New Self-Storage Facility For
For Sale
$3,400,000
1627 Scarbrough Drive, Piqua, OH 45356
Brand new self-storage facility with RV storage and expansion potential.
Property Size32,568 SF
Price / SF$104.40
Days on Market261
Property Features for 1627 Scarbrough Drive
General Information
Standard status
Active
Size
32,568 SF
Property subtype
Special Purpose
Building Details
Building Size
32,568 SF
Year Built
2024
Listing Agency:
NAI Bergman
(937) 673-4366
Listed By:
Scott Kaster · License #OH #SAL.2009000788
(937) 673-4366
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:11PM
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 NAI Bergman
Investment Insights
Based on property information with market context.
A newly constructed self-storage facility, completed in 2024, is available for purchase. The property features three completed buildings, with plans for up to seven more, and ample room for outdoor storage. The first two buildings measure 330'x30' and contain (8) 10x10 units, (66) 10x15 units, (8) 10x20 units, and (25) 10x30 units. The third building is designed for RV storage, offering (19) 14'x48' deep units with oversized doors, lighting, and ample side clearance. The facility is located off I75 at County Road 25a, providing easy access from Interstate 75. It is situated across the street from Camping World at exit 83. A 15-year tax abatement is in place.
Key Highlights
- Brand new self‑storage facility built in 2024.
- 15‑year tax abatement in place.
- Located just off I‑75 with easy 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
$297,673
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
8.76%
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%
$5,953,460
$6.0M
Cap Rate 7%
$4,252,471
$4.3M
Cap Rate 9%
$3,307,478
$3.3M
Market Conditions
NOI Build-Up for 32,568 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
$457.3K $14.04/SF
− Vacancy
−$32.0K −$0.98/SF
EGI
$425.2K $13.06/SF
− OpEx
−$127.6K −$3.92/SF
NOI
$297.7K $9.14/SF
Area
Miami County, OH
Vacancy
7.00%
Lease Rate
$14.04 /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%
$5,953,460
Cap Rate 7%
$4,252,471
Cap Rate 9%
$3,307,478
Alternative Uses
Best Use
Industrial
$5.13M
$4.49M – $5.98M
NOI $358,871 @ 7.0% cap · market cap 10.56%
Second Best
Self Storage
$4.25M
$3.72M – $4.96M
NOI $297,673 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$6.64M
$5.81M – $7.74M
NOI $464,633 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 45356, OH
25,106
Population
11,353
Households
2.2
Avg Household Size
41
Median Age
15%
College-Educated
89%
High-School Grad
75.5 sq mi
ZIP Area
333
Density / Sq Mi
$66,134
Median Household Income
$38,323
Median Earnings
$900
Median Rent
$144,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Brand new self-storage facility with RV storage and expansion potential.
Where is this self storage facility located?
The property is located at 1627 Scarbrough Drive Piqua, OH.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Brand new self‑storage facility built in 2024.; 15‑year tax abatement in place.; Located just off I‑75 with easy access.
