Mixed-Use Storage and
For Sale
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498 W CENTRAL BLVD, Coquille, OR 97423
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 Market100
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
Zoning
UR-2, C-2
Occupancy
98%
Investment Type
Value Add
Net Operating Income
$191,054
Financials
Cap Rate
8.46%
Business Included
Yes
Additional Details
Multifamily Units
10
Building Details
Year Built
1976
Units
141
Tenancy
Multi
Listing Agency:
Pacwest Commercial Real Estate
Listed By:
Rene' Nelson, CCIM · License #OR 890500024
Source:
Crexi
Added: May 29
Changed: Aug 10
Last Checked: Sep 3 at 11:25AM
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 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%
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
$166,507
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
6.66%
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%
$3,330,140
$3.3M
Cap Rate 7%
$2,378,671
$2.4M
Cap Rate 9%
$1,850,078
$1.9M
Market Conditions
NOI Build-Up for 17,388 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
$250.4K $14.40/SF
− Vacancy
−$12.5K −$0.72/SF
EGI
$237.9K $13.68/SF
− OpEx
−$71.4K −$4.10/SF
NOI
$166.5K $9.58/SF
Area
Coos County, OR
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$3,330,140
Cap Rate 7%
$2,378,671
Cap Rate 9%
$1,850,078
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Explore this area
Business Placement
Demographics for 97423, OR
6,986
Population
2,835
Households
2.5
Avg Household Size
49
Median Age
19%
College-Educated
91%
High-School Grad
126.6 sq mi
ZIP Area
55
Density / Sq Mi
$57,665
Median Household Income
$36,250
Median Earnings
$1,150
Median Rent
$266,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
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%
