Tampa Bay Class-A Self-Storage Opportunity – Tampa, FL
12535 Race Track Rd Westchase, FL 33626
This offering presents a rare opportunity to acquire a best-in-class, institutional quality, self-storage project in the rapidly growing Westchase neighborhood of Tampa Bay. The project totals 69,610 rentable square feet across 695 units (80% climate / 20% drive-up). The average age of the existing inventory within a 3-mile radius is 32 years old which gives the Property a strong position within the market. The site is located in a high visibility location with excellent population density, high average and median household incomes, and very high barriers to entry.
The store opened in January 2025 and is being managed by Extra Space Storage. Extra Space projects that the store will be physically stabilized within 36-months and will stabilize at approximately $25 effective rents. This is consistent with CW’s expectations as the current market rents within the trade area (weighted against the subject Property’s unit mix) average approximately $24. The combination of strong current market rents and very old competition offer potential investors an unmatched opportunity in a core, Florida market.
The store is located in Westchase, a rapidly growing part of the vibrant Tampa Bay Area. This particular neighborhood in Tampa has experienced steady population growth and has emerged as one of the city’s premier residential communities over the past decade. It offers convenient access to major highways, business districts, and the Tampa Bay International Airport which makes it an attractive destination for both professionals and families. The community boasts top-rated schools, abundant amenities, and a variety of housing options from single-family homes to townhouses. The Property is conveniently located near Interstate 275 and Veterans Expressway, providing easy access to the rest of Tampa and surrounding areas.