730 29Th St Fort Dodge, IA 50501
- Self storage facilities
- 5.47 lot acres
Current Use by Public Records
- All Purpose Storage / Moving Supply Store / Records Storage Facility
Property Details for 730 29Th St
- Year built
- 2018
- Lot size
- 5.47 lot acres
- Property type
- Self storage facilities
Description
This exceptional self-storage facility in Fort Dodge, Iowa presents a compelling value-add investment opportunity. The property, built between 2018 and 2023, comprises nine single-story buildings totaling 57,300 net rentable square feet across 399 units. The facility boasts a mix of climate-controlled (5,650 NRSF) and drive-up non-climate-controlled (49,500 NRSF) units, along with 2,150 NRSF of interior non-climate units. Currently undergoing lease-up following a recent expansion, this property offers significant potential for revenue growth through stabilization and market rent adjustments. Situated on a 5.47-acre lot at 730 S 29th St, Fort Dodge, IA 50501 (APN 728126031.00), it benefits from a strong demographic profile, with 27,958 residents and an average household income of $61,151 within a five-mile radius. The property's below-average saturation rate of 6.5 SF/capita within three miles further underscores its market dominance. The current NOI is $194,046, with a pro-forma NOI projected at $430,435, resulting in a pro-forma cap rate of 7.55%. The asking price is $5,700,000, representing a price per unit of $14,285.71. This premier storage facility in Fort Dodge, strategically located approximately 65 miles northwest of Des Moines, is poised for continued success and significant returns for the next owner.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Dodge
- County
- Webster
- State
- Iowa
- Longitude
- -94.1585
- Latitude
- 42.4981
