Drive-Up Self Storage
For Sale
$1,695,000
349 W Central Ave, Delaware, OH 43015
Combined storage and office improvements support multiple tenant configurations on a commercially improved site.
Property Size16,296 SF
Lot Size4.06 Acres
Price / SF$104.01
Days on Market72
Property Features for 349 W Central Ave
General Information
Standard status
Active
Size
16,296 SF
Lot size
4.06 Acres
Site & Location
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Office Build-Out
7,896 SF
Self-Storage Units
54
Additional Details
Office Units
5
Building Details
Tenancy
Multi
Listing Agency:
The Westwood Real Estate Co.
Listed By:
Douglas D Smith · License #658032331
(614) 710-1707
Source:
Thelorilynngroup
Added: Jul 27
Changed: Oct 4
Last Checked: Oct 5 at 9:15PM
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 The Westwood Real Estate Co.
Investment Insights
Based on property information with market context.
This self storage property occupies approximately 4.06 acres and combines 54 drive-up storage units totaling approximately 8,400 SF with approximately 7,896 SF of office space. The office component is arranged for five tenants, creating a mixed-use commercial configuration with storage and office improvements on the same site. Existing utilities and other site improvements support current functionality.
The property is located at 349 W Central Avenue in Delaware, Ohio, with access to downtown Delaware and the greater Columbus metropolitan area. West Central Avenue carries more than 15,000 vehicles per day, providing substantial exposure. The site also includes potential for expansion or redevelopment, subject to zoning and municipal approvals.
The property is located at 349 W Central Avenue in Delaware, Ohio, with access to downtown Delaware and the greater Columbus metropolitan area. West Central Avenue carries more than 15,000 vehicles per day, providing substantial exposure. The site also includes potential for expansion or redevelopment, subject to zoning and municipal approvals.
Key Highlights
- 54 drive‑up storage units totaling approximately 8,400 SF
- Approximately 7,896 SF of office space configured for five tenants
- Approximately 4.06‑acre commercial property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,600
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,772,000
$1.8M
Cap Rate 7%
$1,265,714
$1.3M
Cap Rate 9%
$984,444
$984.4K
Market Conditions
NOI Build-Up for 16,296 SF
Gross rent
$146.7K $9.00/SF
− Vacancy
−$20.1K −$1.23/SF
EGI
$126.6K $7.77/SF
− OpEx
−$38.0K −$2.33/SF
NOI
$88.6K $5.44/SF
Area
Delaware County, OH
Vacancy
13.70%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,772,000
Cap Rate 7%
$1,265,714
Cap Rate 9%
$984,444
Alternative Uses
Best Use
Warehouse
$3.28M
$2.87M – $3.83M
NOI $229,914 @ 7.0% cap · market cap 13.56%
Second Best
Office B
$2.87M
$2.51M – $3.34M
NOI $200,636 @ 7.0% cap · market cap 11.84%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Explore this area
Business Placement
Demographics for 43015, OH
57,563
Population
23,287
Households
2.5
Avg Household Size
38
Median Age
47%
College-Educated
96%
High-School Grad
127.9 sq mi
ZIP Area
450
Density / Sq Mi
$99,622
Median Household Income
$50,799
Median Earnings
$1,207
Median Rent
$311,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Combined storage and office improvements support multiple tenant configurations on a commercially improved site.
Where is this self storage facility located?
The property is located at 349 W Central Ave Delaware, OH.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 54 drive‑up storage units totaling approximately 8,400 SF; Approximately 7,896 SF of office space configured for five tenants; Approximately 4.06‑acre commercial property
