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    Greenville Self-Storage Facility For Sale Title is generated by Realmo AI

    2088 Allen Road A, Greenville, NC 27834

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    For Sale
    $8,445,000

    Cash-flowing self-storage facility with expansion potential in Greenville, NC.

    Type:Self Storage
    Property size:
    75,574 SF
    Lot size:
    20.57 Acres
    Price / SF:
    $111/SF
    Added:
    Apr 16, 2026
    Days on Market:
    53
    Last Refresh:
    Apr 16 at 10:35 pm

    Property Features for 2088 Allen Road A

    General Information

    Standard status
    Active
    Size
    75,574 SF
    Lot size
    20.57 Acres
    Property subtype
    Self Storage

    We can help!

    Listing Contact
    Frank DeSalvo
    Frank DeSalvo

    Listing agent Frank DeSalvo License #NC #307512

    Listing office Franklin Street - Corporate

    Listing date Apr 16, 2026

    Source Franklinst

    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 Franklin Street - Corporate

    HighLights

    • Significant expansion potential on a large 20.57‑acre parcel.
    • Strong cash flow opportunity through rent increases with high occupancy.
    • Diverse income streams: climate‑controlled units, non‑climate units, commercial spaces, and outdoor parking.
    • Favorable demographics: large population and strong average household income within a 5‑mile radius.
    • Healthy population growth and new housing development indicate increasing demand.
    • On‑site manager apartment provides convenient operational oversight.

    Overview

    This cash-flowing self-storage facility is located in Greenville, North Carolina, approximately 70 miles east of Raleigh. The facility is comprised of 127 climate-controlled units totaling 14,700 net rentable square feet, 398 non-climate units totaling 59,582 net rentable square feet, and two commercial spaces totaling 1,292 net rentable square feet. Additionally, there are 26 outdoor parking rentals. Situated on a 20.57-acre parcel, the property offers ample room for future expansion and additional outdoor parking rentals. The facility is currently operated by an on-site manager living in an apartment adjacent to the leasing office. Strong occupancy allows for the opportunity to increase revenue through the implementation of existing customer rent increases. The surrounding area has strong demographics, featuring a population of 90,129 residents and an average household income of $80,192 within five miles of the property. Healthy population growth is evidenced by 1.4% annual growth and 4,388 projected new housing units in development within five miles of the property. Greenville is home to East Carolina University, which boasts an enrollment of 27,153 students. The Greenville MSA is the 12th largest in the state of North Carolina and is home to 175,119 residents.

    Local Financial Insights For Self Storage

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $1.09M $14.40
    − Vacancy −$76.2k −$1.01
    EGI $1.01M $13.39
    − OpEx −$303.6k −$4.02
    NOI $708.5k $9.37
    75,574 SF · lease $14.40/SF/yr · vacancy 7.00% · expense 30.00%

    Alternative Uses

    Best Use
    Self Storage
    $10.12M
    $8.86M – $11.81M (±1% cap)
    NOI $708,461 @ 7.0% cap · market cap 8.39%
    Second Best
    Industrial
    $6.68M
    $5.84M – $7.79M (±1% cap)
    NOI $467,406 @ 7.0% cap · market cap 5.53%
    Theoretical Best
    Office A
    $16.45M
    $14.40M – $19.19M (±1% cap)
    NOI $1,151,603 @ 7.0% cap · market cap 13.64%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    U-Haul Neighborhood Dealer Car Rental Facility Hair Design Barber Shop

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.433873
    Latitude
    35.581973

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    FAQs

    What type of property is this?
    Self storage facility - Cash-flowing self-storage facility with expansion potential in Greenville, NC.
    Where is this self storage facility located?
    The property is located at 2088 Allen Road A Greenville, NC.
    What is the asking price?
    The asking price for this property is $8,445,000.
    What are key features of this property?
    This property features: Significant expansion potential on a large 20.57‑acre parcel.; Strong cash flow opportunity through rent increases with high occupancy.; Diverse income streams: climate‑controlled units, non‑climate units, commercial spaces, and outdoor parking.
    (813) 793-8488
    We can help!
    Listing Contact
    Frank DeSalvo
    Frank DeSalvo
    Real Estate License ID: NC #307512
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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