New Construction Self-Storage Opportunity – Fort Myers, FL
2320 E Mall Dr, Fort Myers, FL 33901
This investment provides the opportunity to acquire a brand new, Class-A facility in the growing Fort Myers metro area. Expected for completion in April of 2024, the facility will deliver with 87,750 rentable square feet comprised of 217 climate-controlled first-floor units and 668 climate-controlled elevator accessible units, totaling 885 units over 3 floors. The facility will feature a modern design with all the latest technology and security advancements for secure and seamless storage.
Located just outside downtown Fort Myers, across the Caloosahatchee River from Cape Coral, the brand-new facility sits just a half hour from world renowned beaches along Florida’s Gulf Coast. Situated along Colonial Blvd, the facility will benefit from the excellent annual average daily traffic volume of 54,000 vehicles driving directly in front of the property.
The facilities immediate trade area is seeing an influx of development, with 304 multifamily units currently under construction and an additional 1,031 units in various stages of planning within 1.5 miles of the facility. With just over 60% of housing units within 3-miles occupied by renters, the large amount of multifamily development is poised to elevate the demand for self-storage commonly seen amongst the renter population.
Take advantage of the unique opportunity to acquire a brand-new self-storage facility in the growing Fort Myers, FL metro. The fully climate-controlled, Class-A facility allows investors to expand their footprint in a highly sought-after sunbelt market, with an influx of multifamily development positioning the facility for a rapid lease-up and strong rental rates. Buyers have the opportunity to acquire this store at a significant cap rate and price per square foot discount relative to market. Investors are well-positioned to capture significant cap rate compression and value creation by implementing professional management to stabilize the asset.