CubeSmart Self Storage (Managed)
For saleUnder contract5801 S US Hwy 1, Fort Pierce, FL 34982
$2,500,000202 units20,319 SF
Self Storage2001
Property type
Self Storage
Unit / Space count
202
Price
$2,500,000
Cap Rate
7.64%
Occupancy
79.7%
Stories
2
Lot size
2.14 acres
Number of buildings
1
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.
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