Self-Storage Portfolio in Multiple
For Sale
Contact for pricing
Pending
11967 Airport Blvd, Mobile, AL 36608
Five self-storage facilities with expansion opportunities in Alabama and Mississippi.
Property Size136,497 SF
Lot Size18.30 Acres
Days on Market157
Property Features for 11967 Airport Blvd
General Information
Standard status
Pending
Size
136,497 SF
Lot size
18.30 Acres
Property subtype
Industrial, Self Storage
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$878,595
Building Details
Year Built
2022
Units
1103
Tenancy
Multi
Listing Agency:
Ripco Real Estate
(407) 924-1408
Listed By:
Jack Kaiser · License #FL SL3519490
Source:
Crexi
Added: Mar 27
Changed: Aug 27
Last Checked: Aug 29 at 9:17PM
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 Ripco Real Estate
Investment Insights
Based on property information with market context.
The Generations Self-Storage Portfolio features five properties strategically located in Alabama and Mississippi. The portfolio includes 1,103 units, encompassing traditional storage units, climate-controlled units, and uncovered and dedicated parking spaces. The sites are secured with perimeter fencing and gated entry. Spread across 5 locations for a total of 18.3 acres, the portfolio offers opportunities for increased profitability through occupancy stabilization and rental rate adjustments. The absence of basements in most Alabama and Mississippi homes and the unsuitability of attics for storage create a high demand for storage solutions. Vacant land is available for the construction of conventional storage units or the addition of paved and covered parking spaces.
Key Highlights
- Portfolio of five self‑storage properties in Alabama and Mississippi.
- Total of 1,103 units, including traditional, climate‑controlled, and parking spaces.
- Value‑add opportunity through occupancy stabilization and rental rate adjustments.
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
$641,165
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
4.00%
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%
$12,823,300
$12.8M
Cap Rate 7%
$9,159,500
$9.2M
Cap Rate 9%
$7,124,056
$7.1M
Market Conditions
NOI Build-Up for 136,497 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
$982.8K $7.20/SF
− Vacancy
−$66.8K −$0.49/SF
EGI
$915.9K $6.71/SF
− OpEx
−$274.8K −$2.01/SF
NOI
$641.2K $4.70/SF
Area
Mobile, AL
Vacancy
6.80%
Lease Rate
$7.20 /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%
$12,823,300
Cap Rate 7%
$9,159,500
Cap Rate 9%
$7,124,056
Alternative Uses
Best Use
Self Storage
$21.73M
$19.02M – $25.35M
NOI $1,521,218 @ 7.0% cap · market cap 9.48%
Second Best
Industrial
$9.16M
$8.01M – $10.69M
NOI $641,165 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$34.69M
$30.36M – $40.48M
NOI $2,428,511 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 36608, AL
39,782
Population
17,690
Households
2.2
Avg Household Size
34
Median Age
42%
College-Educated
93%
High-School Grad
65.1 sq mi
ZIP Area
611
Density / Sq Mi
$64,372
Median Household Income
$37,530
Median Earnings
$1,045
Median Rent
$234,400
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 - Five self-storage facilities with expansion opportunities in Alabama and Mississippi.
Where is this self storage facility located?
The property is located at 11967 Airport Blvd Mobile, AL.
What is the asking price?
The asking price for this property is $16,042,000.
What are key features of this property?
This property features: Portfolio of five self‑storage properties in Alabama and Mississippi.; Total of 1,103 units, including traditional, climate‑controlled, and parking spaces.; Value‑add opportunity through occupancy stabilization and rental rate adjustments.
