807 Virginia Ave, Ashland, OH 44805

Building Details

Year Built 2021 More

Listing Agency: RE/MAX First Realty, LLC

Listed By: Julie L Wallace · License #SAL.2018002803 Show Phone

Source: Northeastohiolistings

Added: Jul 15 Changed: Nov 7 Last Checked: Nov 8 at 7:17AM

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Investment Insights

Based on property information with market context.

This self-storage property includes multiple building improvements with unit configurations ranging from compact storage spaces to larger units suitable for oversized belongings or commercial inventory. The available sizes are 5x10, 10x10, 10x15, 10x20, and 10x30, with double-door access provided at the 10x30 units. Electricity is the sole utility serving the complex.

A site plan supports future development of up to 100,000 square feet of additional storage units. The property was built in 2021 and is located at 807 Virginia Avenue in Ashland, Ohio.

Key Highlights

• Self‑storage facility in Ashland, OH
• Unit sizes include 5x10, 10x10, 10x15, 10x20, and 10x30
• 10x30 units feature double‑door access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$174,641

Cap Rate

5.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,492,820 $3.5M

Cap Rate 7%

$2,494,871 $2.5M

Cap Rate 9%

$1,940,456 $1.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 35,000 SF

Gross rent

$224.4K $6.41/SF

− Vacancy

−$18.9K −$0.54/SF

EGI

$205.5K $5.87/SF

− OpEx

−$30.8K −$0.88/SF

NOI

$174.6K $4.99/SF

Area

Ashland County, OH

Vacancy

8.42%

Lease Rate

$6.41 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,492,820

Cap Rate 7%

$2,494,871

Cap Rate 9%

$1,940,456

Alternative Uses

Best Use

Self Storage

$4.30M

$3.76M – $5.01M (±1% cap)

NOI $300,762 @ 7.0% cap · market cap 10.03%

Second Best

Warehouse

$2.49M

$2.18M – $2.91M (±1% cap)

NOI $174,641 @ 7.0% cap · market cap 5.82%

Theoretical Best

Office A

$6.60M

$5.78M – $7.71M (±1% cap)

NOI $462,336 @ 7.0% cap · market cap 15.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Self storage facilities

Suggested Use

Top Pick Pharmacy HVAC Service Parking Lot & Garage Accounting Firm Cafe & Coffee Shop Hair Salon

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

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

623

Businesses Nearby

Explore this area Business Placement

Demographics for 44805, OH

31,238

Population

13,248

Households

2.4

Avg Household Size

41

Median Age

25%

College-Educated

92%

High-School Grad

151.1 sq mi

ZIP Area

207

Density / Sq Mi

$62,058

Median Household Income

$35,122

Median Earnings

$835

Median Rent

$165,000

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Self storage facility - Storage facility with multiple unit configurations and an established operating complex.

Where is this self storage facility located?

The property is located at 807 Virginia Ave Ashland, OH.

What is the asking price?

The asking price for this property is $3,000,000.

What are key features of this property?

This property features: Self‑storage facility in Ashland, OH; Unit sizes include 5x10, 10x10, 10x15, 10x20, and 10x30; 10x30 units feature double‑door access