The Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of the Jupiter Self-Storage Opportunity. This 56,429 square-foot facility is located on 2.4 acres of land in Jupiter, FL. Built in 1998, the building offers 869 climate-controlled, rentable units equipped with a host of other premium features including 24- hour security monitoring, seven-day access, and RV storage options. The subject property is optimally situated within the densely populated suburban neighborhoods of Jupiter. This affluent community is home to 63.6K residents with an impressive median income of $82,543 and
is part of Palm Beach County, Florida’s wealthiest county. The facility is just a short drive from West Palm Beach, Delray Beach, and Fort Lauderdale. What’s more, the prime location (just off of I-95) provides quick and easy access for current and potential tenants while garnering impressions from up to 220,000 passing motorists every single day. Due to Jupiter’s fast-growing population driving self-storage demand, building occupancy for this property is currently on an upward trajectory. As a whole, the self-storage industry has experienced significant growth over the past fourth months with rental rates steadily increasing. For these reasons, the Jupiter Self-Storage Opportunity allows an investor to acquire an established self-storage asset with value-add components in one of South Florida’s wealthiest and most esteemed regions. The facility has a current physical occupancy of 71.1 percent and an economic occupancy of 51.47 percent. With operating expenses averaging between $429,224 – 494,072, one could expect an effective gross income of up to $1,212,860 and a net operating income up to $718,787. However, in this fast-growing, high-net-worth market, a savvy investor is poised to easily improve economic occupancy to further solidify the subject’s presence and profitability.