Self Storage
111 Tremont City Rd, Springfield, OH 45502
For Sale
$3,275,000
Built in 1996, the facility is currently 92% occupied.
Property Size54,438 SF
Price / SF$60.16
Days on Market95
Property Features for 111 Tremont City Rd
General Information
Standard status
Size
Property subtype
Occupancy
Amenities
Strong In-Place Cash Flow
Significant Revenue Upside
High Physical Occupancy of 93.63 Percent
Large, Well-Located Facility
Strong Long-Term Returns
Favorable Springfield, Ohio Market Fundamentals
Building Details
Building Size
Year Built
Units
Listing Agency:
Chicago Oak Brook Office
Listed By:
Jeff Herrmann
(630) 570-2223
Source:
Marcusmillichap
Added: Aug 9
Changed: Nov 9
Last Checked: Nov 10 at 5:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chicago Oak Brook Office
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Investment Insights
Based on property information with market context.
This self-storage facility was constructed in 1996 and is currently 92% occupied. The property is offered as a self-storage asset with existing occupancy and operating history.
Key Highlights
- 92% current occupancy
- Constructed in 1996
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$271,631
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,432,620
$5.4M
Cap Rate 7%
$3,880,443
$3.9M
Cap Rate 9%
$3,018,122
$3.0M
Market Conditions
NOI Build-Up for 54,438 SF
Gross rent
$348.9K $6.41/SF
− Vacancy
−$29.4K −$0.54/SF
EGI
$319.6K $5.87/SF
− OpEx
−$47.9K −$0.88/SF
NOI
$271.6K $4.99/SF
Area
Clark County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,432,620
Cap Rate 7%
$3,880,443
Cap Rate 9%
$3,018,122
Alternative Uses
Best Use
Self Storage
$6.83M
$5.97M – $7.96M
NOI $477,857 @ 7.0% cap · market cap 14.59%
Second Best
Warehouse
$3.88M
$3.40M – $4.53M
NOI $271,631 @ 7.0% cap · market cap 8.29%
Theoretical Best
Specialty Retail
$15.18M
$13.29M – $17.72M
NOI $1,062,905 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
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Business Placement
Demographics for 45502, OH
16,767
Population
7,073
Households
2.4
Avg Household Size
46
Median Age
23%
College-Educated
92%
High-School Grad
115.3 sq mi
ZIP Area
145
Density / Sq Mi
$87,378
Median Household Income
$49,402
Median Earnings
$886
Median Rent
$225,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - Built in 1996, the facility is currently 92% occupied.
Where is this self storage facility located?
The property is located at 111 Tremont City Rd Springfield, OH.
What is the asking price?
The asking price for this property is $3,275,000.
What are key features of this property?
This property features: 92% current occupancy; Constructed in 1996
