199-Unit Self Storage
For Sale
Contact for pricing
4605 Johnston Street, Lafayette, LA 70503
Fenced, gated facility with climate-controlled units, coded access, an onsite office, and security cameras.
Property Size30,400 SF
Lot Size1.58 Acres
Price / SF$75.66
Days on Market25
Property Features for 4605 Johnston Street
General Information
Standard status
Active
Size
30,400 SF
Lot size
1.58 Acres
Property subtype
Self Storage
Occupancy
84%
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Self-Storage Units
199
Amenities
onsite office
security cameras
coded entry and exit
Listing Agency:
ParaSell Inc
Listed By:
Scott Reid · License #9009637
(949) 942-6585
Source:
Crexi
Added: Sep 3
Changed: Sep 26
Last Checked: Sep 26 at 7:25AM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
This self storage facility contains 30,400 square feet on 1.577 acres, with 199 units comprising 145 non-climate-controlled spaces and 54 climate-controlled spaces. Physical occupancy is 84%, while economic occupancy is 75%. The secured property includes fencing, coded entry and exit, an onsite office, and security cameras. Improvements completed in 2025 include new signage, camera upgrades, roof replacements, fencing, electric gate access, exterior paint, and lighting.
The facility fronts Johnston Street, also designated US-167, in Lafayette, Louisiana. The corridor carries 36,000-39,000+ vehicles per day and provides access to the Johnston/Ambassador retail hub, including Acadiana Mall, Walmart, Sam’s Club, The Home Depot, Lowe’s, Target, Best Buy, restaurants, and other retailers.
The facility fronts Johnston Street, also designated US-167, in Lafayette, Louisiana. The corridor carries 36,000-39,000+ vehicles per day and provides access to the Johnston/Ambassador retail hub, including Acadiana Mall, Walmart, Sam’s Club, The Home Depot, Lowe’s, Target, Best Buy, restaurants, and other retailers.
Key Highlights
- 30,400‑square‑foot self storage facility on 1.577 acres
- 199 total units: 145 non‑climate controlled and 54 climate controlled
- 84% physical occupancy and 75% economic occupancy
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
$174,166
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
7.57%
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%
$3,483,320
$3.5M
Cap Rate 7%
$2,488,086
$2.5M
Cap Rate 9%
$1,935,178
$1.9M
Market Conditions
NOI Build-Up for 30,400 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
$215.2K $7.08/SF
− Vacancy
−$10.3K −$0.34/SF
EGI
$204.9K $6.74/SF
− OpEx
−$30.7K −$1.01/SF
NOI
$174.2K $5.73/SF
Area
Lafayette, LA
Vacancy
4.80%
Lease Rate
$7.08 /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%
$3,483,320
Cap Rate 7%
$2,488,086
Cap Rate 9%
$1,935,178
Alternative Uses
Best Use
Self Storage
$3.28M
$2.87M – $3.83M
NOI $229,824 @ 7.0% cap · market cap 9.99%
Second Best
Warehouse
$2.49M
$2.18M – $2.90M
NOI $174,166 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$7.19M
$6.29M – $8.39M
NOI $503,132 @ 7.0% cap · market cap 21.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
84%
Occupancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
Explore this area
Business Placement
Demographics for 70503, LA
27,497
Population
13,052
Households
2.1
Avg Household Size
38
Median Age
55%
College-Educated
96%
High-School Grad
11.3 sq mi
ZIP Area
2,433
Density / Sq Mi
$94,360
Median Household Income
$54,170
Median Earnings
$1,087
Median Rent
$326,800
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Fenced, gated facility with climate-controlled units, coded access, an onsite office, and security cameras.
Where is this self storage facility located?
The property is located at 4605 Johnston Street Lafayette, LA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 30,400‑square‑foot self storage facility on 1.577 acres; 199 total units: 145 non‑climate controlled and 54 climate controlled; 84% physical occupancy and 75% economic occupancy
