Heated Self-Storage
For Sale
$125,900
6-10006 Milan Rd, Milan, OH 44846
Versatile storage space with 24/7 access, a remote door opener, and shared owner amenities.
Property Size1,320 SF
Price / SF$95.38
Days on Market52
Property Features for 6-10006 Milan Rd
General Information
Standard status
Active
Size
1,320 SF
Warehouse & Industrial
Clear Height
16 ft
Voltage
220 V
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,060
Amenities
24/7 access
remote door opener
shared restroom with toilet, stove, refrigerator, meeting room
Listing Agency:
RE/MAX Quality Realty - Sandusky
(419) 627-1996
Listed By:
Jim Ashton
(419) 656-0576
Source:
Exprealty
Added: Jul 26
Changed: Sep 15
Last Checked: Sep 14 at 9:33AM
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 Quality Realty - Sandusky
Investment Insights
Based on property information with market context.
This heated self-storage condo offers approximately 1,320 square feet of versatile space with dimensions of 22 by 60 feet and a 16-foot ceiling height. The fully drywalled interior includes a breaker box with a 220 outlet, supporting storage of boats, RVs, classic cars, business equipment, and personal collections. The unit includes 24/7 access and a remote door opener.
Owners also have access to a shared restroom located behind the main office, along with a toilet, stove, refrigerator, and meeting room. The property is located on State Route 250 at 6-10006 Milan Rd in Milan, Ohio, across from Diyanni Homes and Wayne Homes. Lake Erie Arms is on the same side of State Route 250.
Owners also have access to a shared restroom located behind the main office, along with a toilet, stove, refrigerator, and meeting room. The property is located on State Route 250 at 6-10006 Milan Rd in Milan, Ohio, across from Diyanni Homes and Wayne Homes. Lake Erie Arms is on the same side of State Route 250.
Key Highlights
- Approximately 1,320 square feet with 22x60 dimensions
- 16' ceiling height accommodates boats, RVs, classic cars, and other large items
- Heated, fully drywalled storage condo
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
$11,404
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
9.06%
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%
$228,080
$228.1K
Cap Rate 7%
$162,914
$162.9K
Cap Rate 9%
$126,711
$126.7K
Market Conditions
NOI Build-Up for 1,320 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
$17.4K $13.20/SF
− Vacancy
−$1.1K −$0.86/SF
EGI
$16.3K $12.34/SF
− OpEx
−$4.9K −$3.70/SF
NOI
$11.4K $8.64/SF
Area
Erie County, OH
Vacancy
6.50%
Lease Rate
$13.20 /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%
$228,080
Cap Rate 7%
$162,914
Cap Rate 9%
$126,711
Alternative Uses
Best Use
Self Storage
$162.9K
$142.6K – $190.1K
NOI $11,404 @ 7.0% cap · market cap 9.06%
Second Best
Warehouse
$94.1K
$82.3K – $109.8K
NOI $6,586 @ 7.0% cap · market cap 5.23%
Theoretical Best
Multifamily LT 5
$14.53M
$12.71M – $16.95M
NOI $1,016,852 @ 7.0% cap · market cap 807.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 44846, OH
3,322
Population
1,334
Households
2.5
Avg Household Size
44
Median Age
32%
College-Educated
96%
High-School Grad
22.3 sq mi
ZIP Area
149
Density / Sq Mi
$97,109
Median Household Income
$44,323
Median Earnings
$963
Median Rent
$235,200
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 - Versatile storage space with 24/7 access, a remote door opener, and shared owner amenities.
Where is this self storage facility located?
The property is located at 6-10006 Milan Rd Milan, OH.
What is the asking price?
The asking price for this property is $125,900.
What are key features of this property?
This property features: Approximately 1,320 square feet with 22x60 dimensions; 16' ceiling height accommodates boats, RVs, classic cars, and other large items; Heated, fully drywalled storage condo
