205 Leavitt Rd Amherst, OH 44001
- Self storage facilities
- 78,450 SF
- 6.60 lot acres
Current Use by Public Records
- Self storage facilities
Property Details for 205 Leavitt Rd
- Lot size
- 6.60 lot acres
- Property size
- 78,450 SF
- Property type
- Self storage facilities
Description
This exceptional self-storage facility, slated for completion in Fall 2024, presents a compelling investment opportunity in Amherst, Ohio. The 78,450-square-foot facility boasts 612 units, a mix of 331 climate-controlled and 281 non-climate-controlled units. Situated on a 6.6-acre lot at 205 S Leavitt Rd, Amherst, OH 44001, this state-of-the-art facility offers excellent visibility and accessibility. Its location along State Route 58 provides high traffic exposure (over 13,500 cars daily) and direct access to Interstate 90. The strong demographics of Amherst, with a median household income exceeding $78,000 within a 3-mile radius and a population of over 37,000, contribute to a robust market for self-storage. The facility is designed for efficient remote management or integration into a larger portfolio. Amherst's location within Lorain County, part of the Greater Cleveland MSA, and its proximity to major cities like Cleveland, Lorain, and Elyria, further enhances its appeal. This property offers a projected Net Operating Income (NOI) of $588,000 at stabilization, with a projected leveraged Internal Rate of Return (IRR) of 20-22%. The combination of prime location, modern amenities, and strong market fundamentals makes this a highly attractive investment prospect.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Amherst
- County
- Lorain
- State
- Ohio
- Longitude
- -82.2097
- Latitude
- 41.3968
