Otsego Mini Storage (Crag Mini Storage)
Elk River, MN
Asking price
$5,200,000
Units
335
Cap rate
—
Price / unit
$15,522
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 Otsego Mini Storage (Crag Mini Storage) Back to Results UNDER CONTRACT Elk River, MN $5,200,000 Offers Due: Thursday, September 3, 2026 Click Here to Request Offering Memorandum Otsego Mini Storage is a 54,670 net rentable square foot, 335-unit drive-up self storage facility situated on 5.48 acres in one of the fastest-growing communities in the Twin Cities metro. Built in phases in 2004, 2017, and 2019, the facility has operated at consistently high occupancy while serving a trade area with limited competing supply. The site is fully paved in concrete and asphalt, completely enclosed by perimeter fencing with a gated access system, and protected by corner bollards and on-site camera coverage. Careful site grading delivers excellent drainage across the property; a meaningful advantage in a Minnesota climate. The location anchors the investment thesis. Otsego’s population has reached 25,454 and is growing at 3.79% annually (over 26% increase since the 2020 census) with a median household income of $119,927, and approximately 280 new home permits issued in 2025 alone. A Costco Wholesale is currently under construction in the city, joining an established retail node along the MN-101 corridor that carries roughly 52,000 vehicles per day. That combination of rooftops, retail traffic, and household income creates a strong demand profile for self-storage operators. The facility has been mom-and-pop managed throughout its life, with no online rental capability, a dated web presence, and no revenue management program in place. For an operator with modern systems, the gap between current performance and market performance is the opportunity. $5,200,000 View Executive Summary All fields are required. I am a Principal I am a Broker I accept the Disclaimer . Property Info $5,200,000 54,670 RSF 335 Units 5.48 Acres 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 | $5,200,000 |
|---|---|
| Units | 335 |
| Price per unit | $15,522 |
| Building size | 54,670 sq ft |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 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 6, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 6, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
