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Space Rental 3 Specialty Properties Offered at $3,456,250 CAD in Newton, IA
INVESTMENT HIGHLIGHTS
- Strong In-Place Performance: Portfolio is currently 90% occupied, providing immediate income stability and proven tenant demand.
- Operational Upside: Opportunity to enhance performance through professional mgmt, modern software, and digital marketing
- Offered Below Replacement Cost: Priced attractively at approximately $35 per rentable square foot
- Prime Location: Conveniently positioned along the Interstate 80 corridor
- Additional Income Streams: Portfolio includes two Newton, IA locations with additional income generated from outdoor pkg, on-site house, & billboard
EXECUTIVE SUMMARY
Space Rental, a stabilized self storage portfolio in Newton, Iowa, presents an attractive investment opportunity in a high-occupancy market. The properties span two locations, encompassing a total of 7.93 acres across Jasper County. The facilities feature 320 total units and approximately 71,188 rentable square feet, with a consistent 90% occupancy rate. Offered below replacement cost, the portfolio is priced attractively at approximately $35 per rentable square foot, providing significant value compared to new construction costs in today’s market. The facilities are complemented by outdoor parking options, catering to a mix of tenant needs.
With two strategic locations in Newton, Iowa, the facilities benefit from a stable and growing local economy supported by manufacturing, logistics, and regional commerce. Newton serves as a key community along the Interstate 80 corridor, offering convenient access to the Des Moines metropolitan area while maintaining affordable operating costs and steady tenant demand. The city’s balanced mix of residential neighborhoods and small businesses provides a reliable storage customer base, ensuring consistent occupancy and long-term income stability for investors seeking an established presence in central Iowa.
With two strategic locations in Newton, Iowa, the facilities benefit from a stable and growing local economy supported by manufacturing, logistics, and regional commerce. Newton serves as a key community along the Interstate 80 corridor, offering convenient access to the Des Moines metropolitan area while maintaining affordable operating costs and steady tenant demand. The city’s balanced mix of residential neighborhoods and small businesses provides a reliable storage customer base, ensuring consistent occupancy and long-term income stability for investors seeking an established presence in central Iowa.
PROPERTY FACTS
| Price | $3,456,250 CAD | Status | Active |
| Price / SF | $60.23 CAD / SF | Number of Properties | 3 |
| Cap Rate | 7.75% | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 57,388 SF |
| Price | $3,456,250 CAD |
| Price / SF | $60.23 CAD / SF |
| Cap Rate | 7.75% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 57,388 SF |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 1209 E 8th St N, Newton, IA 50208 | Specialty | 28,560 SF | 1963 | - |
|
Space Rental
1715 1st W Ave, Newton, IA 50208 |
Specialty | 19,628 SF | 1975 | - |
| 1115 E 8th St N, Newton, IA 50208 | Specialty | 9,200 SF | 1963 | - |
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