175 Railroad Ave Murphy, NC 28906
- Self storage facilities
- 2.90 lot acres
Current Use by Public Records
- Self storage facilities
Property Details for 175 Railroad Ave
- Lot size
- 2.90 lot acres
- Property type
- Self storage facilities
Description
This exceptional self-storage facility in Murphy, North Carolina, presents a compelling investment opportunity. Located at 175 Railroad Ave, 28906, Cherokee County, this property boasts 45 units situated on a substantial 2.9-acre lot. The current Net Operating Income (NOI) stands at $30,000, yielding a 3.00% capitalization rate. The asking price for this turnkey operation is $1,000,000, translating to approximately $22,222 per unit. The facility currently has a waiting list, indicating strong market demand and significant potential for increased revenue. Furthermore, the property includes over 100,000 square feet of space ready for expansion, allowing for the addition of more units to capitalize on the existing waiting list and the growing population. Two acres of the property are specifically designated for expansion. The low actual expense ratio contributes to the property's strong financial performance. This is a rare opportunity to acquire a well-established, high-demand self-storage facility with significant upside potential in a thriving market. The property's location in Murphy, NC offers easy access to major transportation routes and a growing residential population. This is an ideal investment for those seeking a stable, high-return asset with immediate cash flow and significant future growth prospects.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Murphy
- County
- Cherokee
- State
- North Carolina
- Longitude
- -84.1696
- Latitude
- 34.99
