100-Unit Self-Storage
For Sale
$2,395,000
1145 Front St, Soledad, CA 93960
Gated storage property with an on-site residence, leasing office, security systems, and dedicated parking.
Property Size13,226 SF
Price / SF$181.08
Days on Market106
Property Features for 1145 Front St
General Information
Standard status
Active
Size
13,226 SF
Total Parking Spaces
4
Property subtype
Multifamily
Additional Details
Cap Rate
6.04%
Self-Storage Units
100
Amenities
electronic gate access
security systems
on-site manager's residence
full-service leasing office
Exceptional Self-Storage Investment Opportunity
State-Of-The-Art Property Amenities
Strong Demographics
Advantage of No Rent Control in Self Storage
Listing Agency:
Marcus & Millichap - Palo Alto
Listed By:
Matthew McCaffrey · License #License(s): CA: 02230011
(650) 391-1863
Source:
Marcusmillichap
Added: Jul 3
Changed: Oct 1
Last Checked: Oct 16 at 5:50AM
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 Marcus & Millichap - Palo Alto
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Investment Insights
Based on property information with market context.
This self-storage facility at 1145 Front St in Soledad, California, contains approximately 13,226 net rentable square feet across 100 units. The property also includes four parking spaces, one on-site apartment, a leasing office, electronic gate access, and security systems. An on-site manager’s residence supports day-to-day operations.
The property is located in a city with approximately 24,413 residents within a five-mile radius. Self-storage operations at the site are not subject to local or state rent control laws.
The property is located in a city with approximately 24,413 residents within a five-mile radius. Self-storage operations at the site are not subject to local or state rent control laws.
Key Highlights
- Approximately 13,226 net rentable square feet
- 100 self‑storage units
- One on‑site apartment and manager’s residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,041
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,660,820
$3.7M
Cap Rate 7%
$2,614,871
$2.6M
Cap Rate 9%
$2,033,789
$2.0M
Market Conditions
NOI Build-Up for 13,226 SF
Gross rent
$233.3K $17.64/SF
− Vacancy
−$18.0K −$1.36/SF
EGI
$215.3K $16.28/SF
− OpEx
−$32.3K −$2.44/SF
NOI
$183.0K $13.84/SF
Area
Monterey County, CA
Vacancy
7.70%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,660,820
Cap Rate 7%
$2,614,871
Cap Rate 9%
$2,033,789
Alternative Uses
Best Use
Warehouse
$2.61M
$2.29M – $3.05M
NOI $183,041 @ 7.0% cap · market cap 7.64%
Second Best
Self Storage
$1.82M
$1.60M – $2.13M
NOI $127,719 @ 7.0% cap · market cap 5.33%
Theoretical Best
Specialty Retail
$5.05M
$4.42M – $5.89M
NOI $353,507 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 93960, CA
26,093
Population
4,998
Households
5.2
Avg Household Size
33
Median Age
7%
College-Educated
59%
High-School Grad
174.1 sq mi
ZIP Area
150
Density / Sq Mi
$92,504
Median Household Income
$31,660
Median Earnings
$1,492
Median Rent
$567,500
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 West region
Frequently Asked Questions
What type of property is this?
Self storage facility - Gated storage property with an on-site residence, leasing office, security systems, and dedicated parking.
Where is this self storage facility located?
The property is located at 1145 Front St Soledad, CA.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Approximately 13,226 net rentable square feet; 100 self‑storage units; One on‑site apartment and manager’s residence
