Self Storage Facility with Expansion
For Sale
$521,000
209 Queens Creek Rd, Swansboro, NC 28584
Non-climate storage units, outdoor parking, automated access, and management software support a streamlined operating setup.
Property Size6,000 SF
Lot Size0.97 Acres
Price / SF$86.83
Days on Market152
Property Features for 209 Queens Creek Rd
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
14
Lot size
0.97 Acres
Property subtype
Self Storage
Additional Details
Self-Storage Units
56
Amenities
Automatic Gate
Keypad Entry
Management Software
Building Details
Building Size
6,000 SF
Listing Agency:
Franklin Street - Corporate
(813) 995-6528
Listed By:
Josh Snead
Source:
Franklinst
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 29 at 5:49PM
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 Franklin Street - Corporate
Investment Insights
Based on property information with market context.
This self storage facility includes 56 non-climate units totaling 6,000 NRSF, along with 14 outdoor parking spaces. The property occupies 0.97 acres and includes room for future expansion or additional outdoor parking rentals. An automatic gate with keypad entry and management software are already in place, supporting remote operating capabilities.
The facility is located at 209 Queens Creek Rd in Swansboro, North Carolina. Within five miles, the population is 26,602 and is growing at 1.2% annually. Swansboro is situated along North Carolina’s southeastern coast, approximately 55 miles northeast of Wilmington, and is part of the Jacksonville MSA, which has 213,676 residents.
The facility is located at 209 Queens Creek Rd in Swansboro, North Carolina. Within five miles, the population is 26,602 and is growing at 1.2% annually. Swansboro is situated along North Carolina’s southeastern coast, approximately 55 miles northeast of Wilmington, and is part of the Jacksonville MSA, which has 213,676 residents.
Key Highlights
- 56 non‑climate storage units totaling 6,000 NRSF
- 14 outdoor parking spaces on a 0.97‑acre lot
- Room for future expansion or additional outdoor parking rentals
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
$38,216
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
7.34%
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%
$764,320
$764.3K
Cap Rate 7%
$545,943
$545.9K
Cap Rate 9%
$424,622
$424.6K
Market Conditions
NOI Build-Up for 6,000 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
$48.2K $8.04/SF
− Vacancy
−$3.3K −$0.55/SF
EGI
$45.0K $7.49/SF
− OpEx
−$6.7K −$1.12/SF
NOI
$38.2K $6.37/SF
Area
Onslow County, NC
Vacancy
6.80%
Lease Rate
$8.04 /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%
$764,320
Cap Rate 7%
$545,943
Cap Rate 9%
$424,622
Alternative Uses
Best Use
Self Storage
$734.8K
$643.0K – $857.3K
NOI $51,438 @ 7.0% cap · market cap 9.87%
Second Best
Warehouse
$545.9K
$477.7K – $636.9K
NOI $38,216 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,238 @ 7.0% cap · market cap 17.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 28584, NC
13,584
Population
7,550
Households
1.8
Avg Household Size
46
Median Age
32%
College-Educated
94%
High-School Grad
33.9 sq mi
ZIP Area
401
Density / Sq Mi
$81,574
Median Household Income
$48,944
Median Earnings
$1,300
Median Rent
$308,000
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 - Non-climate storage units, outdoor parking, automated access, and management software support a streamlined operating setup.
Where is this self storage facility located?
The property is located at 209 Queens Creek Rd Swansboro, NC.
What is the asking price?
The asking price for this property is $521,000.
What are key features of this property?
This property features: 56 non‑climate storage units totaling 6,000 NRSF; 14 outdoor parking spaces on a 0.97‑acre lot; Room for future expansion or additional outdoor parking rentals
