Remodeled Storage Facility with Light Industrial
For Sale
$1,500,000
Pending
4651 State Rd, Peninsula, OH 44264
Remodeled facility with 129 non-climate units and a 13,000 sf light industrial building for added income.
Property Size13,000 SF
Days on Market134
Property Features for 4651 State Rd
General Information
Standard status
Pending
Size
13,000 SF
Occupancy
72%
Listing Agency:
RE/MAX Oasis Dream Homes
(330) 730-7389
Listed By:
Thomas J Coffman · License #SAL.2016000377
(330) 730-7389
Source:
Exprealty
Added: Mar 19
Changed: Jul 10
Last Checked: Jul 29 at 12:20PM
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 RE/MAX Oasis Dream Homes
Investment Insights
Based on property information with market context.
This remodeled self-storage property includes 129 non-climate-controlled storage units plus a 13,000 square foot building zoned light industrial. A “Clean Phase 1” is scheduled for April 2026, with the facility positioned as a turn-key storage and flex industrial use combination.
The property is located at 4651 State Rd in Peninsula, OH. The 13,000 sf light industrial building is currently being rented at $6,300 per month, and the storage units are currently reported as 72% occupied.
For buyers looking for a storage asset with an attached light industrial building, the mix of non-climate storage units and dedicated industrial space provides straightforward operating options. The current on-site income from the light industrial building, along with the existing unit occupancy level, may appeal to investors seeking a multi-component property structure built around self-storage and light industrial zoning.
The property is located at 4651 State Rd in Peninsula, OH. The 13,000 sf light industrial building is currently being rented at $6,300 per month, and the storage units are currently reported as 72% occupied.
For buyers looking for a storage asset with an attached light industrial building, the mix of non-climate storage units and dedicated industrial space provides straightforward operating options. The current on-site income from the light industrial building, along with the existing unit occupancy level, may appeal to investors seeking a multi-component property structure built around self-storage and light industrial zoning.
Key Highlights
- Completely remodeled storage facility with 129 non‑climate‑controlled units
- Includes a 13,000 SF light industrial building
- Large building is currently rented for $6,300/month
Financial Insights For Self Storage
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $171.6k | $13.20 |
| − Vacancy | −$12.0k | −$0.92 |
| EGI | $159.6k | $12.28 |
| − OpEx | −$47.9k | −$3.68 |
| NOI | $111.7k | $8.59 |
13,000 SF · lease $13.20/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Self Storage
$1.60M
$1.40M – $1.86M
NOI $111,712 @ 7.0% cap · market cap 7.45%
Second Best
Warehouse
$893.9K
$782.1K – $1.04M
NOI $62,570 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$3.19M
$2.79M – $3.72M
NOI $223,322 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
72%
Occupancy
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 44264, OH
3,370
Population
1,494
Households
2.3
Avg Household Size
43
Median Age
55%
College-Educated
98%
High-School Grad
22.4 sq mi
ZIP Area
150
Density / Sq Mi
$118,277
Median Household Income
$55,313
Median Earnings
$1,165
Median Rent
$354,900
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 - Remodeled facility with 129 non-climate units and a 13,000 sf light industrial building for added income.
Where is this self storage facility located?
The property is located at 4651 State Rd Peninsula, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Completely remodeled storage facility with 129 non‑climate‑controlled units; Includes a 13,000 SF light industrial building; Large building is currently rented for $6,300/month
