U Store Lock & Leave
Audubon, MN
Asking price
$600,000
Units
30
Cap rate
—
Price / unit
$20,000
What it would have to earn
This listing does not publish an NOI, so its return cannot be computed. These are the figures it would need to hit at the asking price — a screen to take to the broker, not a claim about the property.
- A 6% cap rate at this asking price
- $36,000($1,200/unit)
- A 8% cap rate at this asking price
- $48,000($1,600/unit)
- A 10% cap rate at this asking price
- $60,000($2,000/unit)
Annual net operating income, before financing. Cap rates vary by asset class and market; these three are a range to screen against, not a market rate for this property.
Only 1 listing in self-storage facilities discloses a cap rate — too few to publish a range, so this screen has nothing disclosed to check it against.
This asks about 1.2x the $481,500 median SBA loan approved for this asset class in this state, across 62 loans.
SBA figures are loan amounts approved, not sale prices — a loan covers only the financed part of a purchase, and most acquisitions are financed conventionally and never appear here. They describe what lenders committed to comparable businesses in this county, not what this property is worth.
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 U Store Lock & Leave Back to Results NEW Audubon, MN $600,000 Click Here to Request Offering Memorandum U Store Lock & Leave – Audubon is a two-building, all-steel drive-up self storage facility at 22540 185th St., Audubon, MN 56511, offered at $600,000 ($38.76/RSF). The property sits on 2.33 acres off US Highway 10, a corridor carrying about 12,270 vehicles per day, and the sale includes signage on the highway frontage. The buildings were built in 2016 (7,920 SF) and 2021 (7,560 SF) and together hold 43 uniform 12×30 units, or 15,480 rentable square feet. Construction is all metal, partitions included, and about half the units have in unit electrical outlets. The 9 condo units closest to Highway 10 are not part of the sale. Audubon is about 8 miles west of Detroit Lakes and 40 miles east of Fargo-Moorhead, in the heart of Becker County’s lake country. The county has more than 400 lakes, including nearby Big and Little Cormorant, and that seasonal and recreational population creates steady demand for the kind of large-format units this facility offers. Its 12×30 units fit boats, pontoons, campers, and vehicles. The State Demographic Center projects Becker County to grow 6.4% from 2025 to 2035, outpacing Minnesota overall. The facility is currently about 81% occupied, and power is not billed separately. That gives a buyer a clear path to more value through lease-up and rate management. $600,000 View Executive Summary Request Offering Memorandum All fields are required. I am a Principal I am a Broker I accept the Disclaimer . Property Info $600,000 15,480 RSF 43 Units 2.33 Acres Contact Listing Broker Listing Broker Alex Ihrke Area Storage Advisors [phone — unlock to view] Email Listing Broker Nathan Gottlieb Area Storage Advisors [phone — unlock to view] Email Listing Broker Tom Flannigan Area Storage Advisors [phone — unlock to view] Email Stay Connected Contact Us 1-800-55-STORE Contact Us 5460 S. Quebec Street Suite 100 Greenwood Village, CO 80111 [email — unlock to view] 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 | $600,000 |
|---|---|
| Units | 30 |
| Price per unit | $20,000 |
| Building size | 7,920 sq ft |
| First seen by UnitListed | Sep 30, 2026 |
| Source page last checked | Sep 30, 2026 |
| Source last changed | Sep 30, 2026 |
Trade area · Becker, MN
5 of 6 availableContext about the county from the public record — not from the seller, and not a valuation. The seller's own figures are shown separately above and are never mixed with these.
Census records no lessors of miniwarehouses and self-storage units in Becker, MN, a county of 35,260 residents.
- Mapped competitors within 10 miles
- 7
- Residents per competing facility
- —
- Renter-occupied housing
- 22.2%
- Median SBA loan approved, this asset class
- $481,500
- SBA loans in this industry that charged off
- 1.6%
- FEMA composite risk rating
- Very Low
OpenStreetMap contributors · current
Census records no lessors of miniwarehouses and self-storage units establishments in this county, so there is no ratio to compute. That can mean an unserved market or a county too small for Census to disclose.
US Census County Business Patterns + ACS · 2022 · county level
US Census ACS 5-year, table B25003 · 2023 · county level
SBA 7(a) and 504 FOIA loan disclosures · FY2011-FY2024 · state level
SBA 7(a) and 504 FOIA loan disclosures · FY2011-FY2024 · state level
FEMA National Risk Index · 2025 · county level
SBA figures are loan amounts approved, not sale prices — a loan covers only the financed part of a purchase, and most acquisitions are financed conventionally and never appear here. They describe what lenders committed to comparable businesses in this county, not what this property is worth.
Sources: US Census Bureau (County Business Patterns, American Community Survey), US Small Business Administration 7(a)/504 loan disclosures, FEMA National Risk Index, and © OpenStreetMap contributors. Public records describe a county, not this property.
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 30, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 30, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
