36 Willow Street,Rittman, OH 44270
Rittman, OH 44270
Description
This well-maintained self-storage investment opportunity in Rittman offers a diverse asset with multiple income streams. The property features 113 traditional storage units, including 1 (5x10), 18 (10x10), 89 (10x20), 4 (10x40), and 1 (20x40) unit, along with 27 climate-controlled units consisting of 3 (10x20), 8 (10x15), and 16 (10x10) units. The climate-controlled units are newly completed and continue to lease up, providing additional upside as occupancy increases. The property is currently 73.64% occupied overall. In addition to the traditional self-storage units, the property includes 8 fully occupied commercial storage tenant spaces totaling approximately 24,200 square feet, providing significant supplemental income. There are also approximately 40 outdoor parking spaces, adding further revenue potential for vehicle or equipment storage. The property is well maintained and supported by security features including surveillance cameras and on-site lighting. With strong in-place income and additional upside through continued climate-controlled lease-up, rent increases, and lease optimization, this asset offers stable cash flow and growth potential. Located in a market with a current moratorium restricting new self-storage development, the property benefits from reduced future competition, helping support long-term occupancy and rental stability.
Details
| MLS # | 5233876 |
|---|---|
| Listing Type | For Sale |
| Style | Warehouse |
| Sub-Type | Resale |
| Status | Active |
| Year | 2003 |
| Days On Site | 13 |
| Listing Provided By | Home Equity Realty Group | Kim Lewis |
Features
| SQ Feet | 49,650 |
|---|---|
| Units | 138 |
| Building(s) | 8 |
| Acreage | 7.03 |
Taxes
| Tax Annual Amount | 12976 |
|---|
Area Information
| State | OH |
|---|---|
| County | Wayne |
| City | Rittman |
| Zip Code | 44270 |
| Community Name | Rittman |
| Listing VS Median (in Rittman) | |
Price: $2,200,000 low | high Med: $2,200,000 sqft: 49,650 low | high Med: 49,650 $ / sqft: $44 low | high Med: $44 On site: 13 low | high Med: 13 | |
Market Activity 44270
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Learn More About This Property
| State | OH |
|---|---|
| County | Wayne |
| City | Rittman |
| Zip Code | 44270 |
| Community Name | Rittman |
| Listing VS Median (in Rittman) | |
Price: $2,200,000 low | high Med: $2,200,000 sqft: 49,650 low | high Med: 49,650 $ / sqft: $44 low | high Med: $44 On site: 13 low | high Med: 13 | |