6100 Production Dr Cedar Falls, IA 50613-7418
- Commercial real estate
- 15,096 SF
- 2.70 lot acres
Current Use by Public Records
- Prairie Life Storage / Storage Facility
- U-Haul Neighborhood Dealer / Car Rental Facility
- Schuerman Builders / Construction Company / General Contractor
Property Details for 6100 Production Dr
- Year built
- 2020
- Construction
- FRAME
- Lot size
- 2.70 lot acres
- Property size
- 15,096 SF
- Property type
- Commercial real estate
- APN
- 8914-34-226-007
- APU
- 891434226007
Description
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.
Value Estimations
-
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,260,000 Current use
- WAREHOUSE, STORAGE
- $1,560,000 Change: +24% Conversion: Difficult
- RESTAURANT
- $1,290,000 Change: +2% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $1,235,000 Change: -2% Conversion: Difficult
- OFFICE BUILDING
- $1,190,000 Change: -5% Conversion: Easy
- MEDICAL BUILDING
- $1,010,000 Change: -20% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Cedar Falls
- County
- Black Hawk
- State
- Iowa
- Longitude
- -92.4777
- Latitude
- 42.4827
- CBSA code
- 47940
- CBSA name
- WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA
