Listing Agency: Inspired Realty

Listed By: Streamlined Realty Show Phone

Source: Streamlinedrealty

Added: Sep 14 Last Checked: Sep 14 at 2:27PM

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Investment Insights

Based on property information with market context.

This self-storage property includes 11 rented units, a current retail area, and an oversized two-car garage equipped with electric service. Additional portions of the site accommodate truck, trailer, RV, and boat storage. The property also includes a 0.75-acre lot, providing substantial outdoor storage area alongside the enclosed improvements.

Located at 8982 S Peoga Rd in Trafalgar, Indiana, the facility is situated just minutes from Trafalgar and Cordry-Sweetwater Lakes. The combination of enclosed units, retail space, garage utility, and outdoor storage areas supports several established commercial functions within one property.

Key Highlights

• 11 rented storage units
• 0.75‑acre lot with multiple outdoor storage areas
• Oversized 2‑car garage with electric service

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

$15,199

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

7.41%

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%

$303,980 $304.0K

Cap Rate 7%

$217,129 $217.1K

Cap Rate 9%

$168,878 $168.9K

Market Conditions

NOI Build-Up for 2,800 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

$19.6K $7.01/SF

− Vacancy

−$1.7K −$0.62/SF

EGI

$17.9K $6.39/SF

− OpEx

−$2.7K −$0.96/SF

NOI

$15.2K $5.43/SF

Area

Johnson County, IN

Vacancy

8.90%

Lease Rate

$7.01 /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%

$303,980

Cap Rate 7%

$217,129

Cap Rate 9%

$168,878

Alternative Uses

Best Use

Retail

$437.5K

$382.8K – $510.4K (±1% cap)

NOI $30,623 @ 7.0% cap · market cap 14.94%

Second Best

Self Storage

$351.1K

$307.2K – $409.6K (±1% cap)

NOI $24,578 @ 7.0% cap · market cap 11.99%

Theoretical Best

Office A

$705.6K

$617.4K – $823.2K (±1% cap)

NOI $49,392 @ 7.0% cap · market cap 24.09%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Self storage facilities

Suggested Use

Top Pick HVAC Service Garden Center Grocery & Convenience Store Gym & Fitness Center Food Market Electronics & Wireless 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.

Location Intelligence

Trade Area within ½ mile

7

Businesses Nearby

Explore this area Business Placement

Demographics for 46181, IN

5,280

Population

1,959

Households

2.7

Avg Household Size

43

Median Age

28%

College-Educated

95%

High-School Grad

45.5 sq mi

ZIP Area

116

Density / Sq Mi

$85,625

Median Household Income

$49,503

Median Earnings

$951

Median Rent

$278,600

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Self storage facility - Storage property with retail space, an electric-service garage, and additional areas for vehicle and equipment storage.

Where is this self storage facility located?

The property is located at 8982 S Peoga Rd Trafalgar, IN.

What is the asking price?

The asking price for this property is $205,000.

What are key features of this property?

This property features: 11 rented storage units; 0.75‑acre lot with multiple outdoor storage areas; Oversized 2‑car garage with electric service