Self-Storage Portfolio with Drive-Up
For Sale
$3,095,000
1061 Banning St, Marshfield, MO 65706
Two established storage facilities offer drive-up access, climate-controlled units, and upgraded 24/7 monitored security systems.
Property Size41,000 SF
Lot Size2.80 Acres
Price / SF$75.49
Days on Market123
Property Features for 1061 Banning St
General Information
Standard status
Active
Size
41,000 SF
Total Parking Spaces
4
Lot size
2.80 Acres
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$37,185
Listing Agency:
HomeCoin.com
Listed By:
Jonathan Minerick · License #B-24350
(888) 400-2513
Source:
Exprealty
Added: May 12
Changed: Sep 4
Last Checked: Sep 10 at 10:40AM
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 HomeCoin.com
Investment Insights
Based on property information with market context.
This sale package includes two established self-storage facilities being sold together, totaling 346 storage units and approximately 41,000 net rentable square feet. Both sites feature drive-up units and climate-controlled storage served by all-electric heat pump HVAC systems. Security upgrades include full fencing, 24/7 gate access, and remotely monitored security systems with automated lockouts and code changes integrated via ESS software. The portfolio also includes a few outdoor storage spots at the Banning location, and both facilities have potential for small building additions. While currently not utilized, both locations have the ability to connect to public water and sewer.
Facility 1 is located at 1061 Banning St in Marshfield, MO on approximately 1.43 acres (zoned R-3) and offers 164 units, including 4 outdoor parking spaces. Facility 2 is located at 423 S Locust St in Marshfield, MO on approximately 1.37 acres (zoned B1/B3) and offers 182 storage units.
This configuration can support operators seeking a two-site, turnkey-style storage platform with consistent unit amenities across both properties, including climate control and monitored after-hours access. The presence of outdoor storage options at one site and the stated ability to add small buildings may also be relevant for planning future on-site improvements within the existing unit mix.
Facility 1 is located at 1061 Banning St in Marshfield, MO on approximately 1.43 acres (zoned R-3) and offers 164 units, including 4 outdoor parking spaces. Facility 2 is located at 423 S Locust St in Marshfield, MO on approximately 1.37 acres (zoned B1/B3) and offers 182 storage units.
This configuration can support operators seeking a two-site, turnkey-style storage platform with consistent unit amenities across both properties, including climate control and monitored after-hours access. The presence of outdoor storage options at one site and the stated ability to add small buildings may also be relevant for planning future on-site improvements within the existing unit mix.
Key Highlights
- Portfolio includes 2 established self‑storage facilities sold together, totaling 346 units and 41,470± net rentable sq. ft.
- Facility 1 at 1061 Banning St: 1.43± acres, zoned R‑3, with 164 units and 20,910± net rentable sq. ft.
- Facility 2 at 423 S Locust St: 1.37± acres, zoned B1/B3, with 182 units and 20,560± net rentable sq. ft.
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
$131,495
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
4.25%
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%
$2,629,900
$2.6M
Cap Rate 7%
$1,878,500
$1.9M
Cap Rate 9%
$1,461,056
$1.5M
Market Conditions
NOI Build-Up for 41,000 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
$191.9K $4.68/SF
− Vacancy
−$4.0K −$0.10/SF
EGI
$187.9K $4.58/SF
− OpEx
−$56.4K −$1.37/SF
NOI
$131.5K $3.21/SF
Area
Webster County, MO
Vacancy
2.10%
Lease Rate
$4.68 /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%
$2,629,900
Cap Rate 7%
$1,878,500
Cap Rate 9%
$1,461,056
Alternative Uses
Best Use
Self Storage
$4.75M
$4.16M – $5.54M
NOI $332,690 @ 7.0% cap · market cap 10.75%
Second Best
Industrial
$1.88M
$1.64M – $2.19M
NOI $131,495 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$6.19M
$5.41M – $7.22M
NOI $433,176 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 65706, MO
15,784
Population
7,070
Households
2.2
Avg Household Size
40
Median Age
21%
College-Educated
91%
High-School Grad
180.0 sq mi
ZIP Area
88
Density / Sq Mi
$76,304
Median Household Income
$40,264
Median Earnings
$780
Median Rent
$234,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Two established storage facilities offer drive-up access, climate-controlled units, and upgraded 24/7 monitored security systems.
Where is this self storage facility located?
The property is located at 1061 Banning St Marshfield, MO.
What is the asking price?
The asking price for this property is $3,095,000.
What are key features of this property?
This property features: Portfolio includes 2 established self‑storage facilities sold together, totaling 346 units and 41,470± net rentable sq. ft.; Facility 1 at 1061 Banning St: 1.43± acres, zoned R‑3, with 164 units and 20,910± net rentable sq. ft.; Facility 2 at 423 S Locust St: 1.37± acres, zoned B1/B3, with 182 units and 20,560± net rentable sq. ft.
