Mini-Storage Facility For
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106 Elizabeth Dr, Saint Martinville, LA 70582
136-unit mini-storage facility with expansion potential in St. Martinville.
Property Size19,482 SF
Lot Size0.53 Acres
Price / SF$76.99
Days on Market1490
Property Features for 106 Elizabeth Dr
General Information
Standard status
Active
Size
19,482 SF
Lot size
0.53 Acres
Property subtype
Land
Occupancy
95%
Net Operating Income
$110,000
Building Details
Year Built
2012
Buildings
7
Stories
1
Listing Agency:
Saurage Rotenberg Commercial Real Estate
Listed By:
Mike Stinson, CCIM · License #LA SALE.0000071948-ACT
Source:
Crexi
Added: Jul 26, 2022
Changed: Aug 21
Last Checked: Aug 20 at 8:15PM
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 Saurage Rotenberg Commercial Real Estate
Investment Insights
Based on property information with market context.
This property features a 136-unit mini-storage facility, consisting of 30 climate-controlled units and 106 non-climate-controlled units. The units are leased on a month-to-month basis and maintain approximately 95% occupancy. The facility is well-maintained and generates an NOI of $110,000 with a 7% cap rate. Current rental rates are below market value, contributing to low management costs. The property includes 0.53 acres of land that can be used for additional storage units. The total acreage is 1.729 acres. It has 309 feet of frontage on Elizabeth Dr. The property is located in Flood Zone "X", indicating no flood risk. Also available is a 24-unit apartment complex with additional land on Teresa Dr.
Key Highlights
- High Occupancy Rate: Stays 95% fully occupied, indicating strong demand
- Income Generation: Generates $110,000 Net Operating Income (NOI)
- Expansion Potential: 0.53 Acres available for building additional storage units
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
$135,501
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
9.03%
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%
$2,710,020
$2.7M
Cap Rate 7%
$1,935,729
$1.9M
Cap Rate 9%
$1,505,567
$1.5M
Market Conditions
NOI Build-Up for 19,482 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
$210.4K $10.80/SF
− Vacancy
−$16.8K −$0.86/SF
EGI
$193.6K $9.94/SF
− OpEx
−$58.1K −$2.98/SF
NOI
$135.5K $6.96/SF
Area
St. Martin County, LA
Vacancy
8.00%
Lease Rate
$10.80 /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%
$2,710,020
Cap Rate 7%
$1,935,729
Cap Rate 9%
$1,505,567
Alternative Uses
Best Use
Self Storage
$1.94M
$1.69M – $2.26M
NOI $135,501 @ 7.0% cap · market cap 9.03%
Second Best
Industrial
$1.42M
$1.24M – $1.66M
NOI $99,458 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$4.28M
$3.74M – $4.99M
NOI $299,477 @ 7.0% cap · market cap 19.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Explore this area
Business Placement
Demographics for 70582, LA
19,088
Population
9,122
Households
2.1
Avg Household Size
41
Median Age
13%
College-Educated
84%
High-School Grad
148.0 sq mi
ZIP Area
129
Density / Sq Mi
$46,690
Median Household Income
$36,265
Median Earnings
$787
Median Rent
$149,100
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 - 136-unit mini-storage facility with expansion potential in St. Martinville.
Where is this self storage facility located?
The property is located at 106 Elizabeth Dr Saint Martinville, LA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High Occupancy Rate: Stays 95% fully occupied, indicating strong demand; Income Generation: Generates $110,000 Net Operating Income (NOI); Expansion Potential: 0.53 Acres available for building additional storage units
