Homestead Storage C/O Opportunity

Homestead Storage C/O Opportunity2019-05-13T15:15:32-04:00

Project Description

The Mele Group of Cushman & Wakefield has been selected to exclusively market for sale the Homestead Storage C/O Opportunity, an institutional-quality, self-storage development located in Homestead, Florida, a key component of Miami-Dade County.

Offers Due May 14, 2019
NRSF – 91,400

1235 Northeast 12th Avenue
Homestead, Florida 33033

The newly-constructed facility will reside on 3.23 acres and will be comprised of 91,400 rentable square feet upon completion. The subject will offer 718 climate-controlled units, 200 lockers, 55 non-climate-controlled units and 31 rental parking spaces for a total of 1,004 units. The facility will feature a fully-climate-controlled, multistory building with convenient elevator access to its upper-level units. Additionally, the elevators will come with a warranty to ensure daily operations and the building will feature a large walk-in area and office space. The Homestead Storage C/O Opportunity will offer additional streams of revenue through tenant insurance and moving supplies; the facility can further increase income through the implementation of a truck rental program upon Certificate of Occupancy.

Strategically situated in the Miami, Florida Metropolitan Statistical Area, the Homestead Storage C/O Opportunity offers exceptional upside with strong demographics in an area poised for significant growth. An investor has the unique opportunity to acquire a brand new, state-of-the-art facility that is slated to complete construction in mid-2019. At Certificate of Occupancy, the newly-constructed facility will represent the best-of-the-market and operate in a densely-populated residential area with a multitude of resources and points of interest. There is a population of over 157,000 individuals within five miles of the property, signifying the need for self-storage within the region. The five-year population growth is projected to flourish at a high rate of 1.50 percent annually from 2019 to 2024. Additionally, an investor will benefit from a 46.5 percent renter-occupied housing population in the surrounding area. The property offers excellent accessibility to U.S. Highway 1 and Florida’s Turnpike, which are two of the most frequented thoroughfares in Miami-Dade County.

Ideally situated on Northeast 12th Avenue, the facility is adjacent to U.S. Highway 1 and Old Dixie Highway, which sustain traffic counts in excess of 31,000 and 34,000 vehicles per day. The property is 1.5 miles from Florida’s Turnpike, which witnesses a traffic count of over 49,000 vehicles per day. Additionally, the property is approximately one mile from Krome Avenue, which has a traffic count exceeding 22,000 vehicles per day. Furthermore, the site is within a mile of Campbell Drive, which witnesses a traffic count exceeding 26,000 vehicles per day. The Homestead Storage C/O Opportunity offers convenient access to Downtown Miami and all the nationally-renowned amenities in this primary MSA.

Investment Highlights:

  • Acquisition Secures an Exceptional Asset in a Highly-Active Residential and Retail Corridor of Homestead, Florida; a Thriving Component of Miami-Dade County and the Miami Metropolitan Area, which is the Largest Metro Area in the State
  • Upon Certificate of Occupancy, the Newly-Constructed Facility will Represent the Best-of-the-Market with Superior Construction and Amenities
  • Encompassed in a Flourishing Region with over 157,000 Individuals Within Five Miles of the Property, Signifying the Need for Self-Storage in the Area
  • An Investor Will Benefit from a 46.5 Percent Renter-Occupied Housing Population and a High Five-Year Population Growth Rate of 1.50 Percent Annually from 2019 to 2024
  • State-of-the-Art Facility Will Consist of a Multistory Building with Elevator Access and Drive-Up Units with Wide Aisles
  • Excellent Accessibility to the Region’s High-Traffic Thoroughfares, Including U.S. Highway 1 and Florida’s Turnpike; Two of the Most Heavily-Utilized Roadways in Southeast Florida
  • Situated at the Center of a Booming Suburb with Several National Retailers, Shopping Centers, Apartment Complexes and Growing Residential Zones
  • Sign CA to Download OM & Financials

  • 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 Homestead Storage C/O Opportunity, located in Homestead, FL.

    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.