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901 Sunshine Drive

Marshalltown, IA 50158
  • $6,000,000
  • STATUS: Active
  • ON SITE: 34 Days
  • MLS #: 656178
UPDATED: 59 min ago
$6,000,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,916
    SQFT
  • $2,058
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1992
County:
Area:

School Ratings & Info

School District:

Description

Turn key business w/ 364 units & 5 rentable office spaces. 31% rented long term(5+ years). 4+ total acres of land. 72,500+ sqft of storage units & buildings. Room to build additional units at one location. All but 16 units have security system. Sizes from 8x12 to 100x30. Several larger units rented long term by local businesses. Current rental rate is under market w/ potential for increased income. Large Shop, a few units & office space is currently not rented because they are used by current owners for their other businesses. 6.53% Projected cap rate based on increased rents. Current cap rate 4.35%. Very strong market w/ little to no vacancy. Just 35 minutes from the DSM Metro. 99% occupancy/year round/ last 4 years. All 4 locations w/in 1 mile & currently ran by 1 part time employee. This is a great opportunity to purchase a legacy asset. Portfolio includes the 4 locations of DC Storage LLC & Marshalltown Storage LLC.

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© 2022 Des Moines Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or Better Homes and Gardens Real Estate Innovations. Data last updated: 2022-08-17T15:22:24.95.
www.searchcentraliowahomes.com/homes/130863730
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901 Sunshine Drive Marshalltown, IA 50158

  • Price: $6,000,000
  • Status: Active
  • On Site: 34 Days
  • Updated: 59 min ago
  • MLS #: 656178
0
Beds
0
Baths
0
½ Baths
0.21
Acres
2,916
SQFT
$2,058
$/SQFT
1992
Built
Neighborhood:
Marshalltown
County:
Marshall
Area:
Marshalltown
School District:
Marshalltown
Property Description
Turn key business w/ 364 units & 5 rentable office spaces. 31% rented long term(5+ years). 4+ total acres of land. 72,500+ sqft of storage units & buildings. Room to build additional units at one location. All but 16 units have security system. Sizes from 8x12 to 100x30. Several larger units rented long term by local businesses. Current rental rate is under market w/ potential for increased income. Large Shop, a few units & office space is currently not rented because they are used by current owners for their other businesses. 6.53% Projected cap rate based on increased rents. Current cap rate 4.35%. Very strong market w/ little to no vacancy. Just 35 minutes from the DSM Metro. 99% occupancy/year round/ last 4 years. All 4 locations w/in 1 mile & currently ran by 1 part time employee. This is a great opportunity to purchase a legacy asset. Portfolio includes the 4 locations of DC Storage LLC & Marshalltown Storage LLC.
Exterior Features

Construction Materials Metal Siding Road Surface Type Concrete Roof Metal

Property Features

Lease Considered YN No Listing Terms CashConventional Tax Annual Amount 1592 Zoning Com

Listing provided courtesy of Re/Max Concepts. © 2022 Des Moines Multiple Listing Service.
© 2022 Des Moines Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or Better Homes and Gardens Real Estate Innovations. Data last updated: 2022-08-17T15:22:24.95.
 
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