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498 W Central Blvd 1,272 SF Specialty Building Offered at $2,500,000 at a 7.79% Cap Rate in Coquille, OR 97423
Investment Highlights
- Turnkey investment blending self-storage and residential for diversified income.
- Immediate upside from implemented rent increases and operational modernization.
- Located in the heart of Coquille with easy access to surrounding community amenities.
- Two parcels zoned UR-2 and C-2 offering future redevelopment options.
- Strong current performance with 97.2% occupancy and historically low vacancy.
Executive Summary
Central Mini Storage presents a turnkey opportunity in Coquille, Oregon, encompassing two contiguous parcels totaling 3.82 acres. The property blends 141 self-storage units with 10 residential units, including eight detached cottages and two single-family homes. This family-owned facility, operating since 1976, has maintained exceptional occupancy at 97.2%, supported by proactive tenant retention and consistent market demand. The list price of $2,500,000 is underpinned by strong fundamentals, including a Year 1 cap rate of 7.79% and stabilized cap rate of 8.61%.
Revenue generation benefits from recent rent adjustments of 13–15%, ensuring growth beyond in-place rates. Future upside exists through operational modernization, transitioning from legacy systems to cloud-based management, automated collections, and expanded electronic access controls. Zoning flexibility—UR-2 and C-2—supports both residential infill and commercial repositioning, complemented by open land that could accommodate container storage. With no competing self-storage projects currently reported in the pipeline, new ownership gains an advantageous position to enhance income via market-aligned rental rates and property improvements.
Revenue generation benefits from recent rent adjustments of 13–15%, ensuring growth beyond in-place rates. Future upside exists through operational modernization, transitioning from legacy systems to cloud-based management, automated collections, and expanded electronic access controls. Zoning flexibility—UR-2 and C-2—supports both residential infill and commercial repositioning, complemented by open land that could accommodate container storage. With no competing self-storage projects currently reported in the pipeline, new ownership gains an advantageous position to enhance income via market-aligned rental rates and property improvements.
Property Facts
| Price | $2,500,000 | Building Class | B |
| Price Per SF | $1,965.41 | Lot Size | 3.53 AC |
| Sale Type | Investment | Building Size | 1,272 SF |
| Cap Rate | 7.79% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1976 |
| Property Subtype | Self-Storage | ||
| Zoning | C-2 | ||
| Price | $2,500,000 |
| Price Per SF | $1,965.41 |
| Sale Type | Investment |
| Cap Rate | 7.79% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 3.53 AC |
| Building Size | 1,272 SF |
| No. Stories | 1 |
| Year Built | 1976 |
| Zoning | C-2 |
Amenities
- Signage
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $1,212,830 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,212,830
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498 W Central Blvd
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