Self-Storage and Warehouse
For Sale
Contact for pricing
406 W Bobo Newsom Hwy, Hartsville, SC 29550
Partially occupied 22-unit storage facility with multiple buildings, including a larger structure with roll-up doors.
Property Size2,280 SF
Lot Size0.83 Acres
Price / SF$65.79
Days on Market154
Property Features for 406 W Bobo Newsom Hwy
General Information
Standard status
Active
Size
2,280 SF
Class
C
Lot size
0.83 Acres
Property subtype
Industrial, Land, Self Storage
Occupancy
23%
Investment Type
Value Add
Net Operating Income
$8,400
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
1
Units
22
Tenancy
Multi
Listing Agency:
The Virtual Realty Group
Listed By:
Erika McNew · License #106803
(704) 606-3550
Source:
Crexi
Added: Apr 6
Changed: Sep 3
Last Checked: Sep 5 at 7:55AM
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 The Virtual Realty Group
Investment Insights
Based on property information with market context.
This property is a value-add self-storage and warehouse asset in Hartsville, South Carolina, with 22 storage units across multiple buildings on two parcels totaling 0.83 acres. The site is partially occupied, with 5 units currently leased to 4 tenants, generating approximately $700 per month in income. In addition to the smaller storage buildings, there is a larger structure equipped with roll-up doors, providing versatility for storage or other commercial uses.
The site includes road frontage and easy access, and it also has additional land that may allow for expansion. The property consists of two parcels identified as 057-00-02-026 and 057-00-02-027.
The existing layout plus surplus land supports opportunities to pursue additional revenue through lease-up of vacant units, subject to buyer verification of zoning, permitted uses, income, and development potential.
The site includes road frontage and easy access, and it also has additional land that may allow for expansion. The property consists of two parcels identified as 057-00-02-026 and 057-00-02-027.
The existing layout plus surplus land supports opportunities to pursue additional revenue through lease-up of vacant units, subject to buyer verification of zoning, permitted uses, income, and development potential.
Key Highlights
- 22‑unit storage property in Hartsville, SC on two parcels (057‑00‑02‑026 and 057‑00‑02‑027)
- Two parcels totaling 0.83 acres, with additional land identified for potential expansion
- Partially occupied: 5 units leased to 4 tenants generating approximately $700/month in income
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
$13,655
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
9.10%
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%
$273,100
$273.1K
Cap Rate 7%
$195,071
$195.1K
Cap Rate 9%
$151,722
$151.7K
Market Conditions
NOI Build-Up for 2,280 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
$17.2K $7.56/SF
− Vacancy
−$1.2K −$0.51/SF
EGI
$16.1K $7.05/SF
− OpEx
−$2.4K −$1.06/SF
NOI
$13.7K $5.99/SF
Area
Darlington County, SC
Vacancy
6.80%
Lease Rate
$7.56 /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%
$273,100
Cap Rate 7%
$195,071
Cap Rate 9%
$151,722
Alternative Uses
Best Use
Self Storage
$207.8K
$181.8K – $242.4K
NOI $14,545 @ 7.0% cap · market cap 9.70%
Second Best
Warehouse
$195.1K
$170.7K – $227.6K
NOI $13,655 @ 7.0% cap · market cap 9.10%
Theoretical Best
Specialty Retail
$4.22M
$3.69M – $4.92M
NOI $295,180 @ 7.0% cap · market cap 196.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 29550, SC
30,013
Population
13,913
Households
2.2
Avg Household Size
42
Median Age
24%
College-Educated
87%
High-School Grad
208.2 sq mi
ZIP Area
144
Density / Sq Mi
$54,191
Median Household Income
$36,518
Median Earnings
$851
Median Rent
$169,200
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 - Partially occupied 22-unit storage facility with multiple buildings, including a larger structure with roll-up doors.
Where is this self storage facility located?
The property is located at 406 W Bobo Newsom Hwy Hartsville, SC.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 22‑unit storage property in Hartsville, SC on two parcels (057‑00‑02‑026 and 057‑00‑02‑027); Two parcels totaling 0.83 acres, with additional land identified for potential expansion; Partially occupied: 5 units leased to 4 tenants generating approximately $700/month in income
