Orlando MSA Self Storage Opportunity

Orlando MSA Self Storage Opportunity2020-10-20T16:50:13-04:00

Project Description

The Orlando MSA Self Storage Opportunity is closed.

Under Contract – NRSF 70,883

2728 W 25th Street
Sanford, FL 32771
The Orlando Metropolitan Area

The Class A subject property in Sanford, Florida is comprised of 70,883 rentable square feet on approximately 6.55 acres of land. It is well-located in the Orlando Metropolitan Statistical Area, which is internationally renowned as a center for tourism, business and education. The state-of-the-art facility offers 742 climate-controlled units and 15 drive-up units ranging from 25 square feet to 540 square feet, in addition to 13 boat/RV parking spaces for a total of 770 units. This facility is currently in its lease-up phase and features video surveillance, a fully enclosed structure, electronic gating and digital keypad access to ensure secure storage.

Located at 2728 West 25th Street, the subject property benefits from a rapidly-growing suburb and excellent proximity to Orlando Sanford International Airport, downtown Orlando and all the world-renowned attractions within the metro area. Additionally, there is a projected three-mile growth rate of 1.1 percent annually from 2020 to 2024. This property is situated directly along 25th Street and has impeccable visibility from Central Florida Greenway; these thoroughfares witness traffic counts in excess of 27,000 and 46,000 vehicles per day. The property is also adjacent to Airport Boulevard, which supports over 11,000 vehicles daily. The facility is only four miles from Interstate 4, which serves as a major commuter roadway in Orlando and throughout the state of Florida. The opportunity is ideally situated within .2 miles of a high-traffic intersection and several national retailers, including 7-Eleven, Wawa, Domino’s Pizza and Walmart, among several others. There is currently a new multi-housing project and several renter-occupied units within a mile of the site, demonstrating the strong need for self-storage within the region.

The Orlando MSA Self Storage Opportunity will allow an investor the chance to acquire a Class A, state-of-the-art asset in one of Florida’s most populated metro areas. The facility has been leasing-up at an expeditious rate since going online and offers forward-looking financial projections with cash-on-cash returns of 10.4 percent and 13.7 percent in years one and two, along with leveraged IRRs of 18.4 percent and 18.2 percent in years five and seven. The strong three-mile population of nearly 75,000 individuals ensures the success of this premium facility for years to come, while a purchaser can capitalize on the facility’s rapid lease-up phase by continuing to market online. The site’s impeccable location, premium amenities and strong projected returns comprise the ideal storage investment in one of the nation’s largest markets.

Investment Highlights:

  • Class A, State-of-the-Art Facility Built in 2017
  • Nearest Competitors are Comprised of 1980’s Construction
  • Nearly 75,000 Individuals Within Three Miles of the Site
  • 44 Percent Renter-Occupied Housing Within Three Miles
  • Capitalize on an Aggressive Lease-Up Phase in One of Florida’s Largest Metro Areas
  • Cash-on-Cash Returns of 10.4 Percent and 13.7 Percent in Years One and Two
  • Leveraged IRR of 18.4 Percent in Year Five
  • Projected Three-Mile Growth Rate of 1.1 Percent Annually
  • Impeccable Visibility from Central Florida Greenway, with a Traffic Count Exceeding 46,000 Vehicles Daily
  • 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 Orlando MSA 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.