Tampa Bay MSA, Value-Add Self-Storage Opportunity – Clearwater, FL
2166 Drew St, Clearwater, FL 33765

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Market Bid
Clearwater, FL
23,968 rentable square foot self-storage facility centrally located in Clearwater, FL
Excellent access to downtown Tampa, St. Petersburg, and Clearwater
Densely populated 3-mile trade with 121,964 residents
Excellent visibility along Drew Street, providing a daily average traffic volume of 33,500 vehicles going directly by the facility
Parcel 12-29-15-59184-000-0033 adjacent to the facility can be purchased concurrently from the same owner
Recent renovations including new roofs in 2020, security gate and facility painting in 2022 and new AC system in 2024*

Cushman & Wakefield’s Self Storage Advisory Group has been exclusively retained to offer for sale, the Bison Storage Self-Storage Opportunity in Clearwater, FL.

This offering presents an excellent opportunity to acquire an established self-storage facility in Clearwater, FL. Built in 1982, the 23,968 rentable square foot facility includes climate and non-climate controlled first floor units, drive-up units, mailbox and parking spaces, as well as a portable container, totaling 483 units. The facility was achieving an 82% physical occupancy as of Feb. ’24 month-end. Buyers also have the option to purchase the adjacent parcel, comprising of 4 retail spaces in a single building. The additional space can be kept as retail or converted into additional climate-controlled units.

Centrally located within the larger Tampa-St. Petersburg-Clearwater MSA, the major downtown districts of all 3 cities are within a 20-minute drive of the facility. The MSA is ranked #24 by population and is home to over 3 million people, growing rapidly in the last few years. The facility is situated along the heavily trafficked Drew Street, a major throughfare that stretches the all the way across Clearwater, FL. The busy roadway provides an excellent daily average traffic volume of 33,500 vehicles traveling directly by the facility. The facility garners additional eye traffic from the nearby retail and restaurant locations, with shopping centers located next door and directly across the street. The facility also benefits from its densely populated trade-area, boasting an impressive 121,964 residents within a 3-mile radius.

This investment is an excellent opportunity to acquire an established self-storage facility in a top 25 MSA. The facility benefits from a densely populated, 3-mile trade, with over 120,000 residents supporting a strong demand for storage. Buyers will have the opportunity to stabilize the facility’s occupancy with room to increase rents to market levels, as well as implement professional management to increase operational efficiency. The option to additionally purchase the adjacent retail parcel will provide new ownership with an additional revenue stream or an expanded unit mix through converting it to self-storage units. Buyers are expected to achieve levered returns in the high teens based on C&W’s projections.

Clearwater, FL

  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as the Clearwater, FL Self-Storage opportunity.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.


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