Self Storage Property with Rental
For Sale
$374,900
160 NW Hickman Rd., Calabash, NC 28467
COMMERCIAL/INDUSTRIAL, Calabash, NC
Property Size1,231 SF
Lot Size2.25 Acres
Price / SF$304.55
Days on Market25
Property Features for 160 NW Hickman Rd.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CO-CLD
Subdivision
31B North Carolina
Standard status
Active
Size
1,231 SF
Lot size
2.25 Acres
Building Details
Floors in Building
1
Number of units
1
Listing Agency:
CB Sea Coast Advantage NMB · Coldwell Banker Real Estate
(843) 280-1232
Listed By:
Kenny Sherman · License #312402
(843) 467-6308
Added: Jul 29
Changed: Aug 19
Last Checked: Aug 22 at 10:06AM
MLS# 2618880
Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-storage property at 160 NW Hickman Rd. encompasses 2.25 acres and includes a 1,231-square-foot rental home. The property is identified as Hickman Rd Boat Storage and is commercially zoned for storage under CO-CLD. An additional acre and a half at the rear includes electric, water, and sewer connections, creating a separate area identified for possible business or residential development.
The property is in Calabash, near Highway 17 and Brunswick Plantation, with proximity to Sunset Beach and Cherry Grove Beach. The surrounding area is also described as being near seafood, watersports, live entertainment, and beach-oriented amenities.
The property is in Calabash, near Highway 17 and Brunswick Plantation, with proximity to Sunset Beach and Cherry Grove Beach. The surrounding area is also described as being near seafood, watersports, live entertainment, and beach-oriented amenities.
Key Highlights
- 2.25‑acre commercial property identified as Hickman Rd Boat Storage
- 1,231‑square‑foot rental home included
- CO‑CLD zoning with commercial storage use identified
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,246
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$304,920
$304.9K
Cap Rate 7%
$217,800
$217.8K
Cap Rate 9%
$169,400
$169.4K
Market Conditions
NOI Build-Up for 1,231 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.2K $15.60/SF
− Vacancy
−$1.3K −$1.03/SF
EGI
$17.9K $14.57/SF
− OpEx
−$2.7K −$2.19/SF
NOI
$15.2K $12.38/SF
Area
Brunswick County, NC
Vacancy
6.60%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$304,920
Cap Rate 7%
$217,800
Cap Rate 9%
$169,400
Alternative Uses
Best Use
Warehouse
$217.8K
$190.6K – $254.1K
NOI $15,246 @ 7.0% cap · market cap 4.07%
Second Best
Self Storage
$178.1K
$155.9K – $207.8K
NOI $12,468 @ 7.0% cap · market cap 3.33%
Theoretical Best
Multifamily LT 5
$15.07M
$13.19M – $17.59M
NOI $1,055,101 @ 7.0% cap · market cap 281.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 28467, NC
11,770
Population
8,098
Households
1.5
Avg Household Size
65
Median Age
31%
College-Educated
97%
High-School Grad
17.4 sq mi
ZIP Area
676
Density / Sq Mi
$72,840
Median Household Income
$38,909
Median Earnings
$1,346
Median Rent
$281,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - The site carries CO-CLD zoning and includes a rental home.
Where is this self storage facility located?
The property is located at 160 NW Hickman Rd. Calabash, NC.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: 2.25‑acre commercial property identified as Hickman Rd Boat Storage; 1,231‑square‑foot rental home included; CO‑CLD zoning with commercial storage use identified
