Recently Constructed, Class-A Self-Storage Opportunity – Osprey, FL
626 S Tamiami Trail, Osprey, FL 34229

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Price
Market Bid
NRSF
72,391
Osprey, FL
New Construction
72,391 rentable square foot, class-A facility built in 2022
Excellent annual average daily traffic volume of 42,500 vehicles passing directly by the facility
Strong 3-mile trade area median household income of $92,351
Opportunity to raise revenue by stabilizing occupancy
In-place NOI expected to more than double in the first 24 months of ownership based on C&W’s projections
Projected levered IRR to be in the high-teens on a 5-year hold

Cushman & Wakefield’s Self-Storage Advisory Group has been retained as exclusive advisors to offer for sale the CubeSmart Self Storage Osprey, FL Self-Storage Opportunity.

Take advantage of the opportunity to acquire this lease-up self-storage facility consisting of 72,391 fully climate-controlled rentable square feet. Built in 2022, this 3-story, class-A facility is outfitted with all of the latest technology and security features for secure storage. The facility offers 162 climate controlled first floor units, 559 climate controlled elevator accessible units, 16 drive up units, and 9 uncovered boat & RV parking spaces. As of November 2023, the facility was at 50% physical occupancy.

Situated right along the heavily trafficked Tamiami Trail highway, the facility benefits from its roughly 220 feet of frontage on the major roadway. The facility’s modern buildout and multi-story stature provide excellent visibility to the impressive 42,500 annual average daily traffic volume going directly by the property. The facility’s 3-mile trade has seen consistent growth in recent history, with the population growing by 1.8% annually since 2020. The 3-mile trade area also boasts an excellent median household income of over $92,000, far above the national and state average. Osprey continues to draw affluent retirees due to its proximity world-class beaches and abundance of restaurants. With an estimated 14% of Sarasota’s population being snowbirds, the demand for storage remains consistent due to the transient population.

Take advantage of the opportunity to acquire this mid lease-up facility situated along Florida’s highly desirable Gulf Coast. This investment presents the unique opportunity to acquire an established facility with a current net operating income of over $322,000. The trade area’s impressive median household income provides to ability to command premium rents for this multi-story class-A facility. With current physical occupancy at 50%, new ownership will have the opportunity to increase revenues by stabilizing occupancy, with NOI upon stabilization projected to be over $942,000.

Osprey, FL

  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as the Osprey, FL Self-Storage opportunity.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.



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