Self Storage Facility with
For Sale
Contact for pricing
3451 Ward Boulevard, Wilson, NC 27893
Drive-up storage units and a laundromat operate together at this established Wilson commercial property.
Property Size17,925 SF
Price / SF$186.89
Days on Market71
Property Features for 3451 Ward Boulevard
General Information
Standard status
Active
Size
17,925 SF
Property subtype
Self Storage
Occupancy
83%
Net Operating Income
$285,806
Additional Details
Business Included
Yes
Self-Storage Units
145
Building Details
Year Built
1996
Buildings
6
Units
146
Listing Agency:
Marcus & Millichap - Columbus
(614) 440-5736
Listed By:
Gabriel Coe · License #OH 2014003018
Source:
Crexi
Added: Jun 22
Changed: Aug 30
Last Checked: Aug 30 at 3:13PM
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 Marcus & Millichap - Columbus
Investment Insights
Based on property information with market context.
StoreMore Self Storage and Washland Laundromat comprise a commercial property at 3451 Ward Boulevard in Wilson, North Carolina. The facility includes 145 non-climate-controlled storage units with drive-up access, along with a laundromat.
The property contains 17,925 net rentable square feet and was built in 1996. Its combination of self storage and laundry operations creates two distinct components within one established site.
The property contains 17,925 net rentable square feet and was built in 1996. Its combination of self storage and laundry operations creates two distinct components within one established site.
Key Highlights
- 145 non‑climate‑controlled storage units with drive‑up access
- Laundromat included with the self storage property
- 17,925 net rentable square feet
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
$149,606
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
4.47%
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%
$2,992,120
$3.0M
Cap Rate 7%
$2,137,229
$2.1M
Cap Rate 9%
$1,662,289
$1.7M
Market Conditions
NOI Build-Up for 17,925 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
$232.3K $12.96/SF
− Vacancy
−$18.6K −$1.04/SF
EGI
$213.7K $11.92/SF
− OpEx
−$64.1K −$3.58/SF
NOI
$149.6K $8.35/SF
Area
Wilson County, NC
Vacancy
8.00%
Lease Rate
$12.96 /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%
$2,992,120
Cap Rate 7%
$2,137,229
Cap Rate 9%
$1,662,289
Alternative Uses
Best Use
Self Storage
$2.14M
$1.87M – $2.49M
NOI $149,606 @ 7.0% cap · market cap 4.47%
Second Best
Warehouse
$1.71M
$1.50M – $2.00M
NOI $120,049 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$4.30M
$3.76M – $5.02M
NOI $301,157 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Explore this area
Business Placement
Demographics for 27893, NC
37,131
Population
18,383
Households
2
Avg Household Size
41
Median Age
15%
College-Educated
79%
High-School Grad
109.0 sq mi
ZIP Area
341
Density / Sq Mi
$40,180
Median Household Income
$31,197
Median Earnings
$894
Median Rent
$153,000
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 - Drive-up storage units and a laundromat operate together at this established Wilson commercial property.
Where is this self storage facility located?
The property is located at 3451 Ward Boulevard Wilson, NC.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 145 non‑climate‑controlled storage units with drive‑up access; Laundromat included with the self storage property; 17,925 net rentable square feet
