108-Unit Self-Storage
For Sale
Contact for pricing
9150 FM 346, Whitehouse, TX 75791
Commercially zoned storage property with recent improvements to major building and site systems.
Property Size15,370 SF
Price / SF$104.10
Days on Market13
Property Features for 9150 FM 346
General Information
Standard status
Active
Size
15,370 SF
Class
B
Property subtype
Self Storage
Zoning
Commercial
Occupancy
95%
Warehouse & Industrial
Sprinkler System
Yes
Self-Storage Units
108
Additional Details
Road Access
Yes
Building Details
Year Built
2001
Buildings
5
Stories
1
Units
108
Tenancy
Multi
Listing Agency:
SkyView Advisors
(813) 829-1248
Listed By:
Scott Schoettlin · License #FL SL3426060
Source:
Crexi
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 23 at 4:45AM
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 SkyView Advisors
Investment Insights
Based on property information with market context.
This self-storage property contains 15,370 NRSF across 108 units and was constructed in 2001. The facility is zoned Commercial and has undergone recent work involving the roof, concrete, electrical service, sprinkler system, landscaping, and security systems. Current operations reflect 95% physical occupancy and 80% economic occupancy.
The property is located at 9150 FM 346 in Whitehouse, Texas, providing a defined roadside location for the facility. Its unit-based configuration and completed system upgrades support ongoing self-storage operations, while the occupancy figures provide a current view of property performance.
The property is located at 9150 FM 346 in Whitehouse, Texas, providing a defined roadside location for the facility. Its unit-based configuration and completed system upgrades support ongoing self-storage operations, while the occupancy figures provide a current view of property performance.
Key Highlights
- 15,370 NRSF self‑storage facility with 108 units
- 95% physical occupancy and 80% economic occupancy
- Built in 2001
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
$96,110
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
6.01%
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%
$1,922,200
$1.9M
Cap Rate 7%
$1,373,000
$1.4M
Cap Rate 9%
$1,067,889
$1.1M
Market Conditions
NOI Build-Up for 15,370 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
$123.6K $8.04/SF
− Vacancy
−$10.5K −$0.68/SF
EGI
$113.1K $7.36/SF
− OpEx
−$17.0K −$1.10/SF
NOI
$96.1K $6.25/SF
Area
Smith County, TX
Vacancy
8.50%
Lease Rate
$8.04 /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%
$1,922,200
Cap Rate 7%
$1,373,000
Cap Rate 9%
$1,067,889
Alternative Uses
Best Use
Self Storage
$2.14M
$1.88M – $2.50M
NOI $150,088 @ 7.0% cap · market cap 9.38%
Second Best
Warehouse
$1.37M
$1.20M – $1.60M
NOI $96,110 @ 7.0% cap · market cap 6.01%
Theoretical Best
Hotel Hospitality
$11.58M
$10.13M – $13.51M
NOI $810,383 @ 7.0% cap · market cap 50.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 75791, TX
14,255
Population
5,758
Households
2.5
Avg Household Size
37
Median Age
32%
College-Educated
94%
High-School Grad
39.4 sq mi
ZIP Area
362
Density / Sq Mi
$76,154
Median Household Income
$45,491
Median Earnings
$1,420
Median Rent
$231,900
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 - Commercially zoned storage property with recent improvements to major building and site systems.
Where is this self storage facility located?
The property is located at 9150 FM 346 Whitehouse, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 15,370 NRSF self‑storage facility with 108 units; 95% physical occupancy and 80% economic occupancy; Built in 2001
