Building Details

Building Size 5,920 SF

Year Built 2024

Buildings 1

Construction steel

Listing Agency: Real of Ohio

Listed By: Christine Revay · License #2022007949 Show Phone

Source: Asacoxhomes

Added: Oct 14 Changed: Oct 21 Last Checked: Oct 21 at 2:39AM

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Investment Insights

Based on property information with market context.

Built in 2024, the steel storage building contains 5,920 square feet and eight drive-in bays: five individual bays and three connected bays. Concrete floors and 16-foot sidewalls serve the existing building. Plans include eight overhead door openings, each 10 feet wide by 14 feet high. The property totals 2.83 acres and has approval for a six-building layout, allowing for phased development beyond the structure already in place.

LI-1 Light Industrial zoning applies. The identified potential uses include contractor, equipment, and commercial vehicle storage, along with other compatible business uses. The existing bays may be used by an owner or leased individually, and the site plan provides for additional buildings.

Key Highlights

• 2.83‑acre property with approval for a six‑building layout
• 5,920‑square‑foot steel storage building constructed in 2024
• Eight drive‑in bays: five individual and three connected

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,392

Cap Rate

5.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,127,840 $1.1M

Cap Rate 7%

$805,600 $805.6K

Cap Rate 9%

$626,578 $626.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,920 SF

Gross rent

$85.2K $14.40/SF

− Vacancy

−$4.7K −$0.79/SF

EGI

$80.6K $13.61/SF

− OpEx

−$24.2K −$4.08/SF

NOI

$56.4K $9.53/SF

Area

Lorain County, OH

Vacancy

5.50%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,127,840

Cap Rate 7%

$805,600

Cap Rate 9%

$626,578

Alternative Uses

Best Use

Self Storage

$805.6K

$704.9K – $939.9K (±1% cap)

NOI $56,392 @ 7.0% cap · market cap 5.53%

Second Best

Warehouse

$388.0K

$339.5K – $452.6K (±1% cap)

NOI $27,157 @ 7.0% cap · market cap 2.66%

Theoretical Best

Office A

$1.49M

$1.31M – $1.74M (±1% cap)

NOI $104,429 @ 7.0% cap · market cap 10.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Self storage facilities

Suggested Use

Top Pick Restaurant Building Supply Big Box & Wholesale Store Auto Parts Store Nail Salon HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16 ft

Clear height

8

Drive-in doors

Location Intelligence

Trade Area within ½ mile

120

Businesses Nearby

Explore this area Business Placement

Demographics for 44028, OH

8,931

Population

3,907

Households

2.3

Avg Household Size

48

Median Age

32%

College-Educated

93%

High-School Grad

33.6 sq mi

ZIP Area

266

Density / Sq Mi

$86,991

Median Household Income

$55,761

Median Earnings

$1,438

Median Rent

$313,400

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Self storage facility - LI-1 zoning and a planned six-building configuration support storage uses on this commercial property.

Where is this self storage facility located?

The property is located at 12209 Eaton Commerce Parkway Columbia Station, OH.

What is the asking price?

The asking price for this property is $1,020,000.

What are key features of this property?

This property features: 2.83‑acre property with approval for a six‑building layout; 5,920‑square‑foot steel storage building constructed in 2024; Eight drive‑in bays: five individual and three connected