Self Storage Facility With Rental
For Sale
$374,900
160 Hickman Road NW, Calabash, NC 28467
Commercially zoned storage property includes a rental residence and additional land with utility service already established.
Property Size1,231 SF
Lot Size2.25 Acres
Price / SF$304.55
Days on Market23
Property Features for 160 Hickman Road NW
General Information
Standard status
Active
Size
1,231 SF
Lot size
2.25 Acres
Property subtype
Commercial
Zoning
COCLD
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Building Details
Building Size
1,231 SF
Year Built
1969
Listing Agency:
Chicora Advantage, LLC dba Coldwell Banker Sea Coast Advantage
(843) 467-6308
Listed By:
Kenny E Sherman · License #312402
(843) 467-6308
Source:
Frankerealproperties
Added: Jul 29
Changed: Aug 18
Last Checked: Aug 20 at 3:05PM
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 storage-oriented commercial property encompasses 2.25 acres and includes a rental home. The site is commercially zoned for storage under COCLD, with an additional 1.5 acres positioned behind the primary tract. Electric, water, and sewer are already in place across the property, supporting future development planning.
Located at 160 Hickman Road NW in Calabash, the property sits near Highway 17 and Brunswick Plantation. Sunset Beach and Cherry Grove Beach are also nearby, connecting the site with established coastal destinations and related recreational activity. The property was built in 1969.
Located at 160 Hickman Road NW in Calabash, the property sits near Highway 17 and Brunswick Plantation. Sunset Beach and Cherry Grove Beach are also nearby, connecting the site with established coastal destinations and related recreational activity. The property was built in 1969.
Key Highlights
- 2.25‑acre commercially zoned storage property
- Rental home included on the property
- Additional 1.5 acres at the rear
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
Mixed Use
$14.84M
$12.99M – $17.32M
NOI $1,039,092 @ 7.0% cap · market cap 277.17%
Second Best
Warehouse
$217.8K
$190.6K – $254.1K
NOI $15,246 @ 7.0% cap · market cap 4.07%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Commercially zoned storage property includes a rental residence and additional land with utility service already established.
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 commercially zoned storage property; Rental home included on the property; Additional 1.5 acres at the rear
