Self-Storage Property with 40
For Sale
$415,000
321 W Oak St, Amite, LA 70422
Multiple storage buildings and a commercial building support three current leases in Amite’s business district.
Property Size3,302 SF
Lot Size0.50 Acres
Price / SF$125.68
Days on Market34
Property Features for 321 W Oak St
General Information
Standard status
Active
Size
3,302 SF
Lot size
0.50 Acres
Additional Details
Highway Access
Yes
Self-Storage Units
40
Building Details
Year Built
1984
Listing Agency:
K Company Realty
(985) 517-6311
Listed By:
Kimberly Doughty
Source:
Fiorellaavenue
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 25 at 4:35AM
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 K Company Realty
Investment Insights
Based on property information with market context.
This self-storage property includes 40 units distributed among multiple storage buildings, along with a main commercial building. The storage units have brand-new doors, while the primary building has a new roof. The property has also undergone numerous upgrades within the last two years.
Positioned at 321 W Oak St in Amite, the site is approximately half an acre and is outside a flood zone. Three current leases are in place. The surrounding business district includes banks, grocery stores, Walmart, restaurants, and other national businesses, with Interstate 55 only minutes away. The property was built in 1984 and combines storage facilities with an additional commercial building on the site.
Positioned at 321 W Oak St in Amite, the site is approximately half an acre and is outside a flood zone. Three current leases are in place. The surrounding business district includes banks, grocery stores, Walmart, restaurants, and other national businesses, with Interstate 55 only minutes away. The property was built in 1984 and combines storage facilities with an additional commercial building on the site.
Key Highlights
- 40 storage units across multiple storage buildings
- Three current leases in place
- Brand‑new doors installed on the storage units
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
$19,666
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
4.74%
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%
$393,320
$393.3K
Cap Rate 7%
$280,943
$280.9K
Cap Rate 9%
$218,511
$218.5K
Market Conditions
NOI Build-Up for 3,302 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
$30.9K $9.36/SF
− Vacancy
−$2.8K −$0.85/SF
EGI
$28.1K $8.51/SF
− OpEx
−$8.4K −$2.55/SF
NOI
$19.7K $5.96/SF
Area
Tangipahoa County, LA
Vacancy
9.10%
Lease Rate
$9.36 /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%
$393,320
Cap Rate 7%
$280,943
Cap Rate 9%
$218,511
Alternative Uses
Best Use
Self Storage
$280.9K
$245.8K – $327.8K
NOI $19,666 @ 7.0% cap · market cap 4.74%
Second Best
Warehouse
$230.7K
$201.9K – $269.1K
NOI $16,148 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$910.2K
$796.5K – $1.06M
NOI $63,717 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Explore this area
Business Placement
Demographics for 70422, LA
13,863
Population
6,204
Households
2.2
Avg Household Size
40
Median Age
21%
College-Educated
84%
High-School Grad
157.5 sq mi
ZIP Area
88
Density / Sq Mi
$50,412
Median Household Income
$36,534
Median Earnings
$844
Median Rent
$169,900
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 - Multiple storage buildings and a commercial building support three current leases in Amite’s business district.
Where is this self storage facility located?
The property is located at 321 W Oak St Amite, LA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 40 storage units across multiple storage buildings; Three current leases in place; Brand‑new doors installed on the storage units
