0 East StFairport Harbor, OH 44077

For Sale

High-Demand, Income-Producing Asset

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents a fee-simple owned, 3.3-acre boat and RV storage facility in the desirable Fairport Harbor, Ohio, market. Currently boasting 145 units, with approximately 110 units available for rental if evenly distributed, the property enjoys a strategic location near major roadways, providing convenient access for residents of Fairport Harbor and Painesville. The facility is secure, well-maintained, and easily accessible, currently operating at 85% occupancy (as of October 30, 2024). The current Net Operating Income (NOI) stands at $44,459, yielding a 6.90% capitalization rate. Significant upside potential exists through lease adjustments

Highlights

  • 145 parking spaces available.
  • Approximately 110 units.
  • 84% physical occupancy, 53% economic occupancy.
  • Significant revenue growth potential through lease expirations and renewals.
  • Excellent visibility from Route 535 and convenient location.
  • High demand for boat and RV storage due to proximity to Lake Erie (under 2 miles to lake access).

Property Details for 0 East St

Property type
Self storage facilities, Industrial properties
Lot Size (sq. ft)
143,748 SF
Units
145

Location Insight

City
Fairport Harbor
County
Lake
State
Ohio
Latitude
41.7474222
Longitude
-81.2692881
East St, Fairport Harbor, Ohio

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0 East St
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