1308 Adair Ct SW - Self-Storage Facilities FOR SALE


Cedar Rapids, IA 52404
$4,250,000 USD
319-550-2125
1308 Adair Ct SW, Cedar Rapids, IA for Sale
$4,250,000 USD
Self-Storage Facilities - FOR SALE
1/55
null | 8.72% Cap Rate

1308 Adair Ct SW
Cedar Rapids, IA 52404


HIGHLIGHTS

  • fully automated

OVERVIEW

Here are a few highlights including income & occupancy: This site opened in November 1st, 2025 First Class Storage – Innovative | Automated Storage Facility for Sale Now available: First Class Storage, a modern, high-demand storage facility strategically located next to the Eastern Iowa Airport. This is a turn-key opportunity to own the entire complex, priced at $4.25 million, offering both investment potential and immediate rental income. ?? Property Overview Strong unit mix Prime location with excellent visibility and easy access to major highways Secure, well-maintained, and built for today’s storage demands ?? Unit Mix & Rental Rates 10x20: 91 units | 19 occupied | 72 vacant | $135 /month 10x30: 69 Units | 6 occupied | 62 vacant | $165 /month 14x40: 8 Units | 7 occupied | 1 vacant | $325 /month Total Occupied Units: 33 Total Units: 168 Opened: 11.1.2025 Occupancy is 130% ahead of business plan. OH Doors: Larger OH Doors for easier entry and exit. Allows for storage of larger vehicles, boats, etc. (A typical self storage facility has 8’w x 7’h OH doors.) This site: 10x20 & 10x30 units have: 9’w x 8’h OH Doors. 14x40 units have: 12’w x 14’h OH Doors. Site Information: Strategically positioned: Located next to the Eastern Iowa Airport, and designed to offer airport customers private parking suites. Fully automated: After payment is processed, the user downloads 1 app and can open the gate and their unit with their phone. Innovative bluetooth locks: These revolutionary bluetooth locks are designed to work in cold weather climates and tested with outside facing doors in the harsh Winters of Northern Canada. Large batteries ensure long life (3 year battery life if the door is opened once per day) and are more secure than traditional padlocks. No more worry of someone cutting a padlock. Bluetooth technology is used so the locks themselves cannot be hacked and are isolated so they still work if power or internet is lost to the site. City Tax Incentive Package: 10 year / 50% Cost Segregation Performed - Immediate writeoff available. Traditional Storage Customers: Gross Effective Income at stabilization: Up to $408,550.74 Expected Annual NOI: $370,527.42 Expected Annual Opex at stabilization: $38,023.32 Expected COC Return at asking price: 12.19% Appraiser Recommended: 6.25% market cap: $5,928,438.72 7.50% cap: $4,940,365.60 NOI @ 95%: $352,001.05 6.25% cap: $5,632,016.78 7.50% cap: $4,693,347.33 Airport Parking Customers: Gross Effective Income at stabilization: Up to $519,495.29 Expected Annual NOI at stabilization: $475,096.37 Expected Annual Opex: $44,398.92 Expected COC Return: 24.56% 6.25% cap: $7,601,541.89 7.50% cap: $6,334,618.24 Seller financing available: 5% down payment: $212,500 Seller carry the note @ 0% interest for up to 4 months. Close 8.1.2026 Selling price will go up as the site gets closer to stabilization.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$98 USD /SF

CAP RATE

8.72%

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

First Class Storage | Self Storage & Airport

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

Commercial

APN/PARCEL ID

192920101900000

ASK ABOUT THIS PROPERTY

Trev AdairPinnacle RealtyMore Info
319-550-2125

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Trev AdairPinnacle RealtyMore Info
319-550-2125

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.