230-Unit Self-Storage
For Sale
Contact for pricing
10601 South Hardwick Lane, Columbia, MO 65201
Diversified storage property with drive-up, climate-controlled, covered parking, and uncovered parking units.
Property Size26,150 SF
Price / SF$99.43
Days on Market11
Property Features for 10601 South Hardwick Lane
General Information
Standard status
Active
Size
26,150 SF
Property subtype
Self Storage, Business for Sale
Occupancy
86%
Net Operating Income
$186,665
Financials
Asking Price
$2,600,000
Cap Rate
7.18%
Additional Details
Highway Access
Yes
Self-Storage Units
230
Listing Agency:
EquiCap Commercial
Listed By:
Alex Erbs · License #2018044393
Source:
Crexi
Added: Sep 1
Changed: Sep 9
Last Checked: Sep 10 at 7:55AM
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 EquiCap Commercial
Investment Insights
Based on property information with market context.
This self-storage facility includes 230 units totaling 26,150 NRSF. The configuration combines non-climate drive-up units, climate-controlled units, covered parking, and uncovered parking, providing several storage formats within one operating property. As of the August 7, 2026 occupancy date, 198 units were rented, equal to 86.1% physical occupancy and 80.1% occupancy by rentable square footage.
The property is located at 10601 South Hardwick Lane in Columbia, Missouri, with frontage on US Highway 63. Columbia Regional Airport and Lakeside Amphitheatre are identified as nearby area destinations. The surrounding five-mile trade area has 6,955 residents and 2,692 households, with projected increases to 7,274 residents and 2,837 households over the next five years.
The property is located at 10601 South Hardwick Lane in Columbia, Missouri, with frontage on US Highway 63. Columbia Regional Airport and Lakeside Amphitheatre are identified as nearby area destinations. The surrounding five-mile trade area has 6,955 residents and 2,692 households, with projected increases to 7,274 residents and 2,837 households over the next five years.
Key Highlights
- 230‑unit self‑storage property totaling 26,150 NRSF
- Mix includes non‑climate drive‑up, climate‑controlled, covered parking, and uncovered parking units
- 198 units rented as of August 7, 2026
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
$151,565
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
5.83%
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%
$3,031,300
$3.0M
Cap Rate 7%
$2,165,214
$2.2M
Cap Rate 9%
$1,684,056
$1.7M
Market Conditions
NOI Build-Up for 26,150 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
$235.4K $9.00/SF
− Vacancy
−$18.8K −$0.72/SF
EGI
$216.5K $8.28/SF
− OpEx
−$65.0K −$2.48/SF
NOI
$151.6K $5.80/SF
Area
Columbia, MO
Vacancy
8.00%
Lease Rate
$9.00 /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%
$3,031,300
Cap Rate 7%
$2,165,214
Cap Rate 9%
$1,684,056
Alternative Uses
Best Use
Warehouse
$4.05M
$3.55M – $4.73M
NOI $283,801 @ 7.0% cap · market cap 10.92%
Second Best
Self Storage
$2.17M
$1.89M – $2.53M
NOI $151,565 @ 7.0% cap · market cap 5.83%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
86.1%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 65201, MO
48,734
Population
21,239
Households
2.3
Avg Household Size
26
Median Age
54%
College-Educated
95%
High-School Grad
87.4 sq mi
ZIP Area
558
Density / Sq Mi
$46,177
Median Household Income
$18,709
Median Earnings
$1,078
Median Rent
$229,300
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 - Diversified storage property with drive-up, climate-controlled, covered parking, and uncovered parking units.
Where is this self storage facility located?
The property is located at 10601 South Hardwick Lane Columbia, MO.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 230‑unit self‑storage property totaling 26,150 NRSF; Mix includes non‑climate drive‑up, climate‑controlled, covered parking, and uncovered parking units; 198 units rented as of August 7, 2026
