Value-Add Self-Storage Opportunity – Cedar Rapids, IA
1005 3rd Ave SW, Cedar Rapids, IA 52404
Sold
NRSF
42,013
New Construction
Cedar Rapids, IA
Clear value-add opportunity through continued lease up and ECRIs to bring in-place rents to market levels
Facility includes 42,013 NRSF, with potential expansion via layout optimization
Located in a submarket with no new supply planned and strong rental comps
With easy access to 1-380 and downtown corridor, the dense Cedar Rapids location has over 71,710 residents within 3 miles
Median household income of $60,019 within three-mile radius supports demand for stabilized storage rates
The facility utilizes Noke Bluetooth smart locks on all units, providing fully keyless, state-of-the-art tenant access
The property is secured by Verkada Al-enabled camera systems, including facial recognition and license plate capture, delivering industry-leading security, accessible anywhere in the world
The facility was awarded Facility of the Year - Construction Category Winner in 2022, a testament to the quality of the build and design
The Cushman & Wakefield Self Storage Advisory Group has successfully sold a self-storage facility located in Cedar Rapids, Iowa.
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