Convenient Mini Storage, located in Fort Meade and Bowling Green, FL, is comprised of 32,850 rentable square feet. The properties are composed of 255 non-climate units and one parking space for a total of 256 units. The subject has current physical and economic occupancies of 98 percent and 90 percent respectively, which are indicative of the high demand for self-storage in the area.
Situated South East of Tampa, FL, in the Lakeland-Winter Haven MSA, Convenient Mini Storage is located at 1915 US-98 N, Fort Meade, FL and 5016 US-17, Bowling Green, FL. The sites benefit from an average household income exceeding $67,000. In 2018, the Lakeland-Winter Haven Metropolitan Statistical Area saw an annual population increase of 3.2%.
Convenient Mini Storage is a cash-flowing investment that offers multiple upsides. The facilities have minimal competition in an area and offer an investor the opportunity to acquire two stabilized properties with room to grow rental rates. Convenient Mini Storage has forward looking financials with cash-on-cash returns of 13.3 percent in year three and 16.1 percent in year five. Furthermore, this site has the opportunity to increase efficiencies and visibility through revenue and management improvement and a digital presence. Convenient Mini Storage is offered at $1,400,000.