Drive-Up Self-Storage
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For Sale
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217 Haseltine Road, Springfield, MO 65802
Light Industrial property includes RV and boat parking, along with three leased billboards.
Property Size34,970 SF
Price / SF$86.65
Days on Market6
Property Features for 217 Haseltine Road
General Information
Standard status
Active
Size
34,970 SF
Class
C
Property subtype
Self Storage
Zoning
Light Industrial
Occupancy
89%
Investment Type
Stabilized
Net Operating Income
$217,294
Building Details
Buildings
5
Stories
1
Units
289
Tenancy
Multi
Listing Agency:
Grandstone Investment Sales
Listed By:
Meir Perlmuter · License #BK3443325
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Sep 1 at 4:24AM
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 Grandstone Investment Sales
Investment Insights
Based on property information with market context.
Best West RV and Mini Storage is a self-storage property at 217 Haseltine Road in Springfield, Missouri. The facility contains 289 units and 34,970 net rentable square feet, including 215 drive-up storage units and 74 uncovered spaces for RV and boat parking. The property is zoned Light Industrial.
Physical occupancy is 89.3%, while economic occupancy is 88.99%. Three billboards are leased on the property. A 27-unit section is currently offline and is not included in the in-place operating income. The underwriting reflects a 7.17% going-in capitalization rate and a 7.83% Year 1 cap rate. The asset is situated within the Springfield, MO MSA in Greene County.
Physical occupancy is 89.3%, while economic occupancy is 88.99%. Three billboards are leased on the property. A 27-unit section is currently offline and is not included in the in-place operating income. The underwriting reflects a 7.17% going-in capitalization rate and a 7.83% Year 1 cap rate. The asset is situated within the Springfield, MO MSA in Greene County.
Key Highlights
- 289 units totaling 34,970 net rentable square feet
- 215 drive‑up storage units and 74 uncovered RV/boat parking spaces
- 89.3% physically occupied and 88.99% economically occupied
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
$136,189
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
4.49%
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%
$2,723,780
$2.7M
Cap Rate 7%
$1,945,557
$1.9M
Cap Rate 9%
$1,513,211
$1.5M
Market Conditions
NOI Build-Up for 34,970 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
$163.7K $4.68/SF
− Vacancy
−$3.4K −$0.10/SF
EGI
$160.2K $4.58/SF
− OpEx
−$24.0K −$0.69/SF
NOI
$136.2K $3.89/SF
Area
Springfield, MO
Vacancy
2.10%
Lease Rate
$4.68 /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%
$2,723,780
Cap Rate 7%
$1,945,557
Cap Rate 9%
$1,513,211
Alternative Uses
Best Use
Self Storage
$4.05M
$3.55M – $4.73M
NOI $283,761 @ 7.0% cap · market cap 9.37%
Second Best
Warehouse
$1.95M
$1.70M – $2.27M
NOI $136,189 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,468 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
Explore this area
Business Placement
Demographics for 65802, MO
48,233
Population
20,199
Households
2.4
Avg Household Size
35
Median Age
26%
College-Educated
89%
High-School Grad
61.4 sq mi
ZIP Area
786
Density / Sq Mi
$51,080
Median Household Income
$34,298
Median Earnings
$900
Median Rent
$162,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Light Industrial property includes RV and boat parking, along with three leased billboards.
Where is this self storage facility located?
The property is located at 217 Haseltine Road Springfield, MO.
What is the asking price?
The asking price for this property is $3,030,000.
What are key features of this property?
This property features: 289 units totaling 34,970 net rentable square feet; 215 drive‑up storage units and 74 uncovered RV/boat parking spaces; 89.3% physically occupied and 88.99% economically occupied
