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Self-Storage Facility

Hiawatha Storage Solutions

727 Iowa St, Hiawatha, KS 66434

Listing Price: $795,000

Cap Rate
2.40%
Number of Units
125
Occupancy
62.0%
Rentable SF
17,640
Price/Rentable SF
$45.07
Year Built
2021

Investment Overview

Marcus & Millichap is honored to present for sale Hiawatha Storage Solutions, located at 727 Iowa Street, Hiawatha, Kansas. This newly constructed facility is comprised of 124 non-climate-controlled units, and rentable office space of 900 square feet; for a total of 125 units across 17,640 rentable square feet. Built in 2021, Hiawatha Storage Solutions sits on approximately 1.2 acres. As of August 2022, the facility is 62 percent physically occupied. Positioned on the west side of town, Hiawatha Storage Solutions backs up to the railroad. Average household income is $59,819 within a three-mile radius and $60,132 in a five-mile radius. Hiawatha, Kansas is conveniently positioned off US Highway 36 and is located approximately 90 miles northwest of Kansas City, and approximately 40 miles northwest of Saint Joseph, Missouri. With a population of approximately 3,762, Hiawatha is the largest city in Brown County and is the county seat. Hiawatha has enjoyed an 18 percent growth in population since 2010. Hiawatha Storage Solutions offers an investor the opportunity to acquire a newly constructed cash flowing asset presenting both physical and economic value-add opportunities. There are many value-add components an investor can bring to this asset including greater automation through management, providing perimeter fencing and surveillance, and offering ancillary profit centers such as tenant insurance.

Investment Highlights

  • New Construction – Opened August 2021
  • 62 Percent Physically Occupied – August 2022
  • 17,640 Total Rentable Square Feet | 125 Units
  • Year 2 Cap Rate 7.04 Percent
  • Year 2 Cash-on-Cash Return 4.62 Percent

Exclusively Listed By

Financing By

Self-Storage Facility

Hiawatha Storage Solutions

Listing Price: $795,000

Cap Rate
2.40%
Number of Units
125
Occupancy
62.0%
Rentable SF
17,640
Price/Rentable SF
$45.07
Year Built
2021

Investment Highlights

  • New Construction – Opened August 2021
  • 62 Percent Physically Occupied – August 2022
  • 17,640 Total Rentable Square Feet | 125 Units
  • Year 2 Cap Rate 7.04 Percent
  • Year 2 Cash-on-Cash Return 4.62 Percent

Investment Overview

Marcus & Millichap is honored to present for sale Hiawatha Storage Solutions, located at 727 Iowa Street, Hiawatha, Kansas. This newly constructed facility is comprised of 124 non-climate-controlled units, and rentable office space of 900 square feet; for a total of 125 units across 17,640 rentable square feet. Built in 2021, Hiawatha Storage Solutions sits on approximately 1.2 acres. As of August 2022, the facility is 62 percent physically occupied. Positioned on the west side of town, Hiawatha Storage Solutions backs up to the railroad. Average household income is $59,819 within a three-mile radius and $60,132 in a five-mile radius. Hiawatha, Kansas is conveniently positioned off US Highway 36 and is located approximately 90 miles northwest of Kansas City, and approximately 40 miles northwest of Saint Joseph, Missouri. With a population of approximately 3,762, Hiawatha is the largest city in Brown County and is the county seat. Hiawatha has enjoyed an 18 percent growth in population since 2010. Hiawatha Storage Solutions offers an investor the opportunity to acquire a newly constructed cash flowing asset presenting both physical and economic value-add opportunities. There are many value-add components an investor can bring to this asset including greater automation through management, providing perimeter fencing and surveillance, and offering ancillary profit centers such as tenant insurance.

Exclusively Listed By

Financing By

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