Self-Storage Property with Rental
For Sale
$374,900
160 Hickman Road NW, Calabash, NC 28467
Commercial Sale, Calabash, NC
Property Size1,231 SF
Lot Size2.25 Acres
Price / SF$304.55
Days on Market23
Property Features for 160 Hickman Road NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COCLD
Subdivision
Not In Subdivision
Directions
HWY 17 south from Shallotte take a right on Hwy 57 go a quarter mile property on right
Standard status
Active
APN
20900012
Size
1,231 SF
Lot size
2.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
20900012
Legal Description
20900012
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Electric (Heating)
Building Details
Year built
1969
Listing Agency:
Chicora Advantage, LLC dba Coldwell Banker Sea Coast Advantage
(843) 280-1232
Listed By:
Kenny E Sherman · License #312402
(843) 467-6308
Added: Jul 29
Changed: Aug 19
Last Checked: Aug 20 at 8:06PM
MLS# 100592629
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2.25-acre self-storage property includes a rental home measuring 1,231 square feet. The residence was built in 1969 and has electric heating, while the site is served by a septic tank and has water available. The property carries COCLD zoning, with the source information identifying commercial storage as a permitted purpose.
Located on Hickman Road NW in Calabash, the property sits just off Highway 17 and near Brunswick Plantation. Its existing residential component and storage-oriented zoning provide a combination of on-site improvements and commercial land use. The address is in Brunswick County, within reach of Sunset Beach and Cherry Grove Beach.
Located on Hickman Road NW in Calabash, the property sits just off Highway 17 and near Brunswick Plantation. Its existing residential component and storage-oriented zoning provide a combination of on-site improvements and commercial land use. The address is in Brunswick County, within reach of Sunset Beach and Cherry Grove Beach.
Key Highlights
- 2.25‑acre property identified for self‑storage use
- Includes a 1,231‑square‑foot rental home
- COCLD zoning supports commercial storage use
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
$15,246
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
4.07%
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%
$304,920
$304.9K
Cap Rate 7%
$217,800
$217.8K
Cap Rate 9%
$169,400
$169.4K
Market Conditions
NOI Build-Up for 1,231 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
$19.2K $15.60/SF
− Vacancy
−$1.3K −$1.03/SF
EGI
$17.9K $14.57/SF
− OpEx
−$2.7K −$2.19/SF
NOI
$15.2K $12.38/SF
Area
Brunswick County, NC
Vacancy
6.60%
Lease Rate
$15.60 /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%
$304,920
Cap Rate 7%
$217,800
Cap Rate 9%
$169,400
Alternative Uses
Best Use
Warehouse
$217.8K
$190.6K – $254.1K
NOI $15,246 @ 7.0% cap · market cap 4.07%
Second Best
Self Storage
$178.1K
$155.9K – $207.8K
NOI $12,468 @ 7.0% cap · market cap 3.33%
Theoretical Best
Multifamily LT 5
$15.07M
$13.19M – $17.59M
NOI $1,055,101 @ 7.0% cap · market cap 281.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 28467, NC
11,770
Population
8,098
Households
1.5
Avg Household Size
65
Median Age
31%
College-Educated
97%
High-School Grad
17.4 sq mi
ZIP Area
676
Density / Sq Mi
$72,840
Median Household Income
$38,909
Median Earnings
$1,346
Median Rent
$281,000
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 - Commercially zoned acreage includes a rental home, water availability, and septic service near Highway 17.
Where is this self storage facility located?
The property is located at 160 Hickman Road NW Calabash, NC.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: 2.25‑acre property identified for self‑storage use; Includes a 1,231‑square‑foot rental home; COCLD zoning supports commercial storage use
