Listing Portfolios

Central Florida Self-Storage Portfolio

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NRSF - 83,625

The Mele Group of Marcus & Millichap has been selected to exclusively market for sale the Central Florida Self-Storage Portfolio. Acquisition of the four-property, self-storage portfolio provides a qualified investor with impeccably-located facilities within the state’s highest-growth markets, including the Tampa Metro Area, the Orlando Metro Area and The Villages Metro Area. Each of the facilities are situated along a major highway or thoroughfare, featuring fantastic traffic counts and visibility. Furthermore, the portfolio offers multiple value-add opportunities to increase returns through raising rates at individual locations to match their respective markets, along with potential for conversion and expansion at the Clearwater location and management synergy at the Summerfield and Tavares locations at an approximate 26.0-mile distance. The opportunity boasts excellent pro forma projections; at the end of years one and two are cash-on-cash returns of 9.9 percent and 12.5 percent, paired with leveraged IRRs of 24.7 percent and 23.6 percent in years five and seven.

The portfolio consists of 966 total units across 83,625 rentable square feet and 9.16 acres in Clearwater, Summerfield, Tavares and Palm Bay.  The facilities demonstrate the strength of their Central Florida markets with consistently high occupancies, resulting in an overall portfolio physical occupancy of 94.0 percent. Since 2017, a significant number of capital improvements have been invested into each facility, including new signage, AC units, gate controllers, parking striping, exterior lighting, customer code locks and 24-hour video security cameras.

Central Florida is home to the state’s fastest-growing metropolitan statistical areas that comprise the portfolio, including The Villages Metro Area, which topped the U.S. Census Bureau’s charts as the fastest-growing U.S. area by percent population increase for the fourth consecutive year. After Florida emerged as the country’s third most populous state in 2015 by surpassing New York, the Sunshine State continues to hold this ranking as its population swells. Of new residents, nearly 92 percent moved to the state, denoting one of the highest net migration rates in the country.

  • Clearwater Facility Clearwater Facility
    28420 U.S. Highway 19 North
    Clearwater, Florida
  • Summerfield Facility Summerfield Facility
    16905 U.S. Highway 441
    Summerfield, Florida
  • Tavares Facility Tavares Facility
    1651 Florida State Road 19
    Tavares, Florida
  • Palm Bay Facility Palm Bay Facility
    4500 Lipscomb Street
    Palm Bay, FL