Drive-Up Self Storage
623 Penrose Street Grinnell, IA 50112
623 Penrose Street, Grinnell, IA, 50112
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For Sale
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Modern 2022 storage facility with gated, fenced access, office and kiosk, and 198 non-climate units for drive-up use.
Property Size18,000 SF
Lot Size6.24 Acres
Price / SF$61.11
Days on Market51
Property Features for 623 Penrose Street
General Information
- Standard status
- Active
- Size
- 18,000 SF
- Lot size
- 6.24 Acres
- Property subtype
- Self Storage
Listing agency
Lindsey Self Storage
(612) 759-0982
Listed by
Nick Anderson · License #40831144
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 1:52PM Checked: Jul 21 at 12:35PM
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 Lindsey Self Storage
Investment Insights
Based on property information with market context.
Executive Storage is a modern, drive-up self-storage facility built in 2022, offering 18,000 net rentable square feet across 198 rentable units. The property is configured as a non-climate-controlled storage operation, with a gated, secured, and fenced perimeter. An on-site office and kiosk support day-to-day customer access and property management.
The facility sits on a spacious 6.24-acre lot in Grinnell, Iowa. The site design includes direct physical expansion capabilities, with excess land available for additional storage development or outdoor parking. The property also benefits from ongoing local demand drivers referenced in the offering, including nearby residential development activity.
For buyers or operators, the asset combines a recently built platform with a clear operational focus. The offering notes 64% physical occupancy and 50% economic occupancy, with upside tied to improved management and continued lease-up. The property’s storage mix and site size also provide flexibility to expand the tenant base and capture a stated 20% rent-to-market gap through operational enhancements and leasing execution.
The facility sits on a spacious 6.24-acre lot in Grinnell, Iowa. The site design includes direct physical expansion capabilities, with excess land available for additional storage development or outdoor parking. The property also benefits from ongoing local demand drivers referenced in the offering, including nearby residential development activity.
For buyers or operators, the asset combines a recently built platform with a clear operational focus. The offering notes 64% physical occupancy and 50% economic occupancy, with upside tied to improved management and continued lease-up. The property’s storage mix and site size also provide flexibility to expand the tenant base and capture a stated 20% rent-to-market gap through operational enhancements and leasing execution.
Key Highlights
- Built in 2022: 18,000 NRSF drive‑up self‑storage facility in Grinnell, IA
- 198 rentable units, all non‑climate‑controlled storage
- Gated, secured, and fenced facility with on‑site office and kiosk
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Self storage facilities
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Modern 2022 storage facility with gated, fenced access, office and kiosk, and 198 non-climate units for drive-up use.
Where is this self storage facility located?
The property is located at 623 Penrose Street Grinnell, IA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Built in 2022: 18,000 NRSF drive‑up self‑storage facility in Grinnell, IA; 198 rentable units, all non‑climate‑controlled storage; Gated, secured, and fenced facility with on‑site office and kiosk
