About Space Storage

53,854 NRSF | 459 Total Units | Cincinnati, OH

Call for Offers:

October 7, 5:00 PM

INVESTMENT OVERVIEW

Visible to over 88,000 vehicles per day and located in the Cincinnati MSA, it’s no surprise that About Space – Reading is 97% occupied and producing strong income, despite the value-add opportunity that remains. The property was built in 1985, is 53,854 NRSF, and offers 433 drive-up units along with 26 parking spaces.

The facility is 89% economically occupied and currently owner-managed. It is accessible to locals who regularly travel Clark Road, which connects to many other heavily trafficked roads throughout the town of Reading, and is also located parallel to Interstate 75, where the property is advertised to the 100,000+ vehicles that drive the interstate per day.

Supply within 3 miles of the subject property is only 1.97 SF per capita and this property serves as the most convenient option for residents surrounding the property, specifically, the residents located Northwest, where storage supply is lacking and the other options in the area require getting on the interstate to arrive.

With some of the lowest asking rates in the market and a wait list for new tenants, the income at this property will benefit by bumping their in-place rates to meet their asking rates. For an investor who doesn’t shy away from development, possible expansion options on the adjacent parcels may provide further opportunity in the future.

Facility Summary

 

Property Name: About Space Storage
Address: 325 Clark Rd, Cincinnati, OH 45215
County: Hamilton
Land Area: 4.33 Acres +/-
Total NRSF: 53,854
Total Units: 459 (433 Drive-up + 26 Parking)
Unit Sizes: 25-600
Physical Occupancy: 97%
Economic Occupancy: 89%
Buildings: 4 Single-Story Drive-Up Buildings

 

Investment Highlights

  • 53,854 NRSF | 433 Drive-Up Units | 26 Parking Spaces
  • 97% physical occupancy, 89% economic occupancy
  • Impeccable Visibility from Interstate 75 | Over 100,000  VPD
  • Exceedingly low supply within 3-mile radius (1.97 SF/Capita)
  • Population of over 88,000 individuals within 3 miles
  • Opportunity to align in-place rates with current asking rates

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