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32453848
32453829

457 TOM MANN RD, NEWPORT, NC 28570 For Sale

HT
NC NC 318611, SC SC 119135 (+1)
Midcoast Properties Inc
Listed by Midcoast Properties Inc
$1,600,000
67 days on market
Updated 67 days ago

Newport Mini Storage

Details
APN 633915524793000
Property Type Self Storage
Square Footage 13,850
Units 114
NOI $56,962
Occupancy 66.4%
Pro-Forma Cap Rate 7.18%
Pro-Forma NOI $114,941
Price per SqFt $116
Class B
Year Built 2013
Buildings 2
Stories 1
Acreage 6.480
Zoning CH - Commercial Highway
Parking Spaces 20 spaces
Parking per 1,000 SqFt 1.44
Investment Type Value Add

Well-Positioned Storage Asset with Acreage for Expansion in Rapidly Growing Coastal Market

Marketing description

Newport Mini Storage, located at 457 Tom Mann Rd in Newport, North Carolina, offers an attractive opportunity to acquire a well-positioned self-storage asset in a burgeoning coastal market.

The facility includes 114 standard drive-up and climate-controlled units along with parking, totaling approximately 13,850 rentable square feet. Its diverse unit mix and functional layout are well-suited to serve both residential and commercial tenants in the area.

Situated on a 6.48± acre parcel, the site offers potential for future expansion (buyer to verify). This additional land provides a meaningful opportunity for investors to increase rentable square footage and further capitalize on demand in the market.

The property features a strong set of amenities designed to meet modern tenant expectations. These include fencing around the storage facility and parking areas with digital gate-controlled

access, new LED exterior lighting in 2025, security cameras, online rentals and bill pay, and tenant insurance. Together, these features enhance security, convenience, and operational efficiency.

Newport and the surrounding Carteret County area continue to experience steady population growth. The town of Newport has grown consistently in recent years, supported by its coastal location and quality of life. This trend contributes to sustained demand for self-storage from both established and new residents. Carteret County has also demonstrated long-term population expansion, driven by in-migration and its appeal as a coastal destination. The area benefits from a mix of full-time residents, retirees, and seasonal visitors, all of whom contribute to

storage demand.

Investment highlights

  • 114 Standard Drive-Up and Climate-Controlled Units Plus Parking
  • Significant Upside on Rates and Occupancy
  • Easy Access and Good Visibility from Highway 70 ( vehicles/day)
  • New LED Exterior Lighting in 2025
  • Perimeter Fencing Around Storage Facility with Security Cameras
  • Online Rentals and Bill Pay
  • Well-Maintained Facility and Grounds
  • Potential To Expand on 6.48 +/- Acre Lot (Buyer to Verify)
  • High Growth Area with Strong Demographics

Listing Contacts

HT
NC NC 318611, SC SC 119135 (+1)
Midcoast Properties Inc
Listed by Midcoast Properties Inc

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$56,962.00
$4,746.83/mo

Valuation Metrics

0
DSCR
3.56%
Cap Rate
3.56%
ROI

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Additional Information

Name
Dale Eisenman
License
NC 198276
Brokerage
Midcoast Properties, Inc.
Title
Broker of Record
Brokerage Address
7 Heyward Place, Hilton Head Island, SC 29928
Name
Hal Tanner III
License
NC 318611
Brokerage
Midcoast Properties, Inc.
Brokerage Phone
843-342-7650
Brokerage Address
7 Heyward Place
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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