Tampa Bay MSA 2-Property Self-Storage Opportunity
Take advantage of an excellent opportunity to acquire two nearly stabilized self-storage facilities in the Tampa Bay MSA. Located in Clearwater and Bradenton, the two facilities total 178,273 rentable square feet across a mix of 1,847 units. Florida remains a leader in population growth, driving a consistent demand for self-storage. Its business-friendly environment and vibrant economy continually attract national investors.
The Clearwater facility is located along N Belcher Rd that runs through several neighborhoods in Clearwater, connecting various residential and commercial areas. The facility is well positioned along the strongly trafficked road, with an average daily traffic volume of 17,300 vehicles driving in front of the property. It is strategically located roughly a mile away from Hwy 60 and US 19 and is less than half a mile away from the Clearwater Airpark. Converted from an industrial facility in 2022, the 86,395 rentable square foot facility offers a mix of 890 climate-controlled and drive-up units. The facility benefits from over 122,000 people living within 3-miles of the site and with median household incomes above $57,000. As of August 5, 2024, the facility was achieving a square foot occupancy of 85.2%.
The Bradenton facility is located along Manatee Ave W (State Road 64), which is a major east-west highway in Bradenton. Built in 2020, the facility spans 91,878 rentable square feet across a mix of 957 climate-controlled units. It is strategically located along the heavily trafficked road, with an average daily traffic volume of 39,500 vehicles driving in front of the property. The facility is situated in a densely populated trade area, with just over 86,500 residents within a 3-mile radius. As of August 5, 2024, the facility was achieving a square foot occupancy of 84.1%.
Take advantage of an excellent opportunity to acquire two nearly stabilized facilities in one of Florida’s strongest self-storage markets. This opportunity is a good fit for those looking to enter or expand in the Tampa Bay market on nearly stabilized assets with significant rental rate upside.