Pace, FL | Self-Storage Opportunity with Expansion
4384 Luther Fowler Rd, Pace, FL 32571

Pace is a growing city (2.22% annual growth rate over last 10 years).
Property is optimally located on Luther Fowler Road, connecting it to many suburban developments.
The property offers a total of 39,900 rentable SF and 327 rentable units.
Physical occupancy is at 97.4% / 94.8% with economic occupancy at 72.23%.
Features include climate-controlled storage options, non-climate storage options, and electronic gate access.
Possible storage expansion which would double the NRSF.
Significant room for improvement due to management efficiencies.
The Jubilee project, just north of the facility, is a 2,700+ acre development consisting of residential and commercial spaces. In addition to two new additional schools to support the growing population.
Adams Homes acquired property just East of the facility to develop an additional 600 homes.

Cushman & Wakefield has been selected to exclusively market the sale of the Pace, FL self-storage property.

This presents a unique opportunity to acquire an established business with multiple upside opportunities. As of September 30th, the asset is 97.4% physically occupied. The facility is located in the fast-developing Pace community, which since 2010 has seen the population increase at a rate of 2.22% annually. This  percentage increase is higher than several notable cities reported figures in 2020 including Fort Worth, Texas, Mesa, Arizona, and even Tampa, FL. To support  this growth several housing developments have been created which will provide increased demand for self-storage in the coming years.

This 39,900 square-foot facility is conveniently situated off Luther Fowler road and Berry Hill Road, two major roadways which feature many of the new housing developments. The facility offers a mix of climate controlled and non-climate units to fit any customer’s needs. Personal belongings are protected by gated access and surveillance cameras. In total, this opportunity offers considerable upside in management, operations, and revenue enhancement.

The location also offers the potential for expansion due to the vacant lot also included in the sale. Based on a site plan provided by the current owner, an expansion created in this lot would double the NRSF of the facility for a total of 79,800. Synergies created by this expansion and more efficient management give this property the potential for massive increases to NOI and thus an outstanding return on investment.



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