Climate-Controlled Self-Storage
For Sale
Contact for pricing
1623 Way Street, Reidsville, NC 27320
Renovation and value-add opportunity featuring 490 climate-controlled units and 10 parking spaces in Reidsville, NC.
Property Size57,038 SF
Lot Size8.10 Acres
Price / SF$118.34
Days on Market182
Property Features for 1623 Way Street
General Information
Standard status
Active
Size
57,038 SF
Total Parking Spaces
10
Lot size
8.10 Acres
Property subtype
Self Storage
Occupancy
73%
Amenities
climate-controlled storage
Building Details
Year Built
1972
Year Renovated
2022
Tenancy
Multi
Listing Agency:
Lindsey Self Storage
Listed By:
Matthew Rosendale · License #SC 130383
Source:
Crexi
Added: Apr 22
Changed: Oct 8
Last Checked: Oct 19 at 7:11AM
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 Lindsey Self Storage
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Investment Insights
Based on property information with market context.
Lindsey Self Storage Group presents a renovation opportunity for City Storage - Reidsville. The facility totals 57,038 NRSF with 490 rentable units and 10 parking spaces, built around climate-controlled storage. The property also benefits from a comprehensive 2022 conversion and modernized infrastructure. Current physical occupancy is 73%, providing a basis for future revenue growth through lease-up and adjustments to in-place rents.
Set on an expansive 8.1-acre parcel at 1623 Way Street in Reidsville, North Carolina, the site includes excess land that may support future footprint expansion. The property’s climate-controlled offering is supported by existing demand, and the seller’s materials also cite a projected Year 1 Net Operating Income of $453,886.
Overall, this is a sizable self-storage asset with a modern, climate-controlled configuration, recent infrastructure updates, and room to improve operating performance.
Set on an expansive 8.1-acre parcel at 1623 Way Street in Reidsville, North Carolina, the site includes excess land that may support future footprint expansion. The property’s climate-controlled offering is supported by existing demand, and the seller’s materials also cite a projected Year 1 Net Operating Income of $453,886.
Overall, this is a sizable self-storage asset with a modern, climate-controlled configuration, recent infrastructure updates, and room to improve operating performance.
Key Highlights
- Storage facility built in 1972 with 57,038 NRSF and 490 rentable units
- Climate‑controlled storage asset with 73% physical occupancy
- 2022 conversion with modernized infrastructure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$546,196
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,923,920
$10.9M
Cap Rate 7%
$7,802,800
$7.8M
Cap Rate 9%
$6,068,844
$6.1M
Market Conditions
NOI Build-Up for 57,038 SF
Gross rent
$821.3K $14.40/SF
− Vacancy
−$41.1K −$0.72/SF
EGI
$780.3K $13.68/SF
− OpEx
−$234.1K −$4.10/SF
NOI
$546.2K $9.58/SF
Area
Rockingham County, NC
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,923,920
Cap Rate 7%
$7,802,800
Cap Rate 9%
$6,068,844
Alternative Uses
Best Use
Self Storage
$7.80M
$6.83M – $9.10M
NOI $546,196 @ 7.0% cap · market cap 8.09%
Second Best
Warehouse
$6.12M
$5.35M – $7.14M
NOI $428,359 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$18.81M
$16.45M – $21.94M
NOI $1,316,367 @ 7.0% cap · market cap 19.50%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
73%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Explore this area
Business Placement
Demographics for 27320, NC
37,843
Population
17,876
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
85%
High-School Grad
244.9 sq mi
ZIP Area
155
Density / Sq Mi
$55,491
Median Household Income
$37,258
Median Earnings
$776
Median Rent
$170,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Self storage facility - Renovation and value-add opportunity featuring 490 climate-controlled units and 10 parking spaces in Reidsville, NC.
Where is this self storage facility located?
The property is located at 1623 Way Street Reidsville, NC.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: Storage facility built in 1972 with 57,038 NRSF and 490 rentable units; Climate‑controlled storage asset with 73% physical occupancy; 2022 conversion with modernized infrastructure
