251-Unit Self-Storage
For Sale
Contact for pricing
144 BW Thomas Dr, Fort Mill, SC 29708
Self-storage property includes dedicated outdoor parking spaces.
Property Size32,565 SF
Price / SF$158.15
Days on Market12
Property Features for 144 BW Thomas Dr
General Information
Standard status
Active
Size
32,565 SF
Total Parking Spaces
231
Property subtype
Self Storage
Occupancy
80%
Investment Type
Value Add
Net Operating Income
$218,313
Additional Details
Self-Storage Units
251
Building Details
Year Built
1998
Year Renovated
2008
Buildings
6
Stories
1
Units
251
Tenancy
Multi
Listing Agency:
Franklin Street Tampa
Listed By:
Frank DeSalvo · License #FL
Source:
Crexi
Added: Jul 27
Changed: Aug 5
Last Checked: Aug 5 at 7:14AM
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 Tampa
Investment Insights
Based on property information with market context.
This self-storage facility contains 32,565 square feet and was constructed in 1998. The property includes 251 storage units along with 231 outdoor parking spaces, providing both enclosed storage and exterior parking capacity.
Located at 144 BW Thomas Dr in Fort Mill, South Carolina, the property is positioned within the 29708 ZIP code and is offered for sale.
Located at 144 BW Thomas Dr in Fort Mill, South Carolina, the property is positioned within the 29708 ZIP code and is offered for sale.
Key Highlights
- 251 storage units
- 231 outdoor parking spaces
- 32,565 square feet
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
$353,770
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
6.87%
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%
$7,075,400
$7.1M
Cap Rate 7%
$5,053,857
$5.1M
Cap Rate 9%
$3,930,778
$3.9M
Market Conditions
NOI Build-Up for 32,565 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
$465.0K $14.28/SF
− Vacancy
−$48.8K −$1.50/SF
EGI
$416.2K $12.78/SF
− OpEx
−$62.4K −$1.92/SF
NOI
$353.8K $10.86/SF
Area
York County, SC
Vacancy
10.50%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
15.00%
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%
$7,075,400
Cap Rate 7%
$5,053,857
Cap Rate 9%
$3,930,778
Alternative Uses
Best Use
Warehouse
$5.05M
$4.42M – $5.90M
NOI $353,770 @ 7.0% cap · market cap 6.87%
Second Best
Self Storage
$4.00M
$3.50M – $4.66M
NOI $279,838 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$7.66M
$6.70M – $8.93M
NOI $536,059 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 29708, SC
40,227
Population
16,296
Households
2.5
Avg Household Size
38
Median Age
60%
College-Educated
97%
High-School Grad
19.0 sq mi
ZIP Area
2,117
Density / Sq Mi
$129,304
Median Household Income
$65,927
Median Earnings
$1,588
Median Rent
$479,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage property includes dedicated outdoor parking spaces.
Where is this self storage facility located?
The property is located at 144 BW Thomas Dr Fort Mill, SC.
What is the asking price?
The asking price for this property is $5,150,000.
What are key features of this property?
This property features: 251 storage units; 231 outdoor parking spaces; 32,565 square feet
