Mixed-Use Storage and
498 W CENTRAL BLVD Coquille, OR 97423
498 W CENTRAL BLVD, Coquille, OR, 97423
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For Sale
Contact for pricing
Turnkey self-storage with attached residential units on two contiguous parcels, operated since 1976.
Property Size17,388 SF
Lot Size3.82 Acres
Price / SF$143.78
Days on Market55
Property Features for 498 W CENTRAL BLVD
General Information
- Standard status
- Active
- Size
- 17,388 SF
- Lot size
- 3.82 Acres
- Property subtype
- Self Storage
Building Details
- Year Built
- 1976
Listing agency
Pacwest Commercial Real Estate
Listed by
Rene' Nelson, CCIM · License #OR 890500024
Source
Crexi
Added: May 29 Updated: Jul 10 at 1:52PM Checked: Jul 21 at 9:52AM
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 Pacwest Commercial Real Estate
Investment Insights
Based on property information with market context.
Central Mini Storage is a turnkey mixed-use property featuring 141 self-storage units alongside 10 residential units. The residential component includes eight detached cottages and two single-family homes. The property is situated on two contiguous parcels totaling 3.82 acres and has been family-operated since 1976.
The facility is located at 498 W Central Blvd in Coquille, Oregon. The operation is currently supported by reported exceptional occupancy of 97.9%. Recent rent adjustments of 13%–15% are cited as contributing to revenue growth.
For buyers or operators, the combination of storage units and residential income creates a diversified platform under one roof. The offering is presented with underwriting based on a Year 1 cap rate of 7.64% and a stabilized cap rate of 8.46%. Reported zoning flexibility includes UR-2 and C-2, supporting both residential infill and commercial repositioning, and the property includes open land that could accommodate container storage. The property also notes an opportunity to modernize operations by moving from legacy systems to cloud-based management, automated collections, and expanded electronic access controls.
The facility is located at 498 W Central Blvd in Coquille, Oregon. The operation is currently supported by reported exceptional occupancy of 97.9%. Recent rent adjustments of 13%–15% are cited as contributing to revenue growth.
For buyers or operators, the combination of storage units and residential income creates a diversified platform under one roof. The offering is presented with underwriting based on a Year 1 cap rate of 7.64% and a stabilized cap rate of 8.46%. Reported zoning flexibility includes UR-2 and C-2, supporting both residential infill and commercial repositioning, and the property includes open land that could accommodate container storage. The property also notes an opportunity to modernize operations by moving from legacy systems to cloud-based management, automated collections, and expanded electronic access controls.
Key Highlights
- Central mini storage on two contiguous parcels totaling 3.82 acres, built in 1976
- 141 self‑storage units plus 10 residential units: eight detached cottages and two single‑family homes
- Operating occupancy of 97.9% with a stated Year 1 cap rate of 7.64% and stabilized cap rate of 8.46%
Local Financial Insights For Self Storage
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 | $250.4k | $14.40 |
| − Vacancy | −$12.5k | −$0.72 |
| EGI | $237.9k | $13.68 |
| − OpEx | −$71.4k | −$4.10 |
| NOI | $166.5k | $9.58 |
17,388 SF · lease $14.40/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Self Storage
$2.38M
$2.08M – $2.78M
NOI $166,507 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$2.08M
$1.82M – $2.43M
NOI $145,631 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$3.15M
$2.75M – $3.67M
NOI $220,341 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Central Mini Storage
Storage Facility
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Turnkey self-storage with attached residential units on two contiguous parcels, operated since 1976.
Where is this self storage facility located?
The property is located at 498 W CENTRAL BLVD Coquille, OR.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Central mini storage on two contiguous parcels totaling 3.82 acres, built in 1976; 141 self‑storage units plus 10 residential units: eight detached cottages and two single‑family homes; Operating occupancy of 97.9% with a stated Year 1 cap rate of 7.64% and stabilized cap rate of 8.46%
