Jacksonville Storage Development Site
For sale810 Starratt Road, Jacksonville, FL 32218
Unit / Space count
700
Price
$1,950,000
Property class
A
Stories
3
APN
106935-0300
Lot size
1.95 acres
Property description
The Jacksonville Storage Development Site is a shovel-ready self-storage opportunity on just under two acres at 810 Starratt Road in Jacksonville, Florida, offered at $1,950,000. Plans are in place for a three-story, Class A, climate-controlled facility with about 700 units and 76,002 NRSF. This is a ground-up development rather than an in-place operation, so a buyer takes on construction cost and lease-up risk in exchange for a new, modern facility built to current market standards. The case for the site rests on rates and growth. Climate-controlled rents in the immediate trade area are strong, and projected street rents line up with nearby competitors, which supports a healthy stabilized yield. The surrounding area is growing steadily, with solid household incomes and a heavy pipeline of planned housing, including more than 8,700 new units within ten miles. The site sits on a well-traveled road in north Jacksonville, within the fourth-largest metro in Florida. Competition in the trade area is moderate, so the project depends on strong execution and a disciplined lease-up.
Property highlights
- Shovel Ready Self Storage Development Site With Plans In Place to Build a "Class A" Facility in the Jacksonville, Florida MSA
- Plans Call for a 3-Story Building Comprised of 700 Climate-Control Units Totaling 76,002 Net Rentable Square Feet
- Strong Market Rates for Climate Control Storage in the Immediate Trade Area
- Average Household Income of $103,037 Within Three Miles of the Property
- Population of 51,433 Residents Within Five Miles of the Property Growing at 1.3% Annually
- Over 60 Planned Residential Developments Totaling More Than 8,700 New Housing Units Within Ten Miles of the Site
- The Jacksonville MSA is the Fourth Largest in the State of Florida and is Home to 1,785,500 Residents
Broker of Record Darron Kattan Florida BOR License No. BK3256503 Firm License No. CQ1032352 813-839-7300 FSIVS@FranklinSt.com Franklin Street Real Estate Services LLC