Climate-Controlled Self Storage
New
For Sale
$4,250,000
122 Dunbar Cave Rd, Clarksville, TN 37043
Self-storage property with a mix of climate-controlled and conventional units in Clarksville, Tennessee.
Property Size38,225 SF
Price / SF$111.18
Days on Market3
Property Features for 122 Dunbar Cave Rd
General Information
Standard status
Active
Size
38,225 SF
Property subtype
Self-Storage Facility
Occupancy
78%
Amenities
38,225 SF self-storage facility on Dunbar Cave Rd. in Clarksville, TN, featuring 252 units at approximately 79% physical occupancy.
Unmanned management and below-market occupancy create upside through local management, targeted marketing, tenant retention, and revenue optimization.
Clarksville is a fast-growing Tennessee market with a diverse economy, major employers, Fort Campbell, and I-24 access, located just 40 minutes northwest of Nashville.
Top Storage offers a compelling value-add opportunity with strong market fundamentals, diverse unit mix, below-market occupancy, and significant upside in fast-growing Middle Tennessee.
Building Details
Building Size
38,225 SF
Year Built
2010
Listing Agency:
Marcus & Millichap | Birmingham
Listed By:
Eddie Greenhalgh · License #License(s): AL: 0000882980
(205) 510-9111
Source:
Marcusmillichap
Added: Sep 16
Last Checked: Sep 18 at 3:57AM
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 | Birmingham
Investment Insights
Based on property information with market context.
This self-storage facility contains 38,225 rentable square feet across 308 units, including 102 climate-controlled units. Built in 2010, the property is operating at approximately 75% physical occupancy and is currently managed remotely without on-site staff.
The facility is located at 122 Dunbar Cave Rd in Clarksville, Tennessee, with access to I-24 and the Nashville area. Fort Campbell and a diverse employer base contribute to the surrounding market context. Current operations include an out-of-state management group, while the existing occupancy and unit mix provide a clear operating profile for evaluation.
The facility is located at 122 Dunbar Cave Rd in Clarksville, Tennessee, with access to I-24 and the Nashville area. Fort Campbell and a diverse employer base contribute to the surrounding market context. Current operations include an out-of-state management group, while the existing occupancy and unit mix provide a clear operating profile for evaluation.
Key Highlights
- 38,225 rentable square feet of self‑storage space
- 308 total units, including 102 climate‑controlled units
- Approximately 75% physical occupancy
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
$324,943
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
7.65%
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%
$6,498,860
$6.5M
Cap Rate 7%
$4,642,043
$4.6M
Cap Rate 9%
$3,610,478
$3.6M
Market Conditions
NOI Build-Up for 38,225 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
$504.6K $13.20/SF
− Vacancy
−$40.4K −$1.06/SF
EGI
$464.2K $12.14/SF
− OpEx
−$139.3K −$3.64/SF
NOI
$324.9K $8.50/SF
Area
Clarksville, TN
Vacancy
8.00%
Lease Rate
$13.20 /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%
$6,498,860
Cap Rate 7%
$4,642,043
Cap Rate 9%
$3,610,478
Alternative Uses
Best Use
Self Storage
$4.64M
$4.06M – $5.42M
NOI $324,943 @ 7.0% cap · market cap 7.65%
Second Best
Warehouse
$3.89M
$3.41M – $4.54M
NOI $272,537 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$6.42M
$5.61M – $7.49M
NOI $449,159 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 37043, TN
52,792
Population
22,221
Households
2.4
Avg Household Size
37
Median Age
43%
College-Educated
97%
High-School Grad
108.5 sq mi
ZIP Area
487
Density / Sq Mi
$91,871
Median Household Income
$46,602
Median Earnings
$1,208
Median Rent
$325,400
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 South region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage property with a mix of climate-controlled and conventional units in Clarksville, Tennessee.
Where is this self storage facility located?
The property is located at 122 Dunbar Cave Rd Clarksville, TN.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 38,225 rentable square feet of self‑storage space; 308 total units, including 102 climate‑controlled units; Approximately 75% physical occupancy
