1005 43rd St SE - B
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1005 43rd St SE - B
13,450 SF Specialty Building Offered at $925,000 at a 7.24% Cap Rate in Cedar Rapids, IA 52403
EXECUTIVE SUMMARY
This 77-unit site features drive up non-climate-controlled
storage and another 10 exterior parking spaces that
accumulate revenue as well. This deal offers a great
component of value add as current rental rates ($0.52 per
foot per month) are sitting far below the $0.95 per foot per
month for the Cedar Rapids and Iowa City Markets. Through
our analysis we find that a management crew can fully
maximize this properties potential. The property is located
on the east side of cedar rapids near strong and densely
populated neighborhoods. One of the reasons this facility
has been able to maintain 100% occupancy.
storage and another 10 exterior parking spaces that
accumulate revenue as well. This deal offers a great
component of value add as current rental rates ($0.52 per
foot per month) are sitting far below the $0.95 per foot per
month for the Cedar Rapids and Iowa City Markets. Through
our analysis we find that a management crew can fully
maximize this properties potential. The property is located
on the east side of cedar rapids near strong and densely
populated neighborhoods. One of the reasons this facility
has been able to maintain 100% occupancy.
DATA ROOM Click Here to Access
PROPERTY FACTS Under Contract
| Price | $925,000 | Building Class | C |
| Price Per SF | $69 | Lot Size | 1.36 AC |
| Sale Type | Investment | Building Size | 13,450 SF |
| Cap Rate | 7.24% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2005 |
| Property Subtype | Self-Storage | Parking Ratio | 0.74/1,000 SF |
| Price | $925,000 |
| Price Per SF | $69 |
| Sale Type | Investment |
| Cap Rate | 7.24% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 1.36 AC |
| Building Size | 13,450 SF |
| No. Stories | 1 |
| Year Built | 2005 |
| Parking Ratio | 0.74/1,000 SF |
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PROPERTY TAXES
| Parcel Number | 14251-03009-00000 | Improvements Assessment | $316,600 |
| Land Assessment | $51,600 | Total Assessment | $368,200 |
PROPERTY TAXES
Parcel Number
14251-03009-00000
Land Assessment
$51,600
Improvements Assessment
$316,600
Total Assessment
$368,200
ZONING
| Zoning Code | C-1 (General Commercial) |
| C-1 (General Commercial) |
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1005 43rd St SE - B
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