14-Unit Self-Storage
101 S Main Street, North Salem, IN 46165
For Sale
$159,900
The non-climate-controlled property includes two buildings and an area for customer parking.
Property Size1,200 SF
Price / SF$133.25
Days on Market179
Property Features for 101 S Main Street
General Information
Standard status
Size
Property subtype
Zoning
Warehouse & Industrial
Cold Storage
Self-Storage Units
Additional Details
Business Included
Property Use
Building Details
Building Size
Buildings
Listing Agency:
Vaughn Realty Group
(317) 341-4101
Listed By:
Myrona Gilley
(765) 720-1849
Source:
Battsrealestategroup
Added: May 15
Changed: Nov 7
Last Checked: Nov 8 at 8:46PM
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 Vaughn Realty Group
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Investment Insights
Based on property information with market context.
This self-storage property at 101 S Main Street in North Salem, Indiana, comprises two buildings with 14 units. The mix includes four 8x6 units, eight 8x12 units and two 15x20 units. Electrical access is available in the 15x20 units. The facility is non-climate-controlled and zoned Z04. An area on site provides space for customers to park while organizing their belongings; the remarks also identify it as a possible location for additional units.
Key Highlights
- 14 storage units across two buildings
- Unit mix: (4) 8x6, (8) 8x12 and (2) 15x20
- Electrical access in the 15x20 units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,423
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,460
$208.5K
Cap Rate 7%
$148,900
$148.9K
Cap Rate 9%
$115,811
$115.8K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$15.8K $13.20/SF
− Vacancy
−$950 −$0.79/SF
EGI
$14.9K $12.41/SF
− OpEx
−$4.5K −$3.72/SF
NOI
$10.4K $8.69/SF
Area
Hendricks County, IN
Vacancy
6.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,460
Cap Rate 7%
$148,900
Cap Rate 9%
$115,811
Alternative Uses
Best Use
Self Storage
$148.9K
$130.3K – $173.7K
NOI $10,423 @ 7.0% cap · market cap 6.52%
Second Best
Warehouse
$123.4K
$108.0K – $144.0K
NOI $8,638 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$301.2K
$263.6K – $351.4K
NOI $21,086 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 46165, IN
1,562
Population
837
Households
1.9
Avg Household Size
43
Median Age
26%
College-Educated
91%
High-School Grad
41.8 sq mi
ZIP Area
37
Density / Sq Mi
$88,348
Median Household Income
$54,934
Median Earnings
$1,526
Median Rent
$301,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - The non-climate-controlled property includes two buildings and an area for customer parking.
Where is this self storage facility located?
The property is located at 101 S Main Street North Salem, IN.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: 14 storage units across two buildings; Unit mix: (4) 8x6, (8) 8x12 and (2) 15x20; Electrical access in the 15x20 units
