Salem Storage and Warehouse Complex
Northville, MI
Asking price
$2,900,000
Units
327
Cap rate
—
Price / unit
$8,869
What it would have to earn
This listing does not publish an NOI, so its return cannot be computed. These are the figures it would need to hit at the asking price — a screen to take to the broker, not a claim about the property.
- A 6% cap rate at this asking price
- $174,000($532/unit)
- A 8% cap rate at this asking price
- $232,000($709/unit)
- A 10% cap rate at this asking price
- $290,000($887/unit)
Annual net operating income, before financing. Cap rates vary by asset class and market; these three are a range to screen against, not a market rate for this property.
Only 1 listing in self-storage facilities discloses a cap rate — too few to publish a range, so this screen has nothing disclosed to check it against.
Add financing and run the full numbers →About this property
Argus Self Storage Property Listings Listings Who We Are Find A Broker What We Do News & Research Market Monitor Presentations Industry News Closings Contact Listings Who We Are Find A Broker What We Do News & Research Market Monitor Presentations Industry News Closings Contact Salem Storage and Warehouse Complex Back to Results NEW Northville, MI $2,900,000 Salem Storage and Warehouse Complex presents a rare opportunity to acquire a high-performing self storage and RV/Boat storage facility in Northville, Michigan. Situated on 16.50 +/- acres, the fully fenced and gated facility features 327 units and 127,128 NRSF of RV/Boat storage that is 96% occupied. The facility also offers 13,700 SF of commercial warehouse space that is 100% leased, a 1,000 SF self storage building, and two leased residential houses. The property benefits from a growing demand base, with approximately 439,957 residents within 10 miles and 3.9% projected population growth. Ownership has the opportunity to implement measured rental rate increases, capture ancillary income, and convert select open-air spaces to covered parking. Strong occupancy and multiple revenue-enhancement opportunities provide durable cash flow with meaningful upside. $2,900,000 View Executive Summary Request Offering Memorandum All fields are required. I am a Principal I am a Broker I accept the Disclaimer . Property Info $2,900,000 127,128 SF Boat/RV 336 Units 16.5+/- Acres Contact Listing Broker Listing Broker Kevin Friedman Hayes Ventures [phone — unlock to view] Email Stay Connected Contact Us 1-800-55-STORE Contact Us 5460 S. Quebec Street Suite 100 Greenwood Village, CO 80111 [email — unlock to view] Join Argus Interested in becoming an Argus Broker Affiliate? Learn How © 2026 Argus Self Storage Advisors.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $2,900,000 |
|---|---|
| Units | 327 |
| Price per unit | $8,869 |
| Building size | 127,128 sq ft |
| First seen by UnitListed | Oct 8, 2026 |
| Source page last checked | Oct 8, 2026 |
| Source last changed | Oct 8, 2026 |
Trade area · Wayne, MI
4 of 6 availableContext about the county from the public record — not from the seller, and not a valuation. The seller's own figures are shown separately above and are never mixed with these.
Wayne, MI has 41 lessors of miniwarehouses and self-storage units recorded by Census across 1,773,767 residents — about 43,263 people per facility.
- Mapped competitors within 10 miles
- 66
- Residents per competing facility
- 43,263
- Renter-occupied housing
- 35.5%
- Median SBA loan approved, this asset class
- —
- SBA loans in this industry that charged off
- —
- FEMA composite risk rating
- Relatively High
OpenStreetMap contributors · current
US Census County Business Patterns + ACS · 2022 · county level
US Census ACS 5-year, table B25003 · 2023 · county level
Only 1 loan recorded — too few to publish a median. The count is shown instead.
SBA 7(a) and 504 FOIA loan disclosures · FY2023-FY2023 · county level
Only 1 loan on record; a default rate over that few is noise.
SBA 7(a) and 504 FOIA loan disclosures · FY2023-FY2023 · county level
FEMA National Risk Index · 2025 · county level
Sources: US Census Bureau (County Business Patterns, American Community Survey), US Small Business Administration 7(a)/504 loan disclosures, FEMA National Risk Index, and © OpenStreetMap contributors. Public records describe a county, not this property.
Before you call the broker
8 things are not disclosed on this listing. These are the questions that would close the gap — specific to a storage facility, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Physical vs economic occupancy — not disclosed
What is physical occupancy, and what is economic occupancy?
A facility can be 92% full and still be collecting far less, through concessions and delinquency. Physical occupancy alone flatters the deal.
Climate-controlled share — not disclosed
How many units are climate-controlled, and what is the rate premium?
Climate-controlled space earns more per square foot and costs more to run. The mix changes both sides of the model.
Expansion land and entitlements — not disclosed
Is there expansion land, and has anything been entitled or permitted?
Often the whole thesis in storage. Also the difference between a plan and a permit.
How it is managed today — not disclosed
Is this staffed, remotely managed or unmanned, and does a management contract transfer?
Decides whether the expense line you are shown survives the sale.
Asking price — disclosed
Currency of the asking price — disclosed
Unit mix and rent roll — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Oct 8, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Oct 8, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
