Four Seasons Mini Storage
For Sale
Contact for pricing
Pending
12026 Ocean Gateway, Ocean City, MD 21842
Storage property offering both drive-up and climate-controlled accommodations along US Route 50.
Property Size20,500 SF
Days on Market109
Property Features for 12026 Ocean Gateway
General Information
Standard status
Pending
Size
20,500 SF
Class
B
Total Parking Spaces
4
Property subtype
Self Storage
Zoning
C2
Occupancy
86%
Net Operating Income
$172,135
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Self-Storage Units
126
Building Details
Year Built
1997
Buildings
9
Units
122
Tenancy
Multi
Listing Agency:
ParaSell Inc
Listed By:
Scott Reid · License #F06134000
(949) 942-6585
Source:
Crexi
Added: Jun 29
Changed: Oct 13
Last Checked: Oct 14 at 10:10PM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
Four Seasons Mini Storage is a self-storage facility built in 1997, comprising approximately 20,500 net rentable square feet and 126 units. The unit mix includes traditional drive-up storage and climate-controlled accommodations. The property is zoned C2 and is located at 12026 Ocean Gateway in Ocean City, Maryland.
The facility fronts the US Route 50 corridor, which carries approximately 31,000 vehicles per day and serves as a primary route into Ocean City. Its surrounding ten-mile trade area includes more than 30,000 residents and 13,400 households, with median household incomes exceeding $83,000. The market also includes more than 5,300 seasonal and vacant housing units and four operating self-storage facilities within a three-mile radius.
Current occupancy is 86.51%, providing an operating snapshot alongside the property's unit count, rentable area, and dual storage formats.
The facility fronts the US Route 50 corridor, which carries approximately 31,000 vehicles per day and serves as a primary route into Ocean City. Its surrounding ten-mile trade area includes more than 30,000 residents and 13,400 households, with median household incomes exceeding $83,000. The market also includes more than 5,300 seasonal and vacant housing units and four operating self-storage facilities within a three-mile radius.
Current occupancy is 86.51%, providing an operating snapshot alongside the property's unit count, rentable area, and dual storage formats.
Key Highlights
- Approximately 20,500 net rentable square feet across 126 storage units
- Combination of traditional drive‑up and climate‑controlled storage
- 86.51% current occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,363
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,727,260
$3.7M
Cap Rate 7%
$2,662,329
$2.7M
Cap Rate 9%
$2,070,700
$2.1M
Market Conditions
NOI Build-Up for 20,500 SF
Gross rent
$287.8K $14.04/SF
− Vacancy
−$21.6K −$1.05/SF
EGI
$266.2K $12.99/SF
− OpEx
−$79.9K −$3.90/SF
NOI
$186.4K $9.09/SF
Area
Worcester County, MD
Vacancy
7.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,727,260
Cap Rate 7%
$2,662,329
Cap Rate 9%
$2,070,700
Alternative Uses
Best Use
Warehouse
$2.66M
$2.33M – $3.11M
NOI $186,475 @ 7.0% cap · market cap 6.66%
Second Best
Self Storage
$2.66M
$2.33M – $3.11M
NOI $186,363 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$4.93M
$4.31M – $5.75M
NOI $344,843 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 21842, MD
11,104
Population
32,684
Households
0.3
Avg Household Size
53
Median Age
39%
College-Educated
95%
High-School Grad
9.2 sq mi
ZIP Area
1,207
Density / Sq Mi
$75,372
Median Household Income
$40,189
Median Earnings
$1,258
Median Rent
$415,900
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 - Storage property offering both drive-up and climate-controlled accommodations along US Route 50.
Where is this self storage facility located?
The property is located at 12026 Ocean Gateway Ocean City, MD.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Approximately 20,500 net rentable square feet across 126 storage units; Combination of traditional drive‑up and climate‑controlled storage; 86.51% current occupancy
