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Seize the opportunity to acquire an established self-storage property in the fast-growing Tampa Bay metro area. New residents are flocking to the Tampa Bay area due to job growth in higher-paying professional and business services. As a result, these business expansions are spurring impressive economic growth throughout the region. The local economy is worth over $130 billion, making the Tampa Bay metro area the third fastest growing region in Florida.
The self-storage facility listed in this sale is located in the northern part of the metro area along busy State Road 52, which sees up to 32,500 vehicles each day. A large Publix supermarket, several restaurants and a high school are all within 1 mile of the subject property. Completed in 1979, this well-maintained facility provides over 31,000 rentable square feet, which easily accommodates Tampa Bay’s growing population with 164 total rentable units as well as a retail component. Physical occupancy is currently 95.9% / 93.1% with economic occupancy at 69.47%.
All told, this sale presents a rare opportunity for a savvy investor to acquire an established storage business in a highly sought-after area, where self-storage demand remains constant as the metro area expands at a record rate.