9425 W Ridge Rd - Self-Storage Facilities FOR SALE


Elyria, OH 44035
$1,950,000 USD
813-210-9633
9425 W Ridge Rd, Elyria, OH for Sale
$1,950,000 USD
Self-Storage Facilities - FOR SALE
1/22
null | Request Cap Rate

9425 W Ridge Rd
Elyria, OH 44035


HIGHLIGHTS

  • Low existing supply at 7.24sf/cap within 5 miles.
  • Achieving top of market rates with only $1,389 in annual ad spend.
  • Ability to be ran remotely for enhanced NOI.
  • 43% renter occupied homes in the 3 mile radius.

OVERVIEW

Owner operated site offering a variety of management value add opportunities, currently doing no TI program. 200 units with a physical unit occupancy of 78% and one apartment with 2,000 SF. The site has a strong recent performance. Since August 2023, the physical occupancy has grown 4%, economic occupancy has grown 8.7%, and the effective rate has grown 8.5%. The property has an expansion opportunity of 4,000 NRSF with additional expansion room where proposed parking will go. There is approximately 9,200 SF of unused space which can be used for parking immediately.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$80 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

West Ridge Mini Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

2.5 AC

LAND SF

108,900 SF

ZONING

L-I

APN/PARCEL ID

06-24-001-000-042

ASK ABOUT THIS PROPERTY

Hunter SellsJDS Real Estate Services, Inc.More Info
813-210-9633

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Hunter SellsJDS Real Estate Services, Inc.More Info
813-210-9633

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.