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221 Eastline Road - Eastline Road Storage 25,200 SF Specialty Building Offered at $1,550,000 at a 9.65% Cap Rate in Searcy, AR 72143
INVESTMENT HIGHLIGHTS
- 9,000 sq ft climate controlled; 16,200 sq ft non-climate controlled
- Located in Searcy, Arkansas; home to Harding University and a growing, vibrant economy
- Brand new construction next to new 139 unit luxury apartment complex opening in summer of 2024
EXECUTIVE SUMMARY
Searcy is the county seat of White County and it’s largest community at just over 23,000 population. It is a growing community with tremendous activity in building new shopping and commercial, solidifying it as a regional hub for both retail and healthcare. It is also home to Harding University.
This new storage facility will be 169 units encompassing 25,200 square feet. 16,200 square feet will be outside accessed traditional storage units, and 9,000 square feet will be climate controlled. It will feature an on site automated rental system and security controlled access gates. Projected NOI from builder's proforma is $125,546 annually.
It sits adjacent to the new 139 unit Lexington; a modern, luxury multi-family project slated in open in the summer of 2024. Both of these developments sit next to Lowe’s and Tractor Supply, and just across from the Wal-Mart Supercenter and several other high traffic commercial and hospitality locations (Chick Fil A, IHOP, McAlisters, Holiday Inn Express & Suites, McDonalds, Chili’s, Planet Fitness, WhatABurger, etc.).
This new storage facility will be 169 units encompassing 25,200 square feet. 16,200 square feet will be outside accessed traditional storage units, and 9,000 square feet will be climate controlled. It will feature an on site automated rental system and security controlled access gates. Projected NOI from builder's proforma is $125,546 annually.
It sits adjacent to the new 139 unit Lexington; a modern, luxury multi-family project slated in open in the summer of 2024. Both of these developments sit next to Lowe’s and Tractor Supply, and just across from the Wal-Mart Supercenter and several other high traffic commercial and hospitality locations (Chick Fil A, IHOP, McAlisters, Holiday Inn Express & Suites, McDonalds, Chili’s, Planet Fitness, WhatABurger, etc.).
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$198,720
|
$7.89
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$16,494
|
$0.65
|
| Effective Gross Income |
$182,226
|
$7.23
|
| Taxes |
$12,586
|
$0.50
|
| Operating Expenses |
$20,000
|
$0.79
|
| Total Expenses |
$32,586
|
$1.29
|
| Net Operating Income |
$149,640
|
$5.94
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $198,720 |
| Annual Per SF | $7.89 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $16,494 |
| Annual Per SF | $0.65 |
| Effective Gross Income | |
|---|---|
| Annual | $182,226 |
| Annual Per SF | $7.23 |
| Taxes | |
|---|---|
| Annual | $12,586 |
| Annual Per SF | $0.50 |
| Operating Expenses | |
|---|---|
| Annual | $20,000 |
| Annual Per SF | $0.79 |
| Total Expenses | |
|---|---|
| Annual | $32,586 |
| Annual Per SF | $1.29 |
| Net Operating Income | |
|---|---|
| Annual | $149,640 |
| Annual Per SF | $5.94 |
PROPERTY FACTS
| Price | $1,550,000 | Building Class | B |
| Price Per SF | $61.51 | Lot Size | 7.20 AC |
| Sale Type | Investment | Building Size | 25,200 SF |
| Cap Rate | 9.65% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2024 |
| Property Subtype | Self-Storage |
| Price | $1,550,000 |
| Price Per SF | $61.51 |
| Sale Type | Investment |
| Cap Rate | 9.65% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 7.20 AC |
| Building Size | 25,200 SF |
| No. Stories | 1 |
| Year Built | 2024 |
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PROPERTY TAXES
| Parcel Number | 016-09955-003 | Total Assessment | $50,410 |
| Land Assessment | $42,250 | Annual Taxes | $12,586 ($0.50/SF) |
| Improvements Assessment | $8,160 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
016-09955-003
Land Assessment
$42,250
Improvements Assessment
$8,160
Total Assessment
$50,410
Annual Taxes
$12,586 ($0.50/SF)
Tax Year
2025
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221 Eastline Road - Eastline Road Storage
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