Acquire a long-standing, established self-storage property located in the fast-growing Fort Lauderdale metro area. Altogether, the Fort Lauderdale metro is home to nearly 6.2 million residents, which has grown nearly 20 percent within the last decade. While self-storage remains a lucrative sector, starting a new business is tough—Florida is currently the nation’s hottest commercial real estate market. High development costs coupled with startup fees create substantial barriers to entry here, which is why this Pembroke Pines self-storage facility is such an exciting opportunity.
Situated 20 minutes Northwest of Miami and 20 minuets Southwest of Fort Lauderdale, this property is easily accessible from I-75 and close to Broward College. This affluent suburb boasts a median household income of over $111K within a one-mile radius.
Built in 1997, the 80,914 square-foot facility comfortably hosts 947 units. Tenants benefit from modern conveniences like drive-up access, ground-floor units, elevators, climate-controlled units, options for vehicle, boat and RV storage and 24-hour security surveillance.
An optimal location coupled with an array of convenient features has made Pembroke Pines a stabilized facility. Physical occupancy is at 97%, while economic is only at 85%, which means easy revenue growth through increasing rent.
For a savvy investor, this self-storage opportunity allows an investor to acquire an established business poised for an immediate return on investment in the highly competitive South Florida region.