Southwest Florida Value-Add Self-Storage Opportunity – North Fort Myers, FL
15801 Hart Rd North Fort Myers, FL 33917
This offering presents a compelling value-add opportunity through the lease-up of newly constructed units and the implementation of modern revenue management strategies across the existing tenant base. Originally delivered in 1997, the facility has undergone multiple expansions—in 2002, 2004, and 2007—and is now poised for its next phase of growth. Prior to the current expansion, the property totaled 46,750 RSF across 435 units. As of May 2025, the facility was 91.2% occupied by square footage, with in-place rents averaging $13.36 per RSF annually. The latest expansion was delivered in July 2025 and added 7,550 RSF across 72 main floor climate-controlled units, bringing the total to 54,300 RSF and 507 units. The facility is 100% single-story, with approximately 80% drive-up units and 20% ground-floor climate-controlled units, offering a highly accessible and desirable product mix.
Strategically positioned along Hart Road, the property sits in a rapidly evolving submarket within the Fort Myers–Cape Coral MSA. Once a predominantly rural corridor, North Fort Myers is now experiencing a surge in suburban development, fueled by in-migration, new residential construction, and expanding commercial infrastructure. Within a five-mile radius, the population is projected to grow by over 16,000 residents by 2029, supported by more than 5,000 new households and rising median incomes. The facility is surrounded by a mix of established neighborhoods, active adult communities, and new single-family and multifamily developments—all contributing to sustained demand for secure, accessible storage. The site also benefits from excellent visibility and connectivity, with direct access to US-41 and proximity to I-75, providing convenient reach to downtown Fort Myers, Cape Coral, and the broader Southwest Florida region.
This offering represents a rare opportunity to acquire a physically stabilized asset with embedded growth potential. Investors will benefit from strong in-place cash flow, near-term upside through the lease-up of the expansion units, and additional rent growth by implementing ECRIs to align existing tenants with market rates.