300 E Iowa Ave - Turn Key Storage
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300 E Iowa Ave - Turn Key Storage
14,800 SF Specialty Building Offered at $649,000 at a 7.13% Cap Rate in Onawa, IA 51040
Executive Summary
PROPERTY SPECIFICATIONS
o Turn Key Storage
o 300 East Iowa Avenue, Onawa, IA 51040
o Mini-storage facility
o Class B (2004/2015/2019)/?????
o Unit mix: (5) 10x40 Roll Up, (62) 10x20 RU,
(20) 10x10 RU + (11) outdoor stalls
o Rentable building area (RBA): 16,400 SF
o New driveway
o Space for further development/gross potential
RBA: 26,800 SF
FINANCIAL METRICS
o Capitalization rate: 7.13%
o Gross rent multiplier: 11.83
o Income/expense ratio: 37.85%
o Return-on-equity: 8.89%
o Near-term monthly gross revenue: $6,397
o Turn Key Storage
o 300 East Iowa Avenue, Onawa, IA 51040
o Mini-storage facility
o Class B (2004/2015/2019)/?????
o Unit mix: (5) 10x40 Roll Up, (62) 10x20 RU,
(20) 10x10 RU + (11) outdoor stalls
o Rentable building area (RBA): 16,400 SF
o New driveway
o Space for further development/gross potential
RBA: 26,800 SF
FINANCIAL METRICS
o Capitalization rate: 7.13%
o Gross rent multiplier: 11.83
o Income/expense ratio: 37.85%
o Return-on-equity: 8.89%
o Near-term monthly gross revenue: $6,397
Property Facts Under Contract
| Price | $649,000 | Building Class | C |
| Price Per SF | $44 | Lot Size | 2.00 AC |
| Sale Type | Investment | Building Size | 14,800 SF |
| Cap Rate | 7.13% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2004 |
| Property Subtype | Self-Storage |
| Price | $649,000 |
| Price Per SF | $44 |
| Sale Type | Investment |
| Cap Rate | 7.13% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 2.00 AC |
| Building Size | 14,800 SF |
| No. Stories | 1 |
| Year Built | 2004 |
PROPERTY TAXES
| Parcel Number | 67-8345-04-4-00-008 | Improvements Assessment | $310,111 |
| Land Assessment | $45,750 | Total Assessment | $355,861 |
PROPERTY TAXES
Parcel Number
67-8345-04-4-00-008
Land Assessment
$45,750
Improvements Assessment
$310,111
Total Assessment
$355,861
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300 E Iowa Ave - Turn Key Storage
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