Susanville Self-Storage Facility For
For Sale
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1655 Paul Bunyan Rd, Susanville, CA 96130
29,070 SF self-storage facility in Susanville, California.
Property Size29,070 SF
Price / SF$77.40
Days on Market175
Property Features for 1655 Paul Bunyan Rd
General Information
Standard status
Active
Size
29,070 SF
Property subtype
Self Storage
Occupancy
84%
Investment Type
Stabilized
Net Operating Income
$146,519
Building Details
Year Built
1996
Buildings
10
Stories
1
Units
238
Listing Agency:
Marcus & Millichap - Sacramento
Listed By:
Andrew Kuchugurny · License #02143134
Source:
Crexi
Added: Feb 18
Changed: Aug 8
Last Checked: Jul 31 at 6:32AM
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 Marcus & Millichap - Sacramento
Investment Insights
Based on property information with market context.
The property at Bunyan Road Security Storage is a 29,070 square foot self-storage facility constructed in 1996 and located in Susanville, California. The property is in strong physical condition. The facility benefits from limited new development, consistent local demand, and a stable tenant base driven by residential, military, and small business users. The property also features a fully remodeled two-bedroom, one-bathroom manager’s home and is staffed with an on-site manager. Recent renovations to the home include a new roof, exterior paint, deck, and updated interior and appliances. The facility serves the surrounding rural communities of Lassen County. It is well positioned for an investor seeking durable operations, value-add potential, and long-term ownership.
Key Highlights
- Value‑add potential through market‑rate rental increases and improved occupancy.
- Stable tenant base supported by residential, military, and small business users in a market with limited new development.
- Meticulously maintained 29,070 SF self‑storage facility built in 1996, in strong physical condition.
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
$170,687
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
7.59%
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%
$3,413,740
$3.4M
Cap Rate 7%
$2,438,386
$2.4M
Cap Rate 9%
$1,896,522
$1.9M
Market Conditions
NOI Build-Up for 29,070 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
$261.6K $9.00/SF
− Vacancy
−$17.8K −$0.61/SF
EGI
$243.8K $8.39/SF
− OpEx
−$73.2K −$2.52/SF
NOI
$170.7K $5.87/SF
Area
Lassen County, CA
Vacancy
6.80%
Lease Rate
$9.00 /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%
$3,413,740
Cap Rate 7%
$2,438,386
Cap Rate 9%
$1,896,522
Alternative Uses
Best Use
Self Storage
$3.14M
$2.75M – $3.66M
NOI $219,769 @ 7.0% cap · market cap 9.77%
Second Best
Industrial
$2.44M
$2.13M – $2.84M
NOI $170,687 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$7.97M
$6.98M – $9.30M
NOI $558,144 @ 7.0% cap · market cap 24.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Explore this area
Business Placement
Demographics for 96130, CA
22,121
Population
7,193
Households
3.1
Avg Household Size
36
Median Age
12%
College-Educated
77%
High-School Grad
499.9 sq mi
ZIP Area
44
Density / Sq Mi
$71,125
Median Household Income
$41,962
Median Earnings
$982
Median Rent
$258,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - 29,070 SF self-storage facility in Susanville, California.
Where is this self storage facility located?
The property is located at 1655 Paul Bunyan Rd Susanville, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Value‑add potential through market‑rate rental increases and improved occupancy.; Stable tenant base supported by residential, military, and small business users in a market with limited new development.; Meticulously maintained 29,070 SF self‑storage facility built in 1996, in strong physical condition.
