Turnkey Self-Storage
For Sale
$489,000
506 W Edgewood St, Springfield, MO 65807
Small, fully fenced self-storage facility with automated gated access, concrete drive, and 22 total units.
Property Size5,380 SF
Price / SF$90.89
Days on Market152
Property Features for 506 W Edgewood St
General Information
Standard status
Active
Size
5,380 SF
Additional Details
Business Included
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$6,075
Building Details
Tenancy
Multi
Listing Agency:
Murney Associates - Primrose
Listed By:
Trent Jackson · License ##2006010451
(417) 823-2300
Source:
Exprealty
Added: Apr 7
Changed: Sep 2
Last Checked: Sep 4 at 12:39PM
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 Murney Associates - Primrose
Investment Insights
Based on property information with market context.
This self-storage facility is a turnkey operation with a fully fenced perimeter, automatic gate access, and a comprehensive security system. The property provides a smooth concrete drive for easy maneuvering and is configured with 22 total storage units.
The unit mix includes eight 12-by-30 units, twelve 10-by-20 units, and two 5-by-10 units, supporting a range of storage needs from smaller personal space to larger vehicle, equipment, or business storage. A central Springfield location is intended to provide visibility and convenient access for local residents and businesses.
The compact size of the facility is designed to keep operations manageable, while the diversified unit mix supports consistent demand across different storage sizes.
The unit mix includes eight 12-by-30 units, twelve 10-by-20 units, and two 5-by-10 units, supporting a range of storage needs from smaller personal space to larger vehicle, equipment, or business storage. A central Springfield location is intended to provide visibility and convenient access for local residents and businesses.
The compact size of the facility is designed to keep operations manageable, while the diversified unit mix supports consistent demand across different storage sizes.
Key Highlights
- 22‑unit self‑storage facility in Springfield, MO with a fully fenced perimeter and automated gate for secure access
- Unit mix: 8 units of 12x30 (360 SF) and 12 units of 10x20 (200 SF)
- Additional unit mix includes 2 units of 5x10 (50 SF), providing storage options for smaller and larger needs
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
$43,655
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
8.93%
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%
$873,100
$873.1K
Cap Rate 7%
$623,643
$623.6K
Cap Rate 9%
$485,056
$485.1K
Market Conditions
NOI Build-Up for 5,380 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
$67.8K $12.60/SF
− Vacancy
−$5.4K −$1.01/SF
EGI
$62.4K $11.59/SF
− OpEx
−$18.7K −$3.48/SF
NOI
$43.7K $8.11/SF
Area
Springfield, MO
Vacancy
8.00%
Lease Rate
$12.60 /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%
$873,100
Cap Rate 7%
$623,643
Cap Rate 9%
$485,056
Alternative Uses
Best Use
Self Storage
$623.6K
$545.7K – $727.6K
NOI $43,655 @ 7.0% cap · market cap 8.93%
Second Best
Warehouse
$299.3K
$261.9K – $349.2K
NOI $20,952 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$812.0K
$710.5K – $947.4K
NOI $56,841 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 65807, MO
55,168
Population
28,546
Households
1.9
Avg Household Size
36
Median Age
33%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
2,627
Density / Sq Mi
$50,271
Median Household Income
$33,510
Median Earnings
$994
Median Rent
$174,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Small, fully fenced self-storage facility with automated gated access, concrete drive, and 22 total units.
Where is this self storage facility located?
The property is located at 506 W Edgewood St Springfield, MO.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 22‑unit self‑storage facility in Springfield, MO with a fully fenced perimeter and automated gate for secure access; Unit mix: 8 units of 12x30 (360 SF) and 12 units of 10x20 (200 SF); Additional unit mix includes 2 units of 5x10 (50 SF), providing storage options for smaller and larger needs
