1810 1ST AVE E Newton IA 50208-4051

CBRE is pleased to present the opportunity to acquire newly converted Climate-Controlled Storage and Retail occupied facility in Newton, Iowa. This 17,824 SF standalone building was purchased in 2021 for a full rehab partitioning 6,000 SF retail space, from the remaining 17,824 SF built out as indoor climate-controlled storage units. The retail space is occupied on a Net lease by The WELL Thrift Store which is a growing consignment retailer with 5 locations in Central Iowa. The storage component consists of 62 expertly designed interior storage units ranging from 80 to 180 square feet completed in January 2023. There is a low supply of CC storage units in the market and the demand was evident by stabilization early into year one and maintained excellent historical occupancy. This real estate venture offers an investor a secure and successful multi-use revenue stream with significant rental income appreciation with limited expense with the Net lease and rebated property taxes.

• Sale Price: $1,225,000 ($68/SF)

• 2024 NOI: $110,445 (9% CAP)

• 2025 Annualized Rent: $132,960

• Sales Tax Fully Implemented to Rentals (Oct 2025)

• Large Waiting List

• 6,000 SF Net Lease

• 62 Storage Units

• Strong Occupancy History

• Attractive Tax Abatement (2025-2032)\

• 24 HR Secure Access

• Storage Unit Mix: (80, 120, 160, 180 Square Feet)

• Centrally Located on 1st Avenue East͇ Excellent Visibility and Signage

For more information and to view our confidential offering memorandum, please visit:

• https://www.cbredealflow.com/handler/modern.aspx?pv=szYq3cmCpO3D0BhD2WlpJCGwHhiLFAw0yHOJ1nzQc-4C-OISHBDwk5ux89x5gWwx_fOPXg0V03Nmo4d8rWNFYw