Self-Storage with Expansion
For Sale
Contact for pricing
920 Magnolia Ln, Christiansburg, VA 24073
Self-storage facility with expansion potential near Virginia Tech.
Property Size16,127 SF
Price / SF$108.51
Days on Market161
Property Features for 920 Magnolia Ln
General Information
Standard status
Active
Size
16,127 SF
Property subtype
Self Storage
Net Operating Income
$132,016
Building Details
Year Built
1980
Units
267
Listing Agency:
Matthews
Listed By:
Austin McLeod · License #394903
Source:
Crexi
Added: Mar 4
Changed: Aug 8
Last Checked: Aug 8 at 6:31AM
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 commercial property features a self-storage facility with additional land available for expansion. The property is located near Virginia Tech and Radford. The existing self-storage facility has a size of 16127 square feet. This property presents a value-add opportunity.
Key Highlights
- Value‑Add Self‑Storage Opportunity
- Includes Expansion Land
- Located Near Virginia Tech
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
$154,432
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
8.82%
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%
$3,088,640
$3.1M
Cap Rate 7%
$2,206,171
$2.2M
Cap Rate 9%
$1,715,911
$1.7M
Market Conditions
NOI Build-Up for 16,127 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
$232.2K $14.40/SF
− Vacancy
−$11.6K −$0.72/SF
EGI
$220.6K $13.68/SF
− OpEx
−$66.2K −$4.10/SF
NOI
$154.4K $9.58/SF
Area
Montgomery County, VA
Vacancy
5.00%
Lease Rate
$14.40 /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%
$3,088,640
Cap Rate 7%
$2,206,171
Cap Rate 9%
$1,715,911
Alternative Uses
Best Use
Self Storage
$2.21M
$1.93M – $2.57M
NOI $154,432 @ 7.0% cap · market cap 8.82%
Second Best
Industrial
$2.17M
$1.89M – $2.53M
NOI $151,553 @ 7.0% cap · market cap 8.66%
Theoretical Best
Flex RnD
$3.82M
$3.34M – $4.45M
NOI $267,154 @ 7.0% cap · market cap 15.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 24073, VA
32,093
Population
14,248
Households
2.3
Avg Household Size
39
Median Age
42%
College-Educated
94%
High-School Grad
89.6 sq mi
ZIP Area
358
Density / Sq Mi
$75,103
Median Household Income
$46,396
Median Earnings
$1,150
Median Rent
$247,200
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 - Self-storage facility with expansion potential near Virginia Tech.
Where is this self storage facility located?
The property is located at 920 Magnolia Ln Christiansburg, VA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Value‑Add Self‑Storage Opportunity; Includes Expansion Land; Located Near Virginia Tech
