3000 Main StSpringfield, OH 45503

Property Details for 3000 Main St

Year built

2017

Construction

CONCRETE BLOCKS

Lot size

1.60 AC

Property size (Sq ft)

10,086 SF

Property type

Retail space

APN

305-07-00023-408-002

APU

3050700023408002

Description

This exceptional self-storage facility in Springfield, Ohio, presents a compelling value-add investment opportunity. The property, located at 3000 E Main St, Springfield, OH 45503, comprises six single-story buildings totaling 38,305 net rentable square feet on an 18.8-acre lot. Built in phases (2021 and 2023), the facility features 236 units, including 10' x 20' and 15' x 53' sizes, constructed with Morton Buildings and Wayne Dalton doors. The property boasts ample outdoor parking and is fully fenced with a remote access gate system and new LED lighting. A security camera system is currently being installed. Currently operating at 44.1% occupancy (as of July 9, 2024), this facility offers significant upside potential. The property benefits from a strategic location on heavily trafficked US 40 between Dayton and Columbus, serving a sizable local population of approximately 60,000 residents. Further enhancing its income stream, a cell tower lease is in place. The asking price is $2,700,000 ($70.49/sq ft and $11,440.68/unit). Seller financing is available, with the owner willing to take a second position to a traditional loan, providing flexibility for new ownership to implement their business strategies and pursue expansion opportunities. The property's limited online presence prior to July 2024 presents a clear path to increased occupancy and revenue.

• CAP approach

  CAP return

  Valuation

  6%

  $2,844,964

  6.5%

  $2,626,120

  7%

  $2,438,540

• Comparable approach

  Method

  Valuation

  Relative Method

  $500,455

  Geo Method

  $500,455

• Alternative Use

  Use

  Valuation

  Residential

  $2,215,231

  Hospitality

  $2,029,140

  Educational

  $1,688,220

  Medical

  $1,746,281

  Retail

  $2,626,120

Location Insight

City

Springfield

County

Clark

State

Ohio

Latitude

39.9238

Longitude

-83.7601

CBSA code

44220

CBSA name

SPRINGFIELD, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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