Self Storage Facility with Historic
For Sale
Contact for pricing
8279 Baumhart Road, Amherst, OH 44001
Storage barns and a rented Colonial residence occupy an income-producing property with acreage and seasonal recreational vehicle demand.
Property Size2,900 SF
Price / SF$137.93
Days on Market8
Property Features for 8279 Baumhart Road
General Information
Standard status
Active
Size
2,900 SF
Property subtype
Business for Sale
Listing Agency:
The Swanzer Agency
Listed By:
Captain Ron Allor · License #OH 2003018695
Source:
Crexi
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 8:45AM
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 The Swanzer Agency
Investment Insights
Based on property information with market context.
This self-storage property includes multiple outbuildings currently leased for seasonal storage, along with a historic stone Colonial residence. The home contains approximately 2,900 square feet on 2.82 acres, with three bedrooms and a full bath upstairs. The main level includes an eat-in kitchen, parlor/dining room, living room, half bath, and utility area.
Built in 1847 and identified by its original datestone, the residence retains its historic character while serving as an additional rental component. Storage customers use the outbuildings for boats, campers, and other seasonal recreational vehicles, with occupancy reported during the winter months. The property is situated in Brownhelm Township between the Ohio Turnpike and St. Rte. 2 and falls within the Firelands Local School District.
Built in 1847 and identified by its original datestone, the residence retains its historic character while serving as an additional rental component. Storage customers use the outbuildings for boats, campers, and other seasonal recreational vehicles, with occupancy reported during the winter months. The property is situated in Brownhelm Township between the Ohio Turnpike and St. Rte. 2 and falls within the Firelands Local School District.
Key Highlights
- Multiple outbuildings currently rented as storage units
- Historic stone Colonial built in 1847
- Approximately 2,900 square feet of residential space
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
$27,624
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
6.91%
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%
$552,480
$552.5K
Cap Rate 7%
$394,629
$394.6K
Cap Rate 9%
$306,933
$306.9K
Market Conditions
NOI Build-Up for 2,900 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
$41.8K $14.40/SF
− Vacancy
−$2.3K −$0.79/SF
EGI
$39.5K $13.61/SF
− OpEx
−$11.8K −$4.08/SF
NOI
$27.6K $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 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%
$552,480
Cap Rate 7%
$394,629
Cap Rate 9%
$306,933
Alternative Uses
Best Use
Self Storage
$394.6K
$345.3K – $460.4K
NOI $27,624 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$354.4K
$310.1K – $413.4K
NOI $24,805 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$730.8K
$639.5K – $852.6K
NOI $51,156 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 44001, OH
20,837
Population
8,547
Households
2.4
Avg Household Size
47
Median Age
30%
College-Educated
95%
High-School Grad
33.2 sq mi
ZIP Area
628
Density / Sq Mi
$91,050
Median Household Income
$47,042
Median Earnings
$947
Median Rent
$221,300
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 - Storage barns and a rented Colonial residence occupy an income-producing property with acreage and seasonal recreational vehicle demand.
Where is this self storage facility located?
The property is located at 8279 Baumhart Road Amherst, OH.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Multiple outbuildings currently rented as storage units; Historic stone Colonial built in 1847; Approximately 2,900 square feet of residential space
