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3055 3rd St S 7,021 SF Specialty Building Offered at $496,020 CAD at a 9% Cap Rate in Waite Park, MN 56301
Executive Summary
Ace Storage is a 32-unit self-storage facility located at 3055 3rd St S in Waite Park, Minnesota, serving the greater St. Cloud market. The facility includes a perimeter fence, electronic gate system, and upgraded control box. The property offers a compelling value-add investment: current rents on larger units (10x20, 10x25, 10x30) are $28-45 per unit below market, creating an immediate path to increased NOI through rent adjustments alone. Combined with lease-up potential and a pending property tax reduction, a self-managing buyer can realistically increase NOI from ~$17,500 (current) to $29,000-$31,700 within 6-12 months of acquisition. The facility operates on a simple, low-overhead model with credit card payment processing and a dedicated website (acestoragewaitepark.com).
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $496,020 CAD | Building Class | C |
| Price Per SF | $70.65 CAD | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 7,021 SF |
| Cap Rate | 9% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2002 |
| Property Subtype | Self-Storage |
| Price | $496,020 CAD |
| Price Per SF | $70.65 CAD |
| Sale Type | Investment |
| Cap Rate | 9% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 7,021 SF |
| No. Stories | 1 |
| Year Built | 2002 |
Amenities
- Signage
1 1
Somewhat walkable
20/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 98.60824.0114 | Improvements Assessment | $292,227 CAD |
| Land Assessment | $143,988 CAD | Total Assessment | $436,214 CAD |
Property Taxes
Parcel Number
98.60824.0114
Land Assessment
$143,988 CAD
Improvements Assessment
$292,227 CAD
Total Assessment
$436,214 CAD
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3055 3rd St S
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