Gopher State Storage
Elk River, MN
Asking price
$1,000,000
Units
72
Cap rate
—
Price / unit
$13,889
About this property
Argus Self Storage Property Listings Listings Who We Are Find A Broker What We Do News & Research Market Monitor Presentations Industry News Closings Contact Listings Who We Are Find A Broker What We Do News & Research Market Monitor Presentations Industry News Closings Contact Gopher State Storage Back to Results Elk River, MN $1,000,000 Click Here to Request Offering Memorandum Positioned along the well-trafficked Highway 169 corridor in the Minneapolis MSA, this facility benefits from robust drive-by exposure and convenient accessibility for a growing residential customer base. The property features a fully paved, perimeter-fenced site with keypad gate access, single-story drive-up units, and modern operating systems already in place, running on storEDGE with online rentals and instant gate-code delivery. Situated at the junction of U.S. Highways 10 and 169, 34 miles northwest of downtown Minneapolis, the property benefits from strong regional draw and substantial untapped demand. With a proven track record of 93% unit occupancy and 96% square-foot occupancy and stable income, plus significant upside from rate increases the seller has never implemented, Gopher State Storage presents an attractive asset for investors seeking stable, in-place cash flow with a clear path to growth. $1,000,000 View Executive Summary All fields are required. I am a Principal I am a Broker I accept the Disclaimer . Property Info $1,000,000 11,710 RSF 72 Units 93% Occupied Contact Listing Broker Listing Broker Alex Ihrke Area Storage Advisors 612-394-7553 Email Listing Broker Nathan Gottlieb Area Storage Advisors 612-930-6614 Email Listing Broker Tom Flannigan Area Storage Advisors 612-790-3747 Email Stay Connected Contact Us 1-800-55-STORE Contact Us 5460 S. Quebec Street Suite 100 Greenwood Village, CO 80111 info@argus-realestate.com Join Argus Interested in becoming an Argus Broker Affiliate? Learn How © 2026 Argus Self Storage Advisors.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $1,000,000 |
|---|---|
| Units | 72 |
| Price per unit | $13,889 |
| Building size | 11,710 sq ft |
| First seen by UnitListed | Sep 12, 2026 |
| Source page last checked | Oct 27, 2026 |
Before you call the broker
8 things are not disclosed on this listing. These are the questions that would close the gap — specific to a storage facility, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Physical vs economic occupancy — not disclosed
What is physical occupancy, and what is economic occupancy?
A facility can be 92% full and still be collecting far less, through concessions and delinquency. Physical occupancy alone flatters the deal.
Climate-controlled share — not disclosed
How many units are climate-controlled, and what is the rate premium?
Climate-controlled space earns more per square foot and costs more to run. The mix changes both sides of the model.
Expansion land and entitlements — not disclosed
Is there expansion land, and has anything been entitled or permitted?
Often the whole thesis in storage. Also the difference between a plan and a permit.
How it is managed today — not disclosed
Is this staffed, remotely managed or unmanned, and does a management contract transfer?
Decides whether the expense line you are shown survives the sale.
Asking price — disclosed
Currency of the asking price — disclosed
Unit mix and rent roll — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Sep 12, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 12, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
