Lakeland Storage Development Site
For saleUnder contract2315 E County Rd 540A, Lakeland, FL 33813
Unit / Space count
741
Price
$1,500,000
Property class
A
Stories
3
APN
24-29-21-000000-033050
Lot size
3.31 acres
Property description
The Lakeland Storage Development Site is a shovel-ready self-storage opportunity on 3.31 acres at 2315 E County Road 540A in Lakeland, Florida, offered at $1,500,000. Plans are in place for a three-story, Class A, climate-controlled facility with about 741 units and 77,148 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 demand case is strong. The site sits on a heavily traveled road in one of Florida’s fastest-growing areas, and the trade area is large and growing at a rapid pace. Household incomes are healthy, and storage saturation is low, especially for climate-controlled space. More than 3,600 new housing units are planned within ten miles of the site. Lakeland sits on the I-4 corridor between Tampa and Orlando, where a deep logistics, healthcare, and education base supports steady household growth. Projected rents are in line with nearby climate-controlled competitors, which positions a new Class A facility to capture demand and stabilize at a strong yield.
Property highlights
- Shovel Ready Self Storage Development Site With Plans In Place to Build a "Class A" Facility in the Lakeland-Winter Haven, Florida MSA
- Plans Call for a 3-Story Building Comprised of 741 Climate-Control Units Totaling 77,148 Net Rentable Square Feet
- Limited Competition in the Immediate Trade Area Evidenced by a Saturation Rate of 5.9 SF/Capita for Self Storage Within Three Miles of the Property
- Average Household Income of $122,377 Within Three Miles of the Property
- Population of 119,256 Residents Within Five Miles of the Property Growing at 3.8% Annually
- Over 45 Planned Residential Developments Totaling More Than 3,600 New Housing Units Within Ten Miles of the Site
- The Lakeland-Winter Haven MSA is the Seventh Largest in the State of Florida and is Home to 874,790 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