CubeSmart Self Storage (Managed)
For saleUnder contract5801 S US Hwy 1, Fort Pierce, FL 34982
$2,500,000202 units20,319 SF
Self Storage$12,376/unit$123/SF2001
Property type
Self Storage
Unit / Space count
202
Price
$2,500,000
Rentable area
20,319 SF
Occupancy
79.7%
Stories
2
Lot size
2.14 Acres
Number of buildings
1
CAP
7.64%
Price per SF
$123.04
Property description
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
Property highlights
- Stabilized and Cash-Flowing Self Storage Facility Comprised of 202 Climate-Control Units Totaling 16,719 NRSF, Two Commercial Spaces Totaling 1,800 NRSF, Two Apartments Totaling 1,800 NRSF, and 57 Outdoor Parking Rentals.
- Facility is an Excellent Candidate for Remote Management With Automatic Gate, Keypad Entry, and Security Cameras Already in Place.
- Opportunity to Increase Revenue Through Replacing the Existing Parking Area with an Additional Storage Building. Conceptual Plans Available in the Deal Room.
- Very Low Market Saturation of 4.6 SF/Capita for Self Storage Within Five Miles of the Property.
- Opportunity to Increase Revenue Through Existing Customer Rent Increases and Maximizing Supplemental Income Streams.
- Dense Population of 41,791 Residents Within Three Miles of the Property Growing at 6.8% Annually.
- Strong Average Household Income of $88,404 Within Three Miles of the Property.
- Fort Pierce is Located Along Florida's Eastern Coast Approximately 50 Miles North of West Palm Beach and is Home to 52,377 Residents.
- The Rapidly Growing Port St. Lucie MSA is the 10th Largest in the State of Florida and is Home to 556,336 Residents.