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: Oct 15 Last Checked: Oct 16 at 5:53AM

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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

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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.

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 / Yr

$136,189

Cap Rate

4.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,723,780 $2.7M

Cap Rate 7%

$1,945,557 $1.9M

Cap Rate 9%

$1,513,211 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 34,970 SF

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 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 (±1% cap)

NOI $283,761 @ 7.0% cap · market cap 9.37%

Second Best

Warehouse

$1.95M

$1.70M – $2.27M (±1% cap)

NOI $136,189 @ 7.0% cap · market cap 4.49%

Theoretical Best

Office A

$5.28M

$4.62M – $6.16M (±1% cap)

NOI $369,468 @ 7.0% cap · market cap 12.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Self storage facilities

Suggested Use

Top Pick Law Firm Dental Office Real Estate Agency Spa & Massage Center Nail Salon Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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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