Description
Beautiful self-storage complex located at the high-traffic intersection of Hwy 20 & Hwy 63 in Waterloo, IA. Phase 1 opened in October 2023 and offers a total of 78,760 SF of leasable space across 5.19 acres. The site includes 28,800 SF of indoor storage with 157 drive-up units (10x15, 10x20, 10x30), a 1,280 SF climate-controlled office/shop (leased at $1,325 / mo.), and 48,680 SF of outdoor parking with 122 spaces (10x40). Total unit count: 280. Occupancy: 79.62% indoor 52.46% outdoor NOI: $250,206.56 Security features include perimeter fencing, an automated gate, and high-definition security cameras. The site also benefits from a 15-year TIF package (90% for the first 10 years, then 60% thereafter). Financials and pro forma updated monthly by CPA. Seller financing available. Owners open to staying on for operations post-sale at below-market management rates. Excellent opportunity for investors or owner-users.
Property Highlights
Property Type: Commercial - Business
Year Built: 2023
Lot Size: 5.19 acres
General Information
County: Black Hawk
Listed By:
Pinnacle Realty LLC
319-393-0900
Trev Adair
Cedar Rapids MLS
MLS ID: 2500689
Shown By
Agent Name: Jamie Wiley
Agent Phone: (224) 383-8365
Agency Title: Ruhl&Ruhl Realtors
Agent Email:
Get in Touch
Shown By
Agent Name: Jamie Wiley
Agent Phone: (224) 383-8365
Agency Title: Ruhl&Ruhl Realtors
Agent Email:
Contact an agent to learn more about
3556 Marnie Avenue, Waterloo, IA 50701.
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563-441-1862
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| Loan Type | FHA 30 Year Fixed | 30 yr Jumbo |
| Purchase Price | $4,225,000 | $4,225,000 |
| Down Payment | $147,875 | $845,000 |
| Monthly Mortgage Amount | $25,207 | $20,537 |
| Taxes | $5880 | $5880 |
| Insurance | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 |
| Monthly Mortage Insurance | $2,534 | $0 |
| Monthly Estimated Total | $34,853 | $27,649 |