Self-Storage Facility with Climate
2209 Richard St. Abbeville, LA 70510
For Sale
Contact for pricing
Facility offers non-climate storage, an apartment, and a warehouse conversion to 67 climate-controlled units.
Property Size22,100 SF
Price / SF$67.87
Days on Market91
Property Features for 2209 Richard St.
General Information
Standard status
Active
Size
22,100 SF
Property subtype
INDUSTRIAL
Listing Agency:
SVN Wilson Commercial
(614) 944-5140
Listed By:
Doug Wilson · License #000087782
(614) 944-5140
Source:
Moodyscre
Added: May 1
Changed: Jul 25
Last Checked: Jul 29 at 3:01PM
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 SVN Wilson Commercial
Investment Insights
Based on property information with market context.
Simple Storage Abbeville is a value-add self-storage facility with 12,400 NRSF of non-climate storage, a 1,500 SF apartment, and a brand new 8,200 SF warehouse conversion designed for climate-controlled storage. The conversion totals 67 climate-control units.
The property is described as a prime retail location situated between Walgreens, Eastridge Nursing Home, and Oakleigh Apartments, supporting an existing tenant base. Per the seller’s remarks, leasing activity is currently running at a 5–10% monthly rate. The listing also cites a low self-storage supply rate of 6.7 SF/capita within a 5-mile radius.
The property is described as a prime retail location situated between Walgreens, Eastridge Nursing Home, and Oakleigh Apartments, supporting an existing tenant base. Per the seller’s remarks, leasing activity is currently running at a 5–10% monthly rate. The listing also cites a low self-storage supply rate of 6.7 SF/capita within a 5-mile radius.
Key Highlights
- Value‑add self‑storage facility with 12,400 NRSF of non‑climate storage
- Warehouse conversion to 67 climate‑controlled units (brand new conversion, 8,200 SF)
- Includes a 1,500 SF apartment on‑site
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $156.5k | $7.08 |
| − Vacancy | −$7.5k | −$0.34 |
| EGI | $149.0k | $6.74 |
| − OpEx | −$22.3k | −$1.01 |
| NOI | $126.6k | $5.73 |
22,100 SF · lease $7.08/SF/yr · vacancy 4.80% · expense 15.00%
Alternative Uses
Best Use
Self Storage
$2.39M
$2.09M – $2.78M
NOI $167,076 @ 7.0% cap · market cap 11.14%
Second Best
Warehouse
$1.81M
$1.58M – $2.11M
NOI $126,614 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$5.23M
$4.57M – $6.10M
NOI $365,764 @ 7.0% cap · market cap 24.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Self storage facility - Facility offers non-climate storage, an apartment, and a warehouse conversion to 67 climate-controlled units.
Where is this self storage facility located?
The property is located at 2209 Richard St. Abbeville, LA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Value‑add self‑storage facility with 12,400 NRSF of non‑climate storage; Warehouse conversion to 67 climate‑controlled units (brand new conversion, 8,200 SF); Includes a 1,500 SF apartment on‑site
