Self-Storage Facility
Payless Self Storage
111 Tremont City Rd, Springfield, OH 45502
Listing Price: $2,900,000
Investment Overview
Marcus & Millichap is pleased to present for sale Payless Self Storage, located in Springfield, Ohio, which offers 54,738 rentable square feet across 377 non-climate-controlled units and 81 outdoor parking spaces. This facility presents a compelling value-add opportunity, with current rental rates approximately 14 percent below market. Investors can drive revenue growth by leasing up the newly constructed building (2025) and activating 43 additional parking spaces, while also implementing strategic rental rate increases for both new and existing tenants.
Listing Price: $2,900,000
Investment Highlights
- Established Facility with Upside Potential
- Current Rental Rates 18 Percent Below Market
- Strong Physical Infrastructure
Investment Overview
Marcus & Millichap is pleased to present for sale Payless Self Storage, located in Springfield, Ohio, which offers 54,738 rentable square feet across 377 non-climate-controlled units and 81 outdoor parking spaces. This facility presents a compelling value-add opportunity, with current rental rates approximately 14 percent below market. Investors can drive revenue growth by leasing up the newly constructed building (2025) and activating 43 additional parking spaces, while also implementing strategic rental rate increases for both new and existing tenants.
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