Skip to main content

Self-Storage Facility

Payless Self Storage

111 Tremont City Rd, Springfield, OH 45502

Listing Price: $3,200,000

Cap Rate
5.02%
Occupancy
62.5%
Rentable SF
54,738
Price/Rentable SF
$58.46
Year Built
1996

Investment Overview

Payless Self Storage, located in Springfield, Ohio, 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% 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.

Investment Highlights

  • Established Facility with Upside Potential
  • Current Rental Rates 18% Below Market
  • Strong Physical Infrastructure

Exclusively Listed By

  • Jeffrey L. Herrmann

    Senior Director Investments

    (630) 570-2223

    Email Jeffrey

    License(s): IL: 475.176916

    Chicago Oak Brook

  • Sean M. Delaney

    Senior Managing Director Investments

    (630) 570-2267

    Email Sean

    License(s): IL: 475.141529, WI: 77902-94

    Chicago Oak Brook

Broker of Record

  • Michael L. Glass

    Executive Managing Director / Chief Revenue Officer

    (614) 360-9800

    License(s) OH: BRK.2007005898

    Ohio

Self-Storage Facility

Payless Self Storage

Listing Price: $3,200,000

Cap Rate
5.02%
Occupancy
62.5%
Rentable SF
54,738
Price/Rentable SF
$58.46
Year Built
1996

Investment Highlights

  • Established Facility with Upside Potential
  • Current Rental Rates 18% Below Market
  • Strong Physical Infrastructure

Investment Overview

Payless Self Storage, located in Springfield, Ohio, 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% 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.

Exclusively Listed By

  • Jeffrey L. Herrmann

    Senior Director Investments

    (630) 570-2223

    Email Jeffrey

    License(s): IL: 475.176916

    Chicago Oak Brook

  • Sean M. Delaney

    Senior Managing Director Investments

    (630) 570-2267

    Email Sean

    License(s): IL: 475.141529, WI: 77902-94

    Chicago Oak Brook

Broker of Record

  • Michael L. Glass

    Executive Managing Director / Chief Revenue Officer

    (614) 360-9800

    License(s): OH: BRK.2007005898

    Ohio

MM Texture Background
MM Textured Background Lower