Self Storage and Office
For Sale
Contact for pricing
25 S 15th St, Council Bluffs, IA 51501
Self-storage facility and multi-tenant office building in Council Bluffs.
Property Size12,544 SF
Lot Size2.28 Acres
Price / SF$155.45
Days on Market673
Property Features for 25 S 15th St
General Information
Standard status
Active
Size
12,544 SF
Lot size
2.28 Acres
Property subtype
Self Storage
Building Details
Year Built
1923
Units
296
Tenancy
Multi
Listing Agency:
Sage Capital Real Estate Investments
Listed By:
Colm Breathnach · License #NE 20160655
Source:
Crexi
Added: Oct 9, 2024
Changed: Aug 11
Last Checked: Aug 11 at 10:47AM
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 Sage Capital Real Estate Investments
Investment Insights
Based on property information with market context.
This property features a 296-unit self-storage facility on a 2.28-acre lot, along with a 12,544-square-foot multi-tenant office building. The property is located in Council Bluffs, Iowa, just south of West Broadway.
Key Highlights
- Significant Price Reduction: Reduced from $2,450,000 to $1,950,000.
- Large Self‑Storage Facility with 296 units.
- Sizeable 2.28 acre lot.
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
$106,634
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
5.47%
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%
$2,132,680
$2.1M
Cap Rate 7%
$1,523,343
$1.5M
Cap Rate 9%
$1,184,822
$1.2M
Market Conditions
NOI Build-Up for 12,544 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
$165.6K $13.20/SF
− Vacancy
−$13.2K −$1.06/SF
EGI
$152.3K $12.14/SF
− OpEx
−$45.7K −$3.64/SF
NOI
$106.6K $8.50/SF
Area
Pottawattamie County, IA
Vacancy
8.00%
Lease Rate
$13.20 /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%
$2,132,680
Cap Rate 7%
$1,523,343
Cap Rate 9%
$1,184,822
Alternative Uses
Best Use
Self Storage
$1.52M
$1.33M – $1.78M
NOI $106,634 @ 7.0% cap · market cap 5.47%
Second Best
Industrial
$811.9K
$710.5K – $947.3K
NOI $56,836 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$2.40M
$2.10M – $2.79M
NOI $167,695 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Explore this area
Business Placement
Demographics for 51501, IA
34,906
Population
15,217
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
86%
High-School Grad
23.9 sq mi
ZIP Area
1,461
Density / Sq Mi
$59,314
Median Household Income
$40,229
Median Earnings
$997
Median Rent
$140,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage facility and multi-tenant office building in Council Bluffs.
Where is this self storage facility located?
The property is located at 25 S 15th St Council Bluffs, IA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Significant Price Reduction: Reduced from $2,450,000 to $1,950,000.; Large Self‑Storage Facility with 296 units.; Sizeable 2.28 acre lot.
