Building Details

Year Built 1985

Buildings 11

Stories 1

Units 469

Tenancy Multi

Listing Agency: Franklin Street Tampa

Listed By: David Perlleshi · License #FL 333662

Source: Crexi

Added: Jul 23 Changed: Sep 7 Last Checked: Sep 14 at 7:20AM

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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 Franklin Street Tampa

Investment Insights

Based on property information with market context.

Storage Point Portfolio is a stabilized self-storage portfolio with 469 non-climate units totaling 64,596 NRSF, along with 47 outdoor parking rentals. The portfolio is spread across two locations in the Pittsburgh MSA, with the facilities less than 15 miles apart in Butler County, supporting management efficiencies.

One of the facilities is at 609 Market St, Zelienople, PA 16063. The portfolio’s facilities were built in 1985.

For operators, this configuration provides a mix of enclosed storage (non-climate units) and outdoor parking rentals, all within the same broader market area of Butler County north of Pittsburgh.

Key Highlights

• 469 non‑climate self‑storage units totaling 64,596 NRSF
• 47 outdoor parking rentals included
• Two locations in Butler County

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

$374,398

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

5.04%

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%

$7,487,960 $7.5M

Cap Rate 7%

$5,348,543 $5.3M

Cap Rate 9%

$4,159,978 $4.2M

Market Conditions

NOI Build-Up for 64,596 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

$581.4K $9.00/SF

− Vacancy

−$46.5K −$0.72/SF

EGI

$534.9K $8.28/SF

− OpEx

−$160.5K −$2.48/SF

NOI

$374.4K $5.80/SF

Area

Butler County, PA

Vacancy

8.00%

Lease Rate

$9.00 /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%

$7,487,960

Cap Rate 7%

$5,348,543

Cap Rate 9%

$4,159,978

Alternative Uses

Best Use

Self Storage

$5.35M

$4.68M – $6.24M (±1% cap)

NOI $374,398 @ 7.0% cap · market cap 5.04%

Second Best

Warehouse

$3.80M

$3.32M – $4.43M (±1% cap)

NOI $265,660 @ 7.0% cap · market cap 3.58%

Theoretical Best

Office A

$16.45M

$14.40M – $19.20M (±1% cap)

NOI $1,151,752 @ 7.0% cap · market cap 15.50%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

U-Haul Neighborhood Dealer Car Rental Facility Zelienople Mini Storage Storage Facility

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage HVAC Service Grocery & Convenience Store (Bike/Boat/Book/etc) Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

258

Businesses Nearby

Explore this area Business Placement

Demographics for 16063, PA

7,596

Population

3,541

Households

2.1

Avg Household Size

47

Median Age

42%

College-Educated

96%

High-School Grad

17.0 sq mi

ZIP Area

447

Density / Sq Mi

$86,533

Median Household Income

$53,025

Median Earnings

$1,166

Median Rent

$294,100

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Self storage facility - Portfolio includes 469 non-climate storage units plus 47 outdoor parking rentals across two Butler County locations.

Where is this self storage facility located?

The property is located at 609 Market St Zelienople, PA.

What is the asking price?

The asking price for this property is $7,429,000.

What are key features of this property?

This property features: 469 non‑climate self‑storage units totaling 64,596 NRSF; 47 outdoor parking rentals included; Two locations in Butler County