87,108 SF | $11,130,000 | Extra Space Storage | Cedar Rapids, IA

Colliers is pleased to present a unique opportunity for qualified investors to acquire a premier self-storage facility managed by Extra Space Storage, strategically located at 2100 Edgewood Rd SW in Cedar Rapids, Iowa.  This institutional-grade conversion is ideally situated in the heart of Cedar Rapids’ primary retail corridor, serving a broad and growing customer base from Cedar Rapids, Cedar Hills, Fairfax, and the surrounding Southwest Area communities.

The facility is a high-quality redevelopment of a former regional grocery store, located within the bustling Westwood Plaza Shopping Center. Situated on approximately 4.26 acres and directly behind Buffalo Wild Wings, the property boasts exceptional visibility, prominent signage, and seamless access from both Edgewood Road and 20th Avenue SW.

Delivered in June 2022, the two-story climate-controlled facility features a convenient drive-through loading lane and offers 87,108 rentable square feet and 782 units, with unit sizes ranging from 5’x3’ to 10’x30’. The property has demonstrated impressive leasing velocity, reaching a current physical occupancy of 88.2%.

Included in the offering is an additional 1.65-acre outparcel, fully zoned for storage use and site-planned for a 20,200 RSF expansion—positioning the buyer to capitalize on future demand.

Cedar Rapids, Iowa’s second-largest city and the world’s leading corn-processing hub, presents compelling market fundamentals. The surrounding area is characterized by strong demographics, with over 103,900 residents within a five-mile radius and more than 57,150 people within three miles. The one-mile population has surged by 29.4% since 2000 and is projected to continue growing at nearly 1% annually.

Importantly, the local self-storage market is significantly undersupplied—Yardi reports a five-mile climate-controlled saturation rate of just 2.6 square feet per capita, with total storage saturation at only 6.1 square feet per person.
Extra Space Storage offers tenants a best-in-class experience with premium amenities, including a modern management office, 13 high-resolution 24-hour video surveillance cameras, a secure coded access control system, multiple loading areas (including a full-building drive-through), a freight elevator, ambient music and motion-activated LED lighting throughout the facility and inside larger units.

Offered at $11,130,000 ($127.77 per rentable square foot), this acquisition represents a rare chance to secure a top-tier, professionally managed self-storage asset with demonstrated leasing momentum and significant expansion potential. The property’s outstanding location, quality construction, and unmet demand for climate-controlled units make it a compelling investment opportunity.

The In State Broker for Iowa is Brian Brockman (License #B67571000) of Bang Realty, Inc.