6100 Production Dr Cedar Falls, IA 50613-7418

This exceptional 21,920-square-foot self-storage facility in Cedar Falls, IA, presents a compelling investment opportunity. Built in 2021, this two-story, single-building property boasts 282 climate-controlled units and sits on a 2.7-acre lot at 6100 Production Dr, 50613. The property features state-of-the-art amenities, including 24/7 monitored security with over 50 cameras, motion, glass break, and door sensors. Tenant convenience is maximized with Doorking access controls and Sitelink management software, complemented by automated payment systems and U-Haul truck rentals generating additional income. A separate office/showroom is currently under a long-term lease. The facility also benefits from a heated drive-in building with a loading area, bright white metal interior finishes, and motion lighting throughout. Expansion potential exists for boat and RV storage, with plans already completed. The property enjoys a five-year partial property tax exemption. Located near major retailers, Highways 20 and 58, new residential developments, and just 2.2 miles from the University of Northern Iowa, this facility benefits from a strong demographic area with an average household income of $100,732 within a five-mile radius and a daytime population of 65,068. The current NOI is $249,537, with a pro-forma NOI of $263,860, resulting in a 7.03% cap rate and a pro-forma cap rate of 7.43%. Occupancy stands at 83.69% as of August 31, 2024. This is a prime opportunity to acquire a high-quality, newly constructed self-storage asset in a thriving market. The asking price is $3,550,000.