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Self-Storage Facility

Prairie Life Storage

6100 Production Dr, Cedar Falls, IA 50613

Listing Price: $3,700,000

Cap Rate
6.49%
Number of Units
282
Occupancy
76.1%
Rentable SF
21,920
Price/Rentable SF
$168.80
Year Built
2021

Investment Overview

The Delaney Self-Storage Group of Marcus & Millichap is pleased to present Prairie Life Storage in Cedar Falls, Iowa. This newly built, 100% climate-controlled facility opened in late-2021 and offers 21,920 rentable square feet across 282 units. Situated on 2.7 acres, Prairie Life Storage features state-of-the-art amenities and has seen a strong lease up trend since opening.

The entire facility has motion lighting throughout and a heated drive-in building with loading area. All interior walls and ceilings are finished in bright white metal. Security features include 24/7 monitored security surveillance with over 50 cameras and motion, glass break and door sensors. Additionally, the site offers fully automated payment and accessibility systems for tenants with Doorking® access controls, Sitelink management software and generates additional income from U-Haul truck rentals. The facility also includes a separate office/ showroom, which is currently on a long-term lease. There is expansion potential for boat and RV storage on the southern portion of the property with Mako plans already completed. The property was granted a five-year partial exemption from property taxation.

Prairie Life Storage is the nicest and newest fully climate-controlled facility in the area. The site is located near major retailers, Highways 20 and 58, several new residential community developments and is only 2.2 miles from the University of Northern Iowa. The average household income in the five-mile radius is $100,732 with a daytime population of 65,068. Prairie Life Storage offers investors a new, quality constructed climate-controlled self-storage asset located in a strong demographic area with little surrounding competition.

Investment Highlights

  • 100% Climate-Controlled Facility | Completed Late-2021
  • Strong Lease Up Trend Since Opening
  • 282 Total Units | 21,920 Rentable Square Feet Separate Office/Showroom on Long-Term Lease
  • State-of-the-Art Amenities & Security Features Fully Automated Access for Tenants | Doorking Controls
  • Additional U-Haul Truck Rental Income
  • Boat & RV Storage Expansion Potential | Mako Plans

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Financing By

Self-Storage Facility

Prairie Life Storage

Listing Price: $3,700,000

Cap Rate
6.49%
Number of Units
282
Occupancy
76.1%
Rentable SF
21,920
Price/Rentable SF
$168.80
Year Built
2021

Investment Highlights

  • 100% Climate-Controlled Facility | Completed Late-2021
  • Strong Lease Up Trend Since Opening
  • 282 Total Units | 21,920 Rentable Square Feet Separate Office/Showroom on Long-Term Lease
  • State-of-the-Art Amenities & Security Features Fully Automated Access for Tenants | Doorking Controls
  • Additional U-Haul Truck Rental Income
  • Boat & RV Storage Expansion Potential | Mako Plans

Investment Overview

The Delaney Self-Storage Group of Marcus & Millichap is pleased to present Prairie Life Storage in Cedar Falls, Iowa. This newly built, 100% climate-controlled facility opened in late-2021 and offers 21,920 rentable square feet across 282 units. Situated on 2.7 acres, Prairie Life Storage features state-of-the-art amenities and has seen a strong lease up trend since opening. The entire facility has motion lighting throughout and a heated drive-in building with loading area. All interior walls and ceilings are finished in bright white metal. Security features include 24/7 monitored security surveillance with over 50 cameras and motion, glass break and door sensors. Additionally, the site offers fully automated payment and accessibility systems for tenants with Doorking® access controls, Sitelink management software and generates additional income from U-Haul truck rentals. The facility also includes a separate office/ showroom, which is currently on a long-term lease. There is expansion potential for boat and RV storage on the southern portion of the property with Mako plans already completed. The property was granted a five-year partial exemption from property taxation. Prairie Life Storage is the nicest and newest fully climate-controlled facility in the area. The site is located near major retailers, Highways 20 and 58, several new residential community developments and is only 2.2 miles from the University of Northern Iowa. The average household income in the five-mile radius is $100,732 with a daytime population of 65,068. Prairie Life Storage offers investors a new, quality constructed climate-controlled self-storage asset located in a strong demographic area with little surrounding competition.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

Financing By

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