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.
- 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