Turn-Key Mini Storage
For Sale
$799,000
370 S Sheridan St, York, PA 17401
46-unit mini storage facility with security-gated interior units and drive-up exterior access.
Property Size8,924 SF
Price / SF$89.53
Days on Market43
Property Features for 370 S Sheridan St
General Information
Standard status
Active
Size
8,924 SF
Amenities
security-gated area
drive-up access
Building Details
Year Built
2017
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 577-6077
Listed By:
Kim E Moyer · License #AB046829A
Source:
Kandorre
Added: Jul 20
Changed: Aug 10
Last Checked: Aug 30 at 7:39PM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This turn-key mini storage facility offers 46 individual storage units housed in a durable block building. Units 1–31 are located within a security-gated area, and Unit 31 is currently configured as an on-site office. Units 32–46 are positioned along the exterior of the building for convenient drive-up access. Each unit is equipped with an overhead, garage-style door and heavy-duty locking systems.
The property is situated on a corner parcel with convenient ingress and egress and is located just off Richland Avenue near BAE Systems in York’s west end. York College and the future York Creek Redevelopment Project are minutes away.
The facility is described as extremely clean, well-organized, and operating efficiently, providing an immediately income-focused storage configuration for the buyer.
The property is situated on a corner parcel with convenient ingress and egress and is located just off Richland Avenue near BAE Systems in York’s west end. York College and the future York Creek Redevelopment Project are minutes away.
The facility is described as extremely clean, well-organized, and operating efficiently, providing an immediately income-focused storage configuration for the buyer.
Key Highlights
- 46‑unit mini storage facility built in 2017 for long‑term ownership and ongoing income
- Units 1–31 are in a security‑gated area for enhanced access control
- Units 32–46 are exterior‑facing with convenient drive‑up access
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
$63,228
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
7.91%
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%
$1,264,560
$1.3M
Cap Rate 7%
$903,257
$903.3K
Cap Rate 9%
$702,533
$702.5K
Market Conditions
NOI Build-Up for 8,924 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
$78.8K $8.83/SF
− Vacancy
−$4.4K −$0.49/SF
EGI
$74.4K $8.34/SF
− OpEx
−$11.2K −$1.25/SF
NOI
$63.2K $7.09/SF
Area
York County, PA
Vacancy
5.60%
Lease Rate
$8.83 /SF/Yr
Expense Ratio
15.00%
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%
$1,264,560
Cap Rate 7%
$903,257
Cap Rate 9%
$702,533
Alternative Uses
Best Use
Self Storage
$1.24M
$1.09M – $1.45M
NOI $87,143 @ 7.0% cap · market cap 10.91%
Second Best
Warehouse
$903.3K
$790.4K – $1.05M
NOI $63,228 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,867 @ 7.0% cap · market cap 22.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
830
Businesses Nearby
Explore this area
Business Placement
Demographics for 17401, PA
18,771
Population
8,202
Households
2.3
Avg Household Size
32
Median Age
16%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
12,514
Density / Sq Mi
$41,569
Median Household Income
$30,329
Median Earnings
$940
Median Rent
$84,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - 46-unit mini storage facility with security-gated interior units and drive-up exterior access.
Where is this self storage facility located?
The property is located at 370 S Sheridan St York, PA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 46‑unit mini storage facility built in 2017 for long‑term ownership and ongoing income; Units 1–31 are in a security‑gated area for enhanced access control; Units 32–46 are exterior‑facing with convenient drive‑up access
