Building Details

Building Size 59,300 SF

Year Built 2018

Listing Agency: NAI Iowa Realty Commercial m***@iowarealtycommercial.com Show Phone

Listed By: Chris Fultz · License #B56244000 Show Phone

Source: Thebrokerlist

Added: Apr 1 Changed: Aug 25 Last Checked: Aug 25 at 4:45AM

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Investment Insights

Based on property information with market context.

This self-storage facility, constructed between 2018 and 2023, comprises 394 units offering a mix of climate-controlled and traditional drive-up storage options. The property is a turnkey investment opportunity equipped with modern security features. It benefits from a professional online management system. The site features paved and well-maintained drive aisles. Security measures include gated entry and 24-hour video recording. Access to the facility is available 24/7. The facility is positioned to serve the storage needs of nearby residential areas and local small businesses.

Key Highlights

• 394 storage units offering a mix of climate‑controlled and traditional drive‑up options.
• Built between 2018 and 2023, modern construction.
• Turnkey investment opportunity with professional online management system.

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

$468,233

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

8.92%

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%

$9,364,660 $9.4M

Cap Rate 7%

$6,689,043 $6.7M

Cap Rate 9%

$5,202,589 $5.2M

Market Conditions

NOI Build-Up for 59,300 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

$711.6K $12.00/SF

− Vacancy

−$42.7K −$0.72/SF

EGI

$668.9K $11.28/SF

− OpEx

−$200.7K −$3.38/SF

NOI

$468.2K $7.90/SF

Area

Webster County, IA

Vacancy

6.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

30.00%

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%

$9,364,660

Cap Rate 7%

$6,689,043

Cap Rate 9%

$5,202,589

Alternative Uses

Best Use

Self Storage

$6.69M

$5.85M – $7.80M (±1% cap)

NOI $468,233 @ 7.0% cap · market cap 8.92%

Second Best

Industrial

$3.99M

$3.49M – $4.66M (±1% cap)

NOI $279,545 @ 7.0% cap · market cap 5.32%

Theoretical Best

Office A

$10.69M

$9.35M – $12.47M (±1% cap)

NOI $748,034 @ 7.0% cap · market cap 14.25%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Self storage facilities

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 50501, IA

28,492

Population

13,198

Households

2.2

Avg Household Size

39

Median Age

20%

College-Educated

92%

High-School Grad

152.2 sq mi

ZIP Area

187

Density / Sq Mi

$66,130

Median Household Income

$36,934

Median Earnings

$779

Median Rent

$139,700

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Self storage facility - Turnkey storage facility with climate-controlled and drive-up units.

Where is this self storage facility located?

The property is located at 730 South 29th Street Fort Palm Grove, IA.

What is the asking price?

The asking price for this property is $5,250,000.

What are key features of this property?

This property features: 394 storage units offering a mix of climate‑controlled and traditional drive‑up options.; Built between 2018 and 2023, modern construction.; Turnkey investment opportunity with professional online management system.