post-sale at below-market management rates.
Key Highlights
- Self‑storage complex built in 2023 with 280 total units and 78,760 SF of leasable space on 5.19 acres
- Phase 1 opened October 2023: 28,800 SF indoor storage with 157 drive‑up units (10x15, 10x20, 10x30)
- Outdoor storage includes 48,680 SF parking with 122 spaces (10x40)
Local 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 | $541.4k | $18.00 |
| − Vacancy | −$27.1k | −$0.90 |
| EGI | $514.4k | $17.10 |
| − OpEx | −$154.3k | −$5.13 |
| NOI | $360.1k | $11.97 |
30,080 SF · lease $18.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$30.42M
$26.62M – $35.49M
NOI $2,129,224 @ 7.0% cap · market cap 52.57%
Second Best
Self Storage
$5.14M
$4.50M – $6.00M
NOI $360,058 @ 7.0% cap · market cap 8.89%
Theoretical Best
Mixed Use
$37.71M
$32.99M – $43.99M
NOI $2,639,520 @ 7.0% cap · market cap 65.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Cedar Crossing Storage
Storage Facility
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Self-storage complex with indoor drive-up units, climate-controlled office/shop, and gated security on a fenced site.
Where is this self storage facility located?
The property is located at 3556 Marnie Avenue Waterloo, IA.
What is the asking price?
The asking price for this property is $4,050,000.
What are key features of this property?
This property features: Self‑storage complex built in 2023 with 280 total units and 78,760 SF of leasable space on 5.19 acres; Phase 1 opened October 2023: 28,800 SF indoor storage with 157 drive‑up units (10x15, 10x20, 10x30); Outdoor storage includes 48,680 SF parking with 122 spaces (10x40)
