Building Details

Building Size 9,100 SF

Year Built 1997

Units 83

Listing Agency: SVN | Miller Commercial Real Estate

Listed By: Meredith M. Mears · License ##RS-0037916 Show Phone

Source: Commercialcafe

Added: Aug 16 Changed: Oct 4 Last Checked: Oct 4 at 7:00AM

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Investment Insights

Based on property information with market context.

This self-storage facility was constructed in 1997 and is located at 33243 Old Ocean City Road in Parsonsburg, Maryland. The property is in an area rated 26 for bikeability and 30 for walkability, with the latter classified as car-dependent.

Key Highlights

• Self‑storage facility built in 1997
• Located at 33243 Old Ocean City Rd, Parsonsburg, MD 21849
• BikeScore: 26, Somewhat Bikeable

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$78,198

Cap Rate

7.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,563,960 $1.6M

Cap Rate 7%

$1,117,114 $1.1M

Cap Rate 9%

$868,867 $868.9K

Market Conditions

NOI Build-Up for 9,100 SF

Gross rent

$120.1K $13.20/SF

− Vacancy

−$8.4K −$0.92/SF

EGI

$111.7K $12.28/SF

− OpEx

−$33.5K −$3.68/SF

NOI

$78.2K $8.59/SF

Area

Wicomico County, MD

Vacancy

7.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,563,960

Cap Rate 7%

$1,117,114

Cap Rate 9%

$868,867

Alternative Uses

Best Use

Self Storage

$1.12M

$977.5K – $1.30M (±1% cap)

NOI $78,198 @ 7.0% cap · market cap 7.86%

Second Best

Warehouse

$840.0K

$735.0K – $980.0K (±1% cap)

NOI $58,801 @ 7.0% cap · market cap 5.91%

Theoretical Best

Office A

$3.18M

$2.79M – $3.71M (±1% cap)

NOI $222,827 @ 7.0% cap · market cap 22.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Bigger Garage Self-Storage Storage Facility

Suggested Use

Top Pick Building Supply HVAC Service Electrical Service Storage Facility Carpet & Flooring Store Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

29

Businesses Nearby

Explore this area Business Placement

Demographics for 21849, MD

3,162

Population

1,621

Households

2

Avg Household Size

45

Median Age

25%

College-Educated

93%

High-School Grad

36.9 sq mi

ZIP Area

86

Density / Sq Mi

$74,966

Median Household Income

$35,548

Median Earnings

$1,168

Median Rent

$233,600

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

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Two-Unit Duplex Rental

33023 Old Ocean City Rd, Parsonsburg, MD 21849

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Frequently Asked Questions

What type of property is this?

Self storage facility - Established self-storage property constructed in 1997.

Where is this self storage facility located?

The property is located at 33243 Old Ocean City Rd Parsonsburg, MD.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Self‑storage facility built in 1997; Located at 33243 Old Ocean City Rd, Parsonsburg, MD 21849; BikeScore: 26, Somewhat Bikeable