RV Storage Facility with
For Sale
Contact for pricing
2919 US-54, Andover, KS 67002
RV storage facility near Wichita with expansion potential.
Property Size19,200 SF
Lot Size12.10 Acres
Price / SF$67.71
Days on Market156
Property Features for 2919 US-54
General Information
Standard status
Active
Size
19,200 SF
Lot size
12.10 Acres
Property subtype
Industrial
Zoning
Conditional Use Permit
Building Details
Year Built
2023
Buildings
5
Units
40
Tenancy
Multi
Listing Agency:
McCurdy Real Estate & Auction, LLC
(316) 683-0612
Listed By:
Braden McCurdy · License #KS BR00052737
Source:
Crexi
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 8 at 2:55PM
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 McCurdy Real Estate & Auction, LLC
Investment Insights
Based on property information with market context.
This 12.1-acre RV storage facility, located just east of Andover, KS, near Wichita, presents an investment opportunity with expansion potential. Constructed in 2023, the property features five metal storage buildings, each containing 8 covered spaces measuring 12x40, totaling 40 covered units suitable for RVs, campers, boats, work trucks, and trailers. The buildings have gravel floors, sidewall heights of 16 ft+, and ceiling clearance suitable for virtually any size RV. Additional uncovered storage spaces include a combination of gravel and concrete parking areas. The property is fully fenced with two electric security gates and lighting throughout. Approximately 4 acres are currently developed, leaving nearly 75% of the property available for future expansion or redevelopment. At full buildout, the site could accommodate 400+ RV storage spaces. Tenants have the option to purchase personal property insurance either through a private carrier or directly through the owner. The gross annual rent for 2025 was $57,891 and is still climbing, as this is a new business. The property has major highway frontage and visibility.
Key Highlights
- Significant expansion potential: Approximately 75% of the 12.1± acre property is undeveloped, allowing for future expansion.
- High‑visibility location on major highway frontage near Andover, KS, and Wichita.
- New construction: Built in 2023, the property features modern metal storage buildings.
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
$115,154
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
8.86%
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%
$2,303,080
$2.3M
Cap Rate 7%
$1,645,057
$1.6M
Cap Rate 9%
$1,279,489
$1.3M
Market Conditions
NOI Build-Up for 19,200 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
$172.8K $9.00/SF
− Vacancy
−$8.3K −$0.43/SF
EGI
$164.5K $8.57/SF
− OpEx
−$49.4K −$2.57/SF
NOI
$115.2K $6.00/SF
Area
Butler County, KS
Vacancy
4.80%
Lease Rate
$9.00 /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%
$2,303,080
Cap Rate 7%
$1,645,057
Cap Rate 9%
$1,279,489
Alternative Uses
Best Use
Self Storage
$2.36M
$2.06M – $2.75M
NOI $164,989 @ 7.0% cap · market cap 12.69%
Second Best
Industrial
$1.65M
$1.44M – $1.92M
NOI $115,154 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$4.08M
$3.57M – $4.76M
NOI $285,327 @ 7.0% cap · market cap 21.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Explore this area
Business Placement
Demographics for 67002, KS
16,518
Population
6,006
Households
2.8
Avg Household Size
35
Median Age
50%
College-Educated
97%
High-School Grad
37.5 sq mi
ZIP Area
440
Density / Sq Mi
$105,625
Median Household Income
$53,432
Median Earnings
$1,492
Median Rent
$272,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - RV storage facility near Wichita with expansion potential.
Where is this self storage facility located?
The property is located at 2919 US-54 Andover, KS.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Significant expansion potential: Approximately 75% of the 12.1± acre property is undeveloped, allowing for future expansion.; High‑visibility location on major highway frontage near Andover, KS, and Wichita.; New construction: Built in 2023, the property features modern metal storage buildings.
