Self Storage Facility with Development
For Sale
$180,000
000 Sweets Drive Unit 24, Carbondale, IL 62901
Clear, level enterprise-zone property with existing mini-storage units and additional buildout capacity.
Property Size3,100 SF
Price / SF$58.06
Days on Market140
Property Features for 000 Sweets Drive Unit 24
General Information
Standard status
Active
Size
3,100 SF
Listing Agency:
COMMERCIAL REALTY ASSOCIATES
(618) 303-0700
Listed By:
Rolf Schilling · License #471012048
Source:
Amyboston.realtopiare
Added: Apr 13
Changed: Aug 29
Last Checked: Aug 25 at 3:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COMMERCIAL REALTY ASSOCIATES
Investment Insights
Based on property information with market context.
This self-storage property combines an existing 24-unit mini-storage component with clear, level land that is positioned for additional construction. The site is described as ready to build on, providing both an operating storage use and room for further improvements.
The property fronts a frontage road along Hwy 13 east of Carbondale, Illinois. Its enterprise-zone designation adds an important land-use and economic-development characteristic to the offering. The existing units and undeveloped portion create a combined self-storage and development profile.
The property fronts a frontage road along Hwy 13 east of Carbondale, Illinois. Its enterprise-zone designation adds an important land-use and economic-development characteristic to the offering. The existing units and undeveloped portion create a combined self-storage and development profile.
Key Highlights
- 24 mini‑storage units included
- Clear, level site ready for construction
- Frontage road location along Hwy 13
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
$14,950
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
8.31%
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%
$299,000
$299.0K
Cap Rate 7%
$213,571
$213.6K
Cap Rate 9%
$166,111
$166.1K
Market Conditions
NOI Build-Up for 3,100 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
$23.1K $7.44/SF
− Vacancy
−$1.7K −$0.55/SF
EGI
$21.4K $6.89/SF
− OpEx
−$6.4K −$2.07/SF
NOI
$15.0K $4.82/SF
Area
Jackson County, IL
Vacancy
7.40%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
30.00%
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%
$299,000
Cap Rate 7%
$213,571
Cap Rate 9%
$166,111
Alternative Uses
Best Use
Warehouse
$259.3K
$226.9K – $302.6K
NOI $18,154 @ 7.0% cap · market cap 10.09%
Second Best
Self Storage
$213.6K
$186.9K – $249.2K
NOI $14,950 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$845.0K
$739.4K – $985.8K
NOI $59,148 @ 7.0% cap · market cap 32.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 62901, IL
22,967
Population
12,498
Households
1.8
Avg Household Size
29
Median Age
48%
College-Educated
95%
High-School Grad
27.1 sq mi
ZIP Area
847
Density / Sq Mi
$32,960
Median Household Income
$23,962
Median Earnings
$732
Median Rent
$137,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Clear, level enterprise-zone property with existing mini-storage units and additional buildout capacity.
Where is this self storage facility located?
The property is located at 000 Sweets Drive Unit 24 Carbondale, IL.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 24 mini‑storage units included; Clear, level site ready for construction; Frontage road location along Hwy 13
