Self Storage Facility with
For Sale
$2,999,900
5301 Highway 9, Inman, SC 29349
COMMERCIAL/INDUSTRIAL, Inman, SC
Property Size1,800 SF
Lot Size4.24 Acres
Price / SF$1,666
Days on Market242
Property Features for 5301 Highway 9
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From interstate I-85 take the highway 9 exit and go north approximately 5.2 miles and the property will be on the left.
Subdivision
Boiling Springs
Standard status
Active
Size
1,800 SF
Lot size
4.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
13190
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Flooring type
Concrete
Listing Agency:
Keller Williams Realty
(864) 574-6000
Listed By:
John Smith · License #45305
(864) 494-0532
Added: Dec 30, 2025
Changed: Aug 19
Last Checked: Aug 29 at 2:06AM
MLS# 332084
Copyright © 2026 Spartanburg Association of REALTORS, Inc. 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.
Self storage facility on a 4.24-acre site with two main structures. The property includes an approximately 1,800 SF warehouse with office space and a restroom, plus a 3,000 SF storage building containing 28 individual storage units in multiple sizes: 12 units are 5x10, 8 units are 10x20, and 8 units are 10x10. Concrete flooring is noted throughout, and the property has heat pump heating and cooling. Public water service is provided.
The site has road frontage on Highway 9 (listed at over 600 feet), with additional space on an adjacent lot for parking, extra buildings, or storage. A nearly 2.18-acre partial parcel next door is currently noted as available for sale and could potentially be combined for a total of about +/- 7 acres of commercial use.
Additional storage and operational flexibility may be supported by the combination of warehouse and individually partitioned units, along with on-site area described for parking or expansion.
The site has road frontage on Highway 9 (listed at over 600 feet), with additional space on an adjacent lot for parking, extra buildings, or storage. A nearly 2.18-acre partial parcel next door is currently noted as available for sale and could potentially be combined for a total of about +/- 7 acres of commercial use.
Additional storage and operational flexibility may be supported by the combination of warehouse and individually partitioned units, along with on-site area described for parking or expansion.
Key Highlights
- 28 individual storage units in a 3,000 SF storage building (12x 5x10, 8x 10x20, 8x 10x10)
- Approximately 1,800 SF warehouse with office space and a restroom
- 4.24‑acre site with over 600 feet of road frontage on Highway 9
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
$97,817
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
3.26%
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%
$1,956,340
$2.0M
Cap Rate 7%
$1,397,386
$1.4M
Cap Rate 9%
$1,086,856
$1.1M
Market Conditions
NOI Build-Up for 1,800 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
$127.4K $70.80/SF
− Vacancy
−$12.4K −$6.87/SF
EGI
$115.1K $63.93/SF
− OpEx
−$17.3K −$9.59/SF
NOI
$97.8K $54.34/SF
Area
Spartanburg County, SC
Vacancy
9.70%
Lease Rate
$70.80 /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%
$1,956,340
Cap Rate 7%
$1,397,386
Cap Rate 9%
$1,086,856
Alternative Uses
Best Use
Warehouse
$1.40M
$1.22M – $1.63M
NOI $97,817 @ 7.0% cap · market cap 3.26%
Second Best
Self Storage
$242.4K
$212.1K – $282.8K
NOI $16,965 @ 7.0% cap · market cap 0.57%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 29349, SC
36,458
Population
15,118
Households
2.4
Avg Household Size
41
Median Age
22%
College-Educated
87%
High-School Grad
76.9 sq mi
ZIP Area
474
Density / Sq Mi
$74,363
Median Household Income
$42,604
Median Earnings
$917
Median Rent
$233,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Multi-building storage property with an 28-unit storage building plus an 1,800 SF warehouse with office and restroom.
Where is this self storage facility located?
The property is located at 5301 Highway 9 Inman, SC.
What is the asking price?
The asking price for this property is $2,999,900.
What are key features of this property?
This property features: 28 individual storage units in a 3,000 SF storage building (12x 5x10, 8x 10x20, 8x 10x10); Approximately 1,800 SF warehouse with office space and a restroom; 4.24‑acre site with over 600 feet of road frontage on Highway 9
