Lexington Storage Facility Investment
For Sale
Contact for pricing
Pending
150 N Talbert Blvd, Lexington, NC 27292
Storage facility with climate-controlled units in Lexington, North Carolina.
Property Size90,000 SF
Days on Market161
Property Features for 150 N Talbert Blvd
General Information
Standard status
Pending
Size
90,000 SF
Property subtype
Self Storage
Lease Type
Gross
Building Details
Tenancy
Multi
Listing Agency:
Superior Capital Advisors
Listed By:
Michael Morrison · License #AL 106088
Source:
Crexi
Added: Mar 13
Changed: Aug 8
Last Checked: Jul 24 at 12:15PM
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 Superior Capital Advisors
Investment Insights
Based on property information with market context.
Located at 150 N Talbert Blvd, Lexington, NC, this storage facility known as Storage Doctor features a total of 559 units, encompassing 71,225 rentable square feet. The unit mix includes 532 climate-controlled units and 27 drive-up units. The property is situated in Lexington, North Carolina, and presents an investment opportunity within a growing market. The facility currently has a 35% occupancy rate. The property offers a range of storage options, with a focus on secure and modern storage solutions. The availability of climate-controlled units distinguishes this facility in the market. The layout is designed for efficiency and customer satisfaction.
Key Highlights
- 532 climate‑controlled units, a scarce and desirable feature.
- Located in the flourishing market of Lexington, NC, indicating growth potential.
- 559 units total within 71,225 rentable 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
$764,225
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
8.04%
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%
$15,284,500
$15.3M
Cap Rate 7%
$10,917,500
$10.9M
Cap Rate 9%
$8,491,389
$8.5M
Market Conditions
NOI Build-Up for 90,000 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
$1.17M $12.96/SF
− Vacancy
−$74.6K −$0.83/SF
EGI
$1.09M $12.13/SF
− OpEx
−$327.5K −$3.64/SF
NOI
$764.2K $8.49/SF
Area
Davidson County, NC
Vacancy
6.40%
Lease Rate
$12.96 /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%
$15,284,500
Cap Rate 7%
$10,917,500
Cap Rate 9%
$8,491,389
Alternative Uses
Best Use
Self Storage
$10.92M
$9.55M – $12.74M
NOI $764,225 @ 7.0% cap · market cap 8.04%
Second Best
Industrial
$7.46M
$6.53M – $8.70M
NOI $522,207 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$22.83M
$19.98M – $26.64M
NOI $1,598,400 @ 7.0% cap · market cap 16.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Explore this area
Business Placement
Demographics for 27292, NC
39,337
Population
18,749
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
85%
High-School Grad
144.0 sq mi
ZIP Area
273
Density / Sq Mi
$54,468
Median Household Income
$34,776
Median Earnings
$831
Median Rent
$193,300
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 facility with climate-controlled units in Lexington, North Carolina.
Where is this self storage facility located?
The property is located at 150 N Talbert Blvd Lexington, NC.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: 532 climate‑controlled units, a scarce and desirable feature.; Located in the flourishing market of Lexington, NC, indicating growth potential.; 559 units total within 71,225 rentable square feet.
