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3055 3rd Street South
Waite Park, MN 56387
Asking Price
$350K
Cap Rate
4.99%
Asset Type
Self-storage
Class
Class B
What's Special
32-Unit Self-Storage Facility | Below-Market Rents with Immediate Upside <ul><li>32 units on 0.46 acres, built 2002</li><li>6,900 rentable SF with a wide unit mix (10x10 through 10x50)</li><li>80.6% occupancy with consistent rental income</li><li>Rents on several unit sizes sit below local market rates, creating upside through rent adjustments alone</li><li>Two 10x50 units have moveable interior walls on-site, ready to split into smaller, higher-revenue units</li><li>Fully fenced with electronic gate system, control box upgraded in 2025</li><li>Recent capital
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NOI
$80,000
Cap Rate
22.86%
DSCR
3.85
Strong
Cash-on-Cash
56.40%
Monthly Payment
$1,731.609
Annual Cash Flow
$59,220.692