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.