Self-Storage Units on 2.82
For Sale
$399,000
16410 Bayard Street, Minerva, OH 44657
Fenced self-storage facility with expansion potential near St. Rt. 183.
Property Size4,500 SF
Lot Size2.82 Acres
Days on Market162
Property Features for 16410 Bayard Street
General Information
Standard status
Active
Size
4,500 SF
Lot size
2.82 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,785
Building Details
Building Size
4,500 SF
Year Built
2002
Listing Agency:
Kiko
(330) 453-9187
Listed By:
Theresa M Blocher
(330) 495-3789
Source:
Carolgoffrealestate
Added: Mar 27
Changed: Sep 3
Last Checked: Aug 25 at 9:11AM
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 Kiko
Investment Insights
Based on property information with market context.
This property features self-storage units with a history of good rental and occupancy. Situated on 2.82 acres, the site is fenced and includes an electric controlled gate entrance and security cameras. The lot is firm and offers ample room for expansion. In addition to the storage units, there are 8 storage rental containers, as well as space for camper, boat, and trailer storage. The property operates without zoning restrictions. The electric gate system is maintained by Integrity Electric, ensuring access is limited to current tenants. WiFi is provided by Spectrum, and AEP Electric supplies the power. Exterior lighting is in place, and Southway fencing, consisting of 6 ft chainlink with a barbed top, surrounds the perimeter. There are 33 rented units, with some vacancy, and one unit is used by the owner to house electric service. A manual gate is located at the back entrance. The website software costs $137 per month. The property is located in Paris Township, Stark County, with easy access off St. Rt. 183, just north of Minerva. The average monthly income ranges from $3,500 to $4,000.
Key Highlights
- Strong income potential: Average monthly income of $3,500-$4,000 with good rental history.
- Expansion possibilities: 2.82‑acre lot with ample room for future development.
- Secure facility: Fenced perimeter with electric controlled gate entrance and security cameras.
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
$15,204
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
3.81%
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%
$304,080
$304.1K
Cap Rate 7%
$217,200
$217.2K
Cap Rate 9%
$168,933
$168.9K
Market Conditions
NOI Build-Up for 4,500 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
$22.1K $4.91/SF
− Vacancy
−$376 −$0.08/SF
EGI
$21.7K $4.83/SF
− OpEx
−$6.5K −$1.45/SF
NOI
$15.2K $3.38/SF
Area
Stark County, OH
Vacancy
1.70%
Lease Rate
$4.91 /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%
$304,080
Cap Rate 7%
$217,200
Cap Rate 9%
$168,933
Alternative Uses
Best Use
Self Storage
$639.9K
$559.9K – $746.6K
NOI $44,793 @ 7.0% cap · market cap 11.23%
Second Best
Industrial
$217.2K
$190.1K – $253.4K
NOI $15,204 @ 7.0% cap · market cap 3.81%
Theoretical Best
Retail
$1.17M
$1.03M – $1.37M
NOI $82,243 @ 7.0% cap · market cap 20.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 44657, OH
9,916
Population
4,540
Households
2.2
Avg Household Size
44
Median Age
10%
College-Educated
90%
High-School Grad
63.2 sq mi
ZIP Area
157
Density / Sq Mi
$60,490
Median Household Income
$41,190
Median Earnings
$795
Median Rent
$157,400
Median Home Value
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 - Fenced self-storage facility with expansion potential near St. Rt. 183.
Where is this self storage facility located?
The property is located at 16410 Bayard Street Minerva, OH.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Strong income potential: Average monthly income of $3,500-$4,000 with good rental history.; Expansion possibilities: 2.82‑acre lot with ample room for future development.; Secure facility: Fenced perimeter with electric controlled gate entrance and security cameras.
