Climate-Controlled Storage
For Sale
$275,000
807 12th Street, Belle Plaine, IA 52208
Commercial, Belle Plaine, IA
Property Size3,260 SF
Price / SF$84.36
Days on Market123
Property Features for 807 12th Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Comm
Rooms
Basement
Directions
On 12th St, Belle Plaine
Subdivision
OT-W (West of I-380)
Standard status
Active
APN
03035050
Size
3,260 SF
Taxes and HOA fees
Tax Description
As per abstract
Tax Annual Amount
472
Legal Description
As per abstract
Amenities
climate control storage
Building Details
Year built
1900
Roof type
Membrane
Listing Agency:
Realty87 · Coldwell Banker Real Estate
(319) 378-8760
Listed By:
Tami Timm
(319) 367-8760
Added: Apr 23
Changed: Aug 19
Last Checked: Aug 23 at 9:06PM
MLS# 2602867
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.
This self storage facility features climate-controlled storage in the lower level, with 9 units made available that are new in 2024. The property has been updated with new plumbing and electrical, along with spray foam insulation, and is described as totally updated. The basement is identified as the storage level, and the roof is listed as membrane.
The building also includes a main level and an upper level. The upper level is framed and ready for completion as a 1-bedroom apartment, creating a potential live-and-operate configuration within the same structure. The property is zoned Comm and is located at 807 12th Street in Belle Plaine, Iowa (Benton County).
Built in 1900 and totaling 3,260 SF, this property is structured as a multi-income opportunity with a turnkey climate-controlled storage component plus an unfinished apartment space ready for build-out.
The building also includes a main level and an upper level. The upper level is framed and ready for completion as a 1-bedroom apartment, creating a potential live-and-operate configuration within the same structure. The property is zoned Comm and is located at 807 12th Street in Belle Plaine, Iowa (Benton County).
Built in 1900 and totaling 3,260 SF, this property is structured as a multi-income opportunity with a turnkey climate-controlled storage component plus an unfinished apartment space ready for build-out.
Key Highlights
- Climate‑controlled storage in the lower level
- 9 storage units available, new in 2024
- Updated with new plumbing, electrical, and spray foam
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
$20,756
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
7.55%
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%
$415,120
$415.1K
Cap Rate 7%
$296,514
$296.5K
Cap Rate 9%
$230,622
$230.6K
Market Conditions
NOI Build-Up for 3,260 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
$25.4K $7.80/SF
− Vacancy
−$1.0K −$0.31/SF
EGI
$24.4K $7.49/SF
− OpEx
−$3.7K −$1.12/SF
NOI
$20.8K $6.37/SF
Area
Benton County, IA
Vacancy
3.97%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$415,120
Cap Rate 7%
$296,514
Cap Rate 9%
$230,622
Alternative Uses
Best Use
Retail
$440.4K
$385.3K – $513.8K
NOI $30,826 @ 7.0% cap · market cap 11.21%
Second Best
Self Storage
$395.9K
$346.4K – $461.9K
NOI $27,713 @ 7.0% cap · market cap 10.08%
Theoretical Best
Specialty Retail
$471.8K
$412.9K – $550.5K
NOI $33,028 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Explore this area
Business Placement
Demographics for 52208, IA
2,951
Population
1,451
Households
2
Avg Household Size
45
Median Age
17%
College-Educated
95%
High-School Grad
60.7 sq mi
ZIP Area
49
Density / Sq Mi
$71,336
Median Household Income
$45,202
Median Earnings
$773
Median Rent
$119,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Lower-level climate-controlled storage offers 9 units added in 2024 and updated mechanical and building systems.
Where is this self storage facility located?
The property is located at 807 12th Street Belle Plaine, IA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Climate‑controlled storage in the lower level; 9 storage units available, new in 2024; Updated with new plumbing, electrical, and spray foam
