623 Penrose Street, Grinnell, IA 50112

Executive Storage in Grinnell, Iowa presents a highly attractive investment opportunity

anchored by a modern, drive-up self-storage asset with meaningful value-add upside.

Built in 2022, the property comprises 18,000 net rentable square feet (NRSF) across 198

rentable units and features a gated, secured, and fenced facility with an on-site office and

kiosk. The asset offers an intense concentration in non-climate-controlled storage, a

category that continues to experience strong demand among today’s storage users. With

64% physical occupancy and 50% economic occupancy, the facility demonstrates clear

upside through improved management, operational enhancements, continued lease-up,

and the ability to capture a 20% rent-to-market gap.

Situated on a spacious 6.24-acre lot in Grinnell, the property benefits from direct physical

expansion capabilities, with excess land available for additional storage development or

outdoor parking. The area’s consistent demand drivers, coupled with nearby residential

developments, provide a strong foundation for sustained lease-up and rental growth.

With a clear strategy focused on stabilizing occupancy, improving operations, and

increasing Net Operating Income (NOI), Executive Storage offers investors a compelling

opportunity to acquire a recently built asset at an attractive basis while capturing durable

upside.