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34271854
34271853

4870 66TH ST NW, WALKER, MN 56484 For Sale

TF
MN 40347633, IA S67594000
Argus Self Storage Advisors
AI
MN 40620458, MN
Argus Self Storage Advisors
Listed by Argus Self Storage Advisors
$2,450,000
8 days on market
Updated 8 days ago

Walker Storage Max

Details
APN 38-390-0150
Property Type Self Storage
Square Footage 31,920
Units 32
Cap Rate 7.60%
Occupancy 100%
Year Built 2020
Acreage 3.200

Fully Occupied, High Quality Self Storage in Walker, MN

Marketing description

Lead Agent: Alex Ihrke

Walker Storage Max presents a rare opportunity to acquire a best-in-class, purpose-built self-storage facility in one of Minnesota’s most sought-after lake and cabin destinations. Situated directly off State Highway 371, the property benefits from prime visibility and high traffic density in a market defined by strong seasonal and year-round demand. Walker sits at the gateway to Leech Lake and the surrounding cabin country, where limited storage supply and a growing base of seasonal residents, boaters, and RV owners have created outsized demand for secure storage, particularly for large vehicles, boats, and recreational equipment that don’t fit conventional units.

The facility was developed in two phases, with the first building completed in August 2020 and the second in July 2021, and has maintained 100% occupancy since each building opened. Despite this exceptional performance, the current ownership has only implemented one rental rate increase since construction, with the most recent adjustment occurring two years ago, pointing to significant embedded upside for a new owner. Built to serve the region’s RV and lake-country clientele, the units feature 14-foot automatic doors, in-floor heating, ventilation systems, 30-amp outlets, and man doors, combined with robust site security including full perimeter fencing with barbed wire, keypad access control, surveillance cameras, and bollard protection at every door and corner.

Investment highlights

  • High occupancy since inception — both buildings have been fully leased since delivery in 2020 and 2021, demonstrating exceptional, proven demand.
  • Significant income growth potential — only one rate increase implemented since construction (last raised 2 years ago), offering a clear path to rental rate growth along with ability to add ancillary revenue streams, such as tenant protection plans.
  • Purpose-built for high-value cabin/lake country demand — large, RV-sized units with in-floor heating, ventilation, and 30-amp power cater to a deep and underserved local need.
  • Prime Highway 371 location — high-traffic, high-visibility site in the heart of Leech Lake cabin country.
  • High-quality security and construction — fully fenced with barbed wire, keypad access, surveillance cameras, and bollard-protected units minimize risk and deferred maintenance.
  • Potential for assumable debt — buyers have the opportunity to assume a portion of the seller’s existing debt at a favorable rate, offering below-market financing and enhanced returns for a qualified purchaser.

Listing Contacts

TF
MN 40347633, IA S67594000
Argus Self Storage Advisors
AI
MN 40620458, MN
Argus Self Storage Advisors
Listed by Argus Self Storage Advisors

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Additional Information

Name
Tom Flannigan
License
40347633
Brokerage
Keller Williams Integrity Lakes
Brokerage Phone
6128217400
Brokerage Address
800 North Washington Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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