Building Details

Year Built 2000

Year Renovated 2018

Buildings 2

Units 74

Tenancy Multi

Listing Agency: Voyager Real Estate Partners LLC

Listed By: Benjamin Smith · License #TN 354128

Source: Crexi

Added: Aug 7 Changed: Aug 11 Last Checked: Aug 11 at 8:28AM

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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 Voyager Real Estate Partners LLC

Investment Insights

Based on property information with market context.

Located at 5296 Highway 41A in Joelton, Tennessee, this self-storage property contains 6,730 square feet and was built in 2000. The facility includes interior drive-up units along with uncovered outdoor parking for RVs, boats, trailers, and vehicles. The site is enclosed by fencing and controlled access gates, with 24/7 video surveillance and an electronic gate operator connected to StorEdge software for leasing, billing, access, and security functions.

There are 74 total units and spaces, including 7 currently vacant. The property is zoned C5 and offers capacity for two additional storage units. Its Highway 41A address places it along the Clarksville Highway corridor north of Nashville, with surrounding communities including Whites Creek, Pleasant View, Ashland City, Ridgetop, Goodlettsville, and Coopertown.

Key Highlights

• 6,730‑square‑foot self‑storage property built in 2000
• 74 total storage units and outdoor parking spaces
• 7 vacant units and spaces available for lease‑up

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

$67,132

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

5.59%

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%

$1,342,640 $1.3M

Cap Rate 7%

$959,029 $959.0K

Cap Rate 9%

$745,911 $745.9K

Market Conditions

NOI Build-Up for 6,730 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

$101.0K $15.00/SF

− Vacancy

−$5.0K −$0.75/SF

EGI

$95.9K $14.25/SF

− OpEx

−$28.8K −$4.27/SF

NOI

$67.1K $9.98/SF

Area

Davidson County, TN

Vacancy

5.00%

Lease Rate

$15.00 /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%

$1,342,640

Cap Rate 7%

$959,029

Cap Rate 9%

$745,911

Alternative Uses

Best Use

Warehouse

$8.15M

$7.13M – $9.51M (±1% cap)

NOI $570,341 @ 7.0% cap · market cap 47.53%

Second Best

Self Storage

$959.0K

$839.2K – $1.12M (±1% cap)

NOI $67,132 @ 7.0% cap · market cap 5.59%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Self storage facilities

Suggested Use

Top Pick Parking Lot & Garage Big Box & Wholesale Store HVAC Service Electrical Service Furniture & Home Goods (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

74

Businesses Nearby

Explore this area Business Placement

Demographics for 37080, TN

7,429

Population

3,322

Households

2.2

Avg Household Size

47

Median Age

21%

College-Educated

86%

High-School Grad

49.1 sq mi

ZIP Area

151

Density / Sq Mi

$78,151

Median Household Income

$43,855

Median Earnings

$1,123

Median Rent

$325,600

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Self storage facility - Gated storage property combines drive-up units with uncovered space for recreational vehicles, trailers, boats, and automobiles.

Where is this self storage facility located?

The property is located at 5296 Highway 41A Joelton, TN.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: 6,730‑square‑foot self‑storage property built in 2000; 74 total storage units and outdoor parking spaces; 7 vacant units and spaces available for lease‑up