207-Unit Climate-Controlled Storage
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For Sale
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220 S Eastern Blvd, Fayetteville, NC 28301
Climate-controlled storage facility with established improvements dating to 1962.
Property Size40,938 SF
Price / SF$112.37
Days on Market7
Property Features for 220 S Eastern Blvd
General Information
Standard status
Active
Size
40,938 SF
Total Parking Spaces
40
Property subtype
Self Storage
Zoning
Yes
Occupancy
61%
Investment Type
Value Add
Net Operating Income
$144,993
Additional Details
Self-Storage Units
207
Building Details
Year Built
1962
Year Renovated
2021
Buildings
4
Stories
2
Units
207
Listing Agency:
Franklin Street Tampa
Listed By:
David Perlleshi · License #FL 333662
Source:
Crexi
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 8:20PM
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 Tampa
Investment Insights
Based on property information with market context.
This self-storage property contains 207 units within 40,938 NRSF of facility area. The climate-controlled configuration provides a defined storage product supported by a substantial unit count and dedicated improvements.
Constructed in 1962, the property is located at 220 S Eastern Blvd in Fayetteville, North Carolina. Its established building footprint and storage-specific layout distinguish the asset from general-purpose commercial space.
The property is offered as a self-storage facility and combines climate-controlled accommodations with an existing operating structure suitable for continued storage use.
Constructed in 1962, the property is located at 220 S Eastern Blvd in Fayetteville, North Carolina. Its established building footprint and storage-specific layout distinguish the asset from general-purpose commercial space.
The property is offered as a self-storage facility and combines climate-controlled accommodations with an existing operating structure suitable for continued storage use.
Key Highlights
- 207 storage units
- 40,938 NRSF of facility area
- Climate‑controlled storage configuration
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
$348,006
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
7.57%
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%
$6,960,120
$7.0M
Cap Rate 7%
$4,971,514
$5.0M
Cap Rate 9%
$3,866,733
$3.9M
Market Conditions
NOI Build-Up for 40,938 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
$540.4K $13.20/SF
− Vacancy
−$43.2K −$1.06/SF
EGI
$497.2K $12.14/SF
− OpEx
−$149.1K −$3.64/SF
NOI
$348.0K $8.50/SF
Area
Fayetteville, NC
Vacancy
8.00%
Lease Rate
$13.20 /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%
$6,960,120
Cap Rate 7%
$4,971,514
Cap Rate 9%
$3,866,733
Alternative Uses
Best Use
Warehouse
$6.67M
$5.84M – $7.78M
NOI $467,008 @ 7.0% cap · market cap 10.15%
Second Best
Self Storage
$4.97M
$4.35M – $5.80M
NOI $348,006 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$8.97M
$7.85M – $10.47M
NOI $628,022 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
Explore this area
Business Placement
Demographics for 28301, NC
17,670
Population
8,590
Households
2.1
Avg Household Size
35
Median Age
17%
College-Educated
88%
High-School Grad
12.4 sq mi
ZIP Area
1,425
Density / Sq Mi
$36,955
Median Household Income
$28,350
Median Earnings
$926
Median Rent
$109,900
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 - Climate-controlled storage facility with established improvements dating to 1962.
Where is this self storage facility located?
The property is located at 220 S Eastern Blvd Fayetteville, NC.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: 207 storage units; 40,938 NRSF of facility area; Climate‑controlled storage configuration
