Self Storage Facility with
5545 French Creek Rd, Sheffield Lake, OH 44054
For Sale
New
$4,400,000
The property pairs non-climate-controlled storage units with dedicated outdoor parking spaces.
Property Size36,750 SF
Price / SF$119.73
Days on Market2
Property Features for 5545 French Creek Rd
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Warehouse & Industrial
Cold Storage
Self-Storage Units
Additional Details
Cap Rate
Property Use
Amenities
Cleveland, Ohio MSA Self-Storage Offering
Located Approximately 20 Miles West of Downtown Cleveland in the Growing and Affluent City of Sheffield Lake, Ohio
36,750 Net Rentable Square Feet of Self-Storage (Excluding Uncovered Parking)
249 Non-Climate-Controlled Self-Storage Units and 44 Uncovered Outdoor Parking Spaces
Building Details
Building Size
Year Built
Units
Listing Agency:
Marcus & Millichap - Columbus
Listed By:
Nathan Coe · License #License(s): OH: SAL.2015003418
(614) 360-9801
Source:
Marcusmillichap
Added: Nov 8
Last Checked: Nov 8 at 2:26PM
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 Marcus & Millichap - Columbus
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1994, this self storage property contains 249 non-climate-controlled units totaling 36,750 net rentable square feet. A separate outdoor parking area provides 44 spaces, with its area excluded from the rentable square footage total.
The facility is at 5545 French Creek Rd in Sheffield Lake, Ohio, approximately 20 miles west of downtown Cleveland.
The facility is at 5545 French Creek Rd in Sheffield Lake, Ohio, approximately 20 miles west of downtown Cleveland.
Key Highlights
- 249 non‑climate‑controlled storage units
- 36,750 net rentable square feet
- 44 outdoor parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$350,066
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,001,320
$7.0M
Cap Rate 7%
$5,000,943
$5.0M
Cap Rate 9%
$3,889,622
$3.9M
Market Conditions
NOI Build-Up for 36,750 SF
Gross rent
$529.2K $14.40/SF
− Vacancy
−$29.1K −$0.79/SF
EGI
$500.1K $13.61/SF
− OpEx
−$150.0K −$4.08/SF
NOI
$350.1K $9.53/SF
Area
Lorain County, OH
Vacancy
5.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,001,320
Cap Rate 7%
$5,000,943
Cap Rate 9%
$3,889,622
Alternative Uses
Best Use
Self Storage
$5.00M
$4.38M – $5.83M
NOI $350,066 @ 7.0% cap · market cap 7.96%
Second Best
Warehouse
$2.41M
$2.11M – $2.81M
NOI $168,583 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$9.26M
$8.10M – $10.80M
NOI $648,270 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Explore this area
Business Placement
Demographics for 44054, OH
12,484
Population
6,059
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
999
Density / Sq Mi
$73,151
Median Household Income
$47,207
Median Earnings
$1,059
Median Rent
$177,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - The property pairs non-climate-controlled storage units with dedicated outdoor parking spaces.
Where is this self storage facility located?
The property is located at 5545 French Creek Rd Sheffield Lake, OH.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 249 non‑climate‑controlled storage units; 36,750 net rentable square feet; 44 outdoor parking spaces
