Drive-Up Self Storage
For Sale
Contact for pricing
623 Penrose Street, Grinnell, IA 50112
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$54.17
Days on Market97
Property Features for 623 Penrose Street
General Information
Standard status
Active
Size
18,000 SF
Lot size
6.24 Acres
Property subtype
Self Storage
Occupancy
64%
Additional Details
Fenced Yard
Yes
Building Details
Year Built
2022
Listing Agency:
Lindsey Self Storage
Listed By:
Nick Anderson · License #40831144
(612) 759-0982
Source:
Crexi
Added: Jun 1
Changed: Aug 24
Last Checked: Sep 5 at 12:42PM
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
Current Use
Lease Details
64%
Occupancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
Explore this area
Business Placement
Demographics for 50112, IA
11,849
Population
5,018
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
96%
High-School Grad
182.2 sq mi
ZIP Area
65
Density / Sq Mi
$64,707
Median Household Income
$34,301
Median Earnings
$863
Median Rent
$198,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
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 $975,000.
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
