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.
