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412 Park Ave
Kinston, NC 28501
Self Storage Brothers · Industrial Property For Sale
Investment Highlights
- Recently converted, majority climate-controlled self-storage facility at $75/rentable SF
- Projected 5-Year Levered IRR north of 21%; Year 4 Cap Rate of 10.64%
- 15,000-person military demand base driving recurring PCS-cycle storage demand
- Three warehouse spaces leased to small businesses generating $96k/year
- Zero REIT competition and zero new supply in the last two years within the market
- Global TransPark drives $781M in annual output and approximately 3,000 jobs
Executive Summary
Broker Of Record
Gerard Hamas
Matthews of North Carolina, LLC
362768, C42113 (NC)
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203 (866) 889-0550
Gerard Hamas
Matthews of North Carolina, LLC
362768, C42113 (NC)
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203 (866) 889-0550
Property Facts
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 4.12% | Year Built/Renovated | 1912/2024 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Distribution | Parking Ratio | 0.6/1,000 SF |
| Building Class | B | Clear Ceiling Height | 18’ |
| Lot Size | 7.00 AC | No. Dock-High Doors/Loading | 2 |
| Rentable Building Area | 39,703 SF | No. Drive In / Grade-Level Doors | 2 |
| Zoning | I1 - Industrial | ||
| Sale Type | Investment |
| Cap Rate | 4.12% |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | B |
| Lot Size | 7.00 AC |
| Rentable Building Area | 39,703 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1912/2024 |
| Tenancy | Single |
| Parking Ratio | 0.6/1,000 SF |
| Clear Ceiling Height | 18’ |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | I1 - Industrial |
Amenities
- Fenced Lot
- Security System
- Yard
- Storage Space
Utilities
- Lighting - Sodium
- Water - City Water
- Sewer - City Sewer
- Heating - Electric
Property Taxes
| Parcel Number | 452511566894 | Improvements Assessment | $685,163 |
| Land Assessment | $63,612 | Total Assessment | $748,775 |
Property Taxes
Parcel Number
452511566894
Land Assessment
$63,612
Improvements Assessment
$685,163
Total Assessment
$748,775
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