Hyde Park Self Storage is home to 197 climate-controlled units, ranging in size from 15 square feet to 300 square feet, on 10,896 rentable square feet. The self-managed asset features access to a cargo lift for upper-level units, and has video surveillance and a full alarm and fire system to ensure secure storage.
The facility is located at 1600 West Platt Street, near major thoroughfares State Road 60 and the Selmon Expressway. State Road 60, known as Kennedy Boulevard, is one of South Tampa’s busiest east-west roads, with outstanding day and evening vehicle traffic. The asset is also visible from the Selmon Expressway, which sees over 51,000 vehicles daily. Surrounding the facility is a superb mixture of multifamily complexes, single-family residences and retailers, including the nearby Historic Hyde Park Village, a 266,000-square foot, outdoor shopping center anchored by tenants CinéBistro, Pottery Barn, West Elm and multiple high-end restaurants. Additional retailers in the near vicinity include Walmart, Tijuana Flats, Starbucks, McDonald’s, and many others. Within this desirable residential neighborhood is a one-mile population of 22,772 and a three-mile population of 118,411, paired with a high ratio of renter-occupied housing units and a swelling population increase in both radii.
Acquisition guarantees exceptionally rare opportunity to obtain self-storage asset located in Tampa’s highest barrier-to-entry market, the affluent neighborhood of Hyde Park. Since 2017, the subject has undergone extensive upgrades, including a upgraded video surveillance system and a PTI door access system to allow for after-hours building access, in addition to new painting, landscaping and renovations to the office and bathroom. The excellent care of the facility allows an investor to acquire the asset with little maintenance required. Historically, the property has maintained high occupancies and demand continues to remain strong, as indicated by the current physical and economic occupancies of 84 percent and 96 percent, respectively.
- Rare Opportunity to Acquire a Secure Investment in Tampa’s Affluent Neighborhood of Hyde Park
- High Barrier-to-Entry Market in the Tampa Bay MSA
- Three-Mile Radius Supply Less Than the Florida Average
- Consistent Rental Rate Growth
- High Physical & Economic Occupancies
- High Ratio of Renter-Occupied Housing Units
- Outstanding Demographics with an Average Household Income Exceeding the National Average
- Convenient Access to Major Thoroughfares State Road 60 and the Selmon Expressway
- Fantastic Mixture of Residential and Retailers in the Immediate Vicinity and Numerous Developments