Self Storage Facility with Expansion
For Sale
$3,000,000
807 Virginia Ave, Ashland, OH 44805
Storage facility with multiple unit configurations and an established operating complex.
Property Size35,000 SF
Price / SF$85.71
Days on Market62
Property Features for 807 Virginia Ave
General Information
Standard status
Active
Size
35,000 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2021
Listing Agency:
RE/MAX First Realty, LLC
Listed By:
Julie L Wallace juliewallacerealtor@gmail.com, 330-204-1549 · License #SAL.2018002803
(330) 204-1549
Source:
Northeastohiolistings
Added: Aug 15
Changed: Oct 1
Last Checked: Oct 14 at 11:28PM
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 First Realty, LLC
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.
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
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
NOI $300,762 @ 7.0% cap · market cap 10.03%
Second Best
Warehouse
$2.49M
$2.18M – $2.91M
NOI $174,641 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$6.60M
$5.78M – $7.71M
NOI $462,336 @ 7.0% cap · market cap 15.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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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
