Stabilized Self-Storage Asset For
440 E State Street Black Mountain, NC 28711
For Sale
$1,800,000
Pending
Fully occupied self-storage facility in Black Mountain, NC.
Property Size20,095 SF
Days on Market119
Property Features for 440 E State Street
General Information
Standard status
Pending
Size
20,095 SF
Property subtype
Commercial
Building Details
Year Built
1994
Listing Agency:
CENTURY 21 CONNECTED
(828) 348-0222
Listed By:
AARON PALMER · License #292874
Source:
Corcoran
Added: Apr 1
Changed: Jul 10
Last Checked: Jul 28 at 6:23AM
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 CENTURY 21 CONNECTED
Investment Insights
Based on property information with market context.
The property at 440 E State St, Black Mountain, NC, presents an opportunity to acquire a stabilized self-storage asset. Constructed in 1994, this facility spans 20,095 square feet and comprises 182 units, currently operating at 100% occupancy. The location on E State Street provides high visibility and accessibility, with convenient access to downtown Black Mountain and Asheville. The property generates approximately $204,000 in annual gross revenue. The offering includes the possibility for future expansion of approximately 1,000–2,000 NRSF. The property is positioned in a sought-after market in Western North Carolina.
Key Highlights
- 100% Occupancy: Provides immediate in‑place cash flow.
- Below Replacement Cost: Offered at an attractive entry point of approximately $90/SF.
- Value‑Add Potential: Opportunity for strategic rent increases due to below‑market rates.
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $205.0k | $10.20 |
| − Vacancy | −$4.9k | −$0.24 |
| EGI | $200.0k | $9.96 |
| − OpEx | −$60.0k | −$2.99 |
| NOI | $140.0k | $6.97 |
20,095 SF · lease $10.20/SF/yr · vacancy 2.40% · expense 30.00%
Alternative Uses
Best Use
Self Storage
$2.49M
$2.18M – $2.91M
NOI $174,537 @ 7.0% cap · market cap 9.70%
Second Best
Industrial
$2.00M
$1.75M – $2.33M
NOI $140,035 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$6.35M
$5.56M – $7.41M
NOI $444,801 @ 7.0% cap · market cap 24.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Self storage facility - Fully occupied self-storage facility in Black Mountain, NC.
Where is this self storage facility located?
The property is located at 440 E State Street Black Mountain, NC.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 100% Occupancy: Provides immediate in‑place cash flow.; Below Replacement Cost: Offered at an attractive entry point of approximately $90/SF.; Value‑Add Potential: Opportunity for strategic rent increases due to below‑market rates.
