Building Details

Building Size 1,231 SF

Year Built 1969

Listing Agency: CHICORA ADVANTAGE, LLC DBA COLDWELL BANKER SEA COAST ADVANTAGE

Listed By: Kenny Sherman · License #80544 Show Phone

Source: Cbcworldwide

Added: Mar 27 Changed: Sep 13 Last Checked: Oct 11 at 3:02AM

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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 CHICORA ADVANTAGE, LLC DBA COLDWELL BANKER SEA COAST ADVANTAGE

Investment Insights

Based on property information with market context.

This commercially zoned property, situated on 2.25 acres, is currently operating as Hickman Rd Boat Storage. It includes a rental home that provides cash flow. An additional 1.5 acres at the rear of the property offer potential for further development. The property benefits from a location on Hickman Road, characterized by high traffic volume and visibility, and is positioned just off Highway 17 near Brunswick Plantation. Its location provides convenient access to Sunset Beach and Cherry Grove Beach, as well as local seafood vendors, watersports, live entertainment venues, and coastal amenities. The property contains 1,231 square feet.

Key Highlights

• Commercially zoned 2.25 acres ideal for boat storage
• Owner financing considered
• Rental home provides immediate cash flow

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,555

Cap Rate

3.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$251,100 $251.1K

Cap Rate 7%

$179,357 $179.4K

Cap Rate 9%

$139,500 $139.5K

Market Conditions

NOI Build-Up for 1,231 SF

Gross rent

$19.2K $15.60/SF

− Vacancy

−$1.3K −$1.03/SF

EGI

$17.9K $14.57/SF

− OpEx

−$5.4K −$4.37/SF

NOI

$12.6K $10.20/SF

Area

Brunswick County, NC

Vacancy

6.60%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$251,100

Cap Rate 7%

$179,357

Cap Rate 9%

$139,500

Alternative Uses

Best Use

Industrial

$179.4K

$156.9K – $209.3K (±1% cap)

NOI $12,555 @ 7.0% cap · market cap 3.35%

Second Best

Self Storage

$178.1K

$155.9K – $207.8K (±1% cap)

NOI $12,468 @ 7.0% cap · market cap 3.33%

Theoretical Best

Multifamily LT 5

$15.07M

$13.19M – $17.59M (±1% cap)

NOI $1,055,101 @ 7.0% cap · market cap 281.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Self storage facilities

Suggested Use

Top Pick Building Supply Auto Repair Shop Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

42

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Self storage facility - Commercially zoned storage facility with rental home and development potential.

Where is this self storage facility located?

The property is located at 160 Hickman Road North West Hickman Road Boat Storage 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: Commercially zoned 2.25 acres ideal for boat storage; Owner financing considered; Rental home provides immediate cash flow