Warehouse with Secured Yard and
For Sale
$385,000
113 E Kress St, Russells Point, OH
Versatile commercial warehouse with two overhead doors and an on-site fenced lot, plus living quarters for flexible operations.
Property Size4,000 SF
Lot Size0.75 Acres
Price / SF$96.25
Days on Market131
Property Features for 113 E Kress St
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.75 Acres
Zoning
M1
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Drive-In Doors
2
Building Details
Stories
2
Listing Agency:
Choice Properties Real Estate
(937) 842-2244
Listed By:
Diane (Teri) P. Frymyer · License #0000441262
(937) 842-2244
Source:
Exprealty
Added: Apr 17
Changed: Aug 23
Last Checked: Aug 25 at 8:33AM
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 Choice Properties Real Estate
Investment Insights
Based on property information with market context.
The property is a 3,200 sq. ft. commercial building with an additional 800 sq. ft. second-floor area on a fenced 0.75-acre lot. Access includes two 12 x 17 overhead garage doors with electric openers. Interior finishes include 6-inch concrete floors, LED lighting, and a header built for an awning. Utilities are available on-site, including gas, electric, sewer, and water. The fenced perimeter uses 4 x 4 wire fencing for added security.
The building is set up for practical storage and work needs, with space that can support secured storage of vehicles and equipment. The second floor and building layout also include living quarters with an open-concept kitchen/living area, a full bath, and a large bedroom. Additional in-unit conveniences include a washer/dryer, slop sink, and a hot water heater, along with ceiling fans.
Zoned M1 commercial, the property is positioned for business, workshop, or secure storage uses consistent with that zoning. The information provided notes that a zoning change could allow residential use, including a potential application for R2 (medium density residential) pending approval. This combination of functional storage features and optional living space can fit operators who need on-site flexibility.
The building is set up for practical storage and work needs, with space that can support secured storage of vehicles and equipment. The second floor and building layout also include living quarters with an open-concept kitchen/living area, a full bath, and a large bedroom. Additional in-unit conveniences include a washer/dryer, slop sink, and a hot water heater, along with ceiling fans.
Zoned M1 commercial, the property is positioned for business, workshop, or secure storage uses consistent with that zoning. The information provided notes that a zoning change could allow residential use, including a potential application for R2 (medium density residential) pending approval. This combination of functional storage features and optional living space can fit operators who need on-site flexibility.
Key Highlights
- 2015‑built 3,200 sq. ft. commercial building with an additional 800 sq. ft. second floor, located on a 0.75‑acre fenced lot in Russells Point.
- Two 12x17 overhead garage doors with electric openers for vehicle, RV, boat, and equipment storage.
- On‑site utilities include gas, electric, sewer, and water, with 6" concrete floors.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,748
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$674,960
$675.0K
Cap Rate 7%
$482,114
$482.1K
Cap Rate 9%
$374,978
$375.0K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.8K $12.96/SF
− Vacancy
−$3.6K −$0.91/SF
EGI
$48.2K $12.05/SF
− OpEx
−$14.5K −$3.62/SF
NOI
$33.7K $8.44/SF
Area
Montgomery County, OH
Vacancy
7.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$674,960
Cap Rate 7%
$482,114
Cap Rate 9%
$374,978
Alternative Uses
Best Use
Self Storage
$482.1K
$421.9K – $562.5K
NOI $33,748 @ 7.0% cap · market cap 8.77%
Second Best
Warehouse
$365.5K
$319.8K – $426.4K
NOI $25,586 @ 7.0% cap · market cap 6.65%
Theoretical Best
Multifamily LT 5
$37.83M
$33.10M – $44.14M
NOI $2,648,268 @ 7.0% cap · market cap 687.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Versatile commercial warehouse with two overhead doors and an on-site fenced lot, plus living quarters for flexible operations.
Where is this self storage facility located?
The property is located at 113 E Kress St Russells Point, OH.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 2015‑built 3,200 sq. ft. commercial building with an additional 800 sq. ft. second floor, located on a 0.75‑acre fenced lot in Russells Point.; Two 12x17 overhead garage doors with electric openers for vehicle, RV, boat, and equipment storage.; On‑site utilities include gas, electric, sewer, and water, with 6" concrete floors.
