Self-Storage Facility with Contactless
For Sale
$3,300,000
2359 Old Russellville Pike, Clarksville, TN 37040
Established facility supported by electronic entry, video monitoring, and digital rental administration.
Property Size34,800 SF
Days on Market50
Property Features for 2359 Old Russellville Pike
General Information
Standard status
Active
Size
34,800 SF
Property subtype
Self Storage
Amenities
online rentals
electronic gate access
video surveillance
online account management
Building Details
Building Size
34,800 SF
Listing Agency:
Sands Investment Group
Listed By:
Justin Wiesehan · License #NC #338269
(704) 236-6787
Source:
Lee-associates
Added: Aug 14
Changed: Sep 26
Last Checked: Oct 1 at 8:12AM
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 Sands Investment Group
Investment Insights
Based on property information with market context.
Cherry Station Self-Storage is an established 34,800-square-foot self-storage facility at 2359 Old Russellville Pike in Clarksville, Tennessee. The property operates through a largely self-service model designed to handle rentals and customer activity with limited on-site interaction.
Operational features include online rental capability, electronic gate access, video surveillance, and web-based account management. Together, these systems provide the existing property with a technology-supported operating platform for self-storage customers.
Operational features include online rental capability, electronic gate access, video surveillance, and web-based account management. Together, these systems provide the existing property with a technology-supported operating platform for self-storage customers.
Key Highlights
- 34,800‑square‑foot self‑storage facility
- Established self‑storage asset at 2359 Old Russellville Pike, Clarksville, TN 37040
- Largely self‑service operating model
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
$295,828
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
8.96%
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%
$5,916,560
$5.9M
Cap Rate 7%
$4,226,114
$4.2M
Cap Rate 9%
$3,286,978
$3.3M
Market Conditions
NOI Build-Up for 34,800 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
$459.4K $13.20/SF
− Vacancy
−$36.7K −$1.06/SF
EGI
$422.6K $12.14/SF
− OpEx
−$126.8K −$3.64/SF
NOI
$295.8K $8.50/SF
Area
Clarksville, TN
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%
$5,916,560
Cap Rate 7%
$4,226,114
Cap Rate 9%
$3,286,978
Alternative Uses
Best Use
Self Storage
$4.23M
$3.70M – $4.93M
NOI $295,828 @ 7.0% cap · market cap 8.96%
Second Best
Warehouse
$3.54M
$3.10M – $4.14M
NOI $248,117 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$5.84M
$5.11M – $6.82M
NOI $408,914 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
990
Businesses Nearby
Explore this area
Business Placement
Demographics for 37040, TN
60,382
Population
24,628
Households
2.5
Avg Household Size
31
Median Age
30%
College-Educated
94%
High-School Grad
92.8 sq mi
ZIP Area
651
Density / Sq Mi
$65,331
Median Household Income
$40,621
Median Earnings
$1,177
Median Rent
$242,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Established facility supported by electronic entry, video monitoring, and digital rental administration.
Where is this self storage facility located?
The property is located at 2359 Old Russellville Pike Clarksville, TN.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 34,800‑square‑foot self‑storage facility; Established self‑storage asset at 2359 Old Russellville Pike, Clarksville, TN 37040; Largely self‑service operating model
