3556 Marnie Avenue, Waterloo, IA 50701
MLS Number: 2500689 |
Subtype: Commercial | Area: OT-E (East of I-380)
$
4,450,000
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 100,880 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 (owner-occupied, but leasable), and 70,800 SF of outdoor parking with 177 spaces (10x40). Total unit count: 335 + office/shop.
Property is averaging 4 new leases per week with projected stabilization by September 2025. 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. Bi-annual tax reimbursements managed 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
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County: Blackhawk
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Lot Size: 5.19 Acre
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Acres: 5.1900
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Year Built: 2023
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Zoning: Comm
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Gross tax: $5,374.00
Building
Total Building SF: 30,080
Ceiling Height: 7ft-10ft
Utilities
Utilities: Electricity Available
Heating/Cooling: Central Heat, Central Air
Water Source: City Water
Sewer: City Sewer
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