80-Unit Self Storage
For Sale
$1,200,000
365 S Mckinley Street, Coats, NC 27521
Commercial Sale, Coats, NC
Property Size15,505 SF
Lot Size1.64 Acres
Price / SF$77.39
Days on Market222
Property Features for 365 S Mckinley Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Lot features
Corner Lot
Standard status
Active
APN
0690-71-8578.000, 0690-71-7577.000, .31 AC HWY 55
Size
15,505 SF
Lot size
1.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
1 LT 300X150 R M COATS LDBY DEED, PARCEL B CSX RAILROAD PC #C/165-D, .31 AC HWY 55 CSX RR PC C/165-D
Tax Annual Amount
8722
Legal Description
1 LT 300X150 R M COATS LDBY DEED, PARCEL B CSX RAILROAD PC #C/165-D, .31 AC HWY 55 CSX RR PC C/165-D
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
Touchless Car Wash (LaserWash G5)
Car Wash vending
5 vacuums
3 self service wash bays
Building Details
Year built
1974
Floors in Building
1
Flooring type
Concrete
Building materials
Block
Roof type
Shingle, Metal
Listing Agency:
Turlington Real Estate Group
(910) 892-0463
Listed By:
Lucia Turlington · License #265256
(919) 697-6905
Added: Feb 11
Changed: Sep 13
Last Checked: Sep 21 at 5:06PM
MLS# 10145921
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property includes 80 mini storage units within a 15,505-square-foot improvement on 1.64 acres. The site also contains a mechanic shop with 13 service bays, a touchless LaserWash G5 car wash, three self-service wash bays, five vacuums, and car wash vending. Most mechanic equipment is included in the sale. Construction is block, with concrete flooring, metal and shingle roofing, wall/window unit cooling, public water, and public sewer. Built in 1974, the property is zoned Commercial.
The site fronts McKinley St with 300 feet of road frontage, and each side is road facing. Its address is 365 S Mckinley Street in Coats, NC 27521, within Harnett County.
The site fronts McKinley St with 300 feet of road frontage, and each side is road facing. Its address is 365 S Mckinley Street in Coats, NC 27521, within Harnett County.
Key Highlights
- 80 mini storage units on 1.64 acres
- 15,505 square feet with Commercial zoning
- 300 feet of road frontage on McKinley St
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
$102,381
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
8.53%
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%
$2,047,620
$2.0M
Cap Rate 7%
$1,462,586
$1.5M
Cap Rate 9%
$1,137,567
$1.1M
Market Conditions
NOI Build-Up for 15,505 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
$126.5K $8.16/SF
− Vacancy
−$6.1K −$0.39/SF
EGI
$120.4K $7.77/SF
− OpEx
−$18.1K −$1.17/SF
NOI
$102.4K $6.60/SF
Area
Harnett County, NC
Vacancy
4.80%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
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%
$2,047,620
Cap Rate 7%
$1,462,586
Cap Rate 9%
$1,137,567
Alternative Uses
Best Use
Specialty Retail
$2.66M
$2.32M – $3.10M
NOI $185,868 @ 7.0% cap · market cap 15.49%
Second Best
Retail
$1.96M
$1.72M – $2.29M
NOI $137,347 @ 7.0% cap · market cap 11.45%
Theoretical Best
Office A
$3.38M
$2.95M – $3.94M
NOI $236,266 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
13
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Explore this area
Business Placement
Demographics for 27521, NC
6,345
Population
2,896
Households
2.2
Avg Household Size
38
Median Age
21%
College-Educated
80%
High-School Grad
26.0 sq mi
ZIP Area
244
Density / Sq Mi
$57,540
Median Household Income
$40,742
Median Earnings
$912
Median Rent
$201,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Commercial property combines storage units with automotive service and car wash improvements on a public-road-access site.
Where is this self storage facility located?
The property is located at 365 S Mckinley Street Coats, NC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 80 mini storage units on 1.64 acres; 15,505 square feet with Commercial zoning; 300 feet of road frontage on McKinley St
