Building Details

Building Size 10,237 SF

Year Built 1997

Listing Agency: SVN/Miller Commercial Real Estate m***@svn.com Show Phone

Listed By: Meredith M. Mears · License #672907 Show Phone

Source: Barnesrealestatecompany

Added: Aug 14 Changed: Aug 24 Last Checked: Aug 23 at 6:11AM

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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/Miller Commercial Real Estate

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 = 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

$87,969

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

8.84%

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%

$1,759,380 $1.8M

Cap Rate 7%

$1,256,700 $1.3M

Cap Rate 9%

$977,433 $977.4K

Market Conditions

NOI Build-Up for 10,237 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

$135.1K $13.20/SF

− Vacancy

−$9.5K −$0.92/SF

EGI

$125.7K $12.28/SF

− OpEx

−$37.7K −$3.68/SF

NOI

$88.0K $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 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%

$1,759,380

Cap Rate 7%

$1,256,700

Cap Rate 9%

$977,433

Alternative Uses

Best Use

Self Storage

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $87,969 @ 7.0% cap · market cap 8.84%

Second Best

Warehouse

$945.0K

$826.9K – $1.10M (±1% cap)

NOI $66,148 @ 7.0% cap · market cap 6.65%

Theoretical Best

Office A

$3.58M

$3.13M – $4.18M (±1% cap)

NOI $250,669 @ 7.0% cap · market cap 25.19%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Bigger Garage Self-Storage Storage Facility

Suggested Use

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

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?

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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 ROAD 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