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Key Details
Sold Price $1
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 440 sqft
Price per Sqft $0
MLS Listing ID 1785908
Sold Date 03/08/24
Year Built 2002
Annual Tax Amount $11,823
Lot Size 5.800 Acres
Lot Dimensions 530x480
Property Sub-Type Commercial
Source Cincinnati Multiple Listing Service
Property Description
Incredible Investment opportunity in recession resilient, self-storage industry. This stabilized asset has experienced growth consistently since the first buildings were constructed in 2002. Currently at 89.2% physical occupancy even after adding the newest building in 2022. This facility features nearly 61,000 sq. ft. under roof (see unit mix below), 5.8 acres of total acreage which includes 1+ acre of buildable ground for future expansion (at least one more 30x360). The facility contains 390 self-storage units ranging from 5x10 to 10x30. The construction allows for interior walls to be modified so operators can adjust unit sizes to market demands. The current operator rents 8 outdoor slips but has the ability to more than double this amount. Add tens of thousands of dollars to the bottom line by bringing all units up to market rent without adding expenses. Extrapolating current 2023 sales data indicated gross sales of ~$322,778.
Location
State OH
County Brown
Area Brown-E11
Zoning Commercial
Rooms
Basement None
Interior
Heating Electric
Cooling Wall Unit
Exterior
Parking On Site 30
View Y/N No
Water Access Desc Public
Roof Type Metal
Building
Faces St Rt 32 East. Left on Eastwood Rd. Right on Karampas Ln. Property located at the end of the road.
Foundation Slab
Sewer Septic Tank
Water Public
Level or Stories One
New Construction No
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Bought with Wright Property Advisors LLC
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