Listing Portfolios

Sarasota MSA Self-Storage Portfolio - UNDER CONTRACT

NRSF - 182,268

The Sarasota MSA Self-Storage Opportunity offers two self-storage facilities located within the Sarasota-Bradenton Metropolitan Statistical Area. Acquisition of this self-storage opportunity provides an investor with value-add opportunities, including excellent growth potential, great visibilities and solid demographics. An investor can increase management efficiencies to implement robust revenue management.

An investor can expect to see leveraged IRRs in years five and seven of 21.35 percent and 21.21 percent, respectively. The opportunity has value-add components to enhance returns, including the implementation of truck rentals, reducing management costs and raising rates to market averages. By the end of year two, a pro forma capitalization rate of 7.10 percent is projected. The offering consists of 1,622 total units across 182,268 net rentable square feet.  The unit mix is comprised of 1,537 self-storage units and 17 workshop units, ranging from 25 square feet to 1,200 square feet. There is also 68 parking spaces for vehicle, boat and RV parking. Overall, the portfolio demonstrates a physical occupancy of 87.38 percent and an economic occupancy of 78.76 percent.  

Florida is ranked as the east's top tax environment for business due to its tax policies, competitive business costs, and streamlined regulatory environment. In 2015, it was reported that the Bradenton-Sarasota-North Port MSA was the 18th fastest growing metro area in the nation with a population increase of 16,000 people between July 2013 and June 2014. By 2020, the metro area is expected to have a total population gain of 26.2 percent from 2000.

  • Bradenton Facility Bradenton Facility
    3805 53rd Avenue East
    Bradenton, FL 34203
  • Sarasota Facility Sarasota Facility
    5530 Pinkney Avenue
    Sarasota, FL 34233