Self-Storage
For Sale
Contact for pricing
725 Freewill Road Northwest, Cleveland, TN 37312
For-sale self-storage portfolio with warehouse assets totaling 47,377 square feet.
Property Size47,377 SF
Price / SF$81.90
Days on Market100
Property Features for 725 Freewill Road Northwest
General Information
Standard status
Active
Size
47,377 SF
Property subtype
Self Storage
Occupancy
94%
Net Operating Income
$257,881
Building Details
Year Built
2006
Buildings
12
Stories
2
Listing Agency:
Matthews
Listed By:
Hunter Reynolds · License #GA 417787
Source:
Crexi
Added: May 1
Changed: Aug 8
Last Checked: Jul 22 at 9:44PM
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 Matthews
Investment Insights
Based on property information with market context.
This for-sale self-storage portfolio includes self-storage facilities and warehouse space totaling 47,377 square feet. The offering is presented as a value-add portfolio in the Cleveland market.
The property is located at 725 Freewill Road Northwest in Cleveland, TN 37312.
The property is located at 725 Freewill Road Northwest in Cleveland, TN 37312.
Key Highlights
- For‑sale self‑storage portfolio with warehouse assets totaling 47,377 SF
- Year built: 2006
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
$304,061
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
7.84%
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%
$6,081,220
$6.1M
Cap Rate 7%
$4,343,729
$4.3M
Cap Rate 9%
$3,378,456
$3.4M
Market Conditions
NOI Build-Up for 47,377 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
$367.6K $7.76/SF
− Vacancy
−$9.9K −$0.21/SF
EGI
$357.7K $7.55/SF
− OpEx
−$53.7K −$1.13/SF
NOI
$304.1K $6.42/SF
Area
Bradley County, TN
Vacancy
2.70%
Lease Rate
$7.76 /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%
$6,081,220
Cap Rate 7%
$4,343,729
Cap Rate 9%
$3,378,456
Alternative Uses
Best Use
Self Storage
$5.82M
$5.09M – $6.79M
NOI $407,120 @ 7.0% cap · market cap 10.49%
Second Best
Warehouse
$4.34M
$3.80M – $5.07M
NOI $304,061 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$9.94M
$8.70M – $11.60M
NOI $695,873 @ 7.0% cap · market cap 17.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 37312, TN
36,291
Population
15,023
Households
2.4
Avg Household Size
42
Median Age
36%
College-Educated
93%
High-School Grad
64.4 sq mi
ZIP Area
564
Density / Sq Mi
$75,369
Median Household Income
$41,148
Median Earnings
$1,080
Median Rent
$270,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - For-sale self-storage portfolio with warehouse assets totaling 47,377 square feet.
Where is this self storage facility located?
The property is located at 725 Freewill Road Northwest Cleveland, TN.
What is the asking price?
The asking price for this property is $3,880,000.
What are key features of this property?
This property features: For‑sale self‑storage portfolio with warehouse assets totaling 47,377 SF; Year built: 2006
