Enclosed Storage Unit with Overhead
For Sale
$70,000
E-2-12771 N 825 E Road, Syracuse, IN 46567
24-by-40 storage unit with a 14-foot overhead door, 100-amp service, and fenced access with an electric gate opener.
Property Size960 SF
Price / SF$72.92
Days on Market71
Property Features for E-2-12771 N 825 E Road
General Information
Standard status
Active
Size
960 SF
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
1
Heavy Power
Yes
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$510
Listing Agency:
Keller Williams Realty Group
(574) 528-0537
Listed By:
Rex Heil · License #RB14040080
(574) 528-0537
Source:
Exprealty
Added: Jun 20
Changed: Aug 20
Last Checked: Aug 28 at 12:25PM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
This enclosed self-storage unit offers a 24-by-40 layout totaling 960 square feet. Features include a 14-foot height overhead door, a 36-inch passage door, and a garage door opener. Interior lighting is provided by overhead lights, and the unit has 100 amp service. Inside walls are wrapped with OSB board, and all outside walls are insulated.
The property is part of a secured storage area with a security fence and an electric gate opener. It is located at E-2-12771 N 825 E Road in Syracuse, IN 46567.
The unit is set up for drive-up storage use, with both vehicle access through the overhead door and pedestrian access via the 36-inch passage door.
The property is part of a secured storage area with a security fence and an electric gate opener. It is located at E-2-12771 N 825 E Road in Syracuse, IN 46567.
The unit is set up for drive-up storage use, with both vehicle access through the overhead door and pedestrian access via the 36-inch passage door.
Key Highlights
- 24‑by‑40 storage unit with 960 SF
- 14‑foot overhead door for drive‑in access
- 100‑amp service
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
$5,935
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
8.48%
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%
$118,700
$118.7K
Cap Rate 7%
$84,786
$84.8K
Cap Rate 9%
$65,944
$65.9K
Market Conditions
NOI Build-Up for 960 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
$9.2K $9.60/SF
− Vacancy
−$737 −$0.77/SF
EGI
$8.5K $8.83/SF
− OpEx
−$2.5K −$2.65/SF
NOI
$5.9K $6.18/SF
Area
Kosciusko County, IN
Vacancy
8.00%
Lease Rate
$9.60 /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%
$118,700
Cap Rate 7%
$84,786
Cap Rate 9%
$65,944
Alternative Uses
Best Use
Self Storage
$84.8K
$74.2K – $98.9K
NOI $5,935 @ 7.0% cap · market cap 8.48%
Second Best
Warehouse
$65.7K
$57.5K – $76.7K
NOI $4,602 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$167.2K
$146.3K – $195.1K
NOI $11,707 @ 7.0% cap · market cap 16.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 46567, IN
9,773
Population
5,849
Households
1.7
Avg Household Size
44
Median Age
25%
College-Educated
90%
High-School Grad
57.3 sq mi
ZIP Area
171
Density / Sq Mi
$73,277
Median Household Income
$46,327
Median Earnings
$964
Median Rent
$228,200
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 - 24-by-40 storage unit with a 14-foot overhead door, 100-amp service, and fenced access with an electric gate opener.
Where is this self storage facility located?
The property is located at E-2-12771 N 825 E Road Syracuse, IN.
What is the asking price?
The asking price for this property is $70,000.
What are key features of this property?
This property features: 24‑by‑40 storage unit with 960 SF; 14‑foot overhead door for drive‑in access; 100‑amp service
