Rockledge Self Storage Opportunity

Rockledge Self Storage Opportunity2020-09-10T13:11:48-04:00

Project Description

The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale the Rockledge Self Storage Opportunity.

Call for Info – 107,081 NRSF

5485 B Schneck Ave, Rockledge, FL 32955
Brevard County

The subject property consists of 107,081 net rentable square feet across 7.57 acres of land. The facility offers 372 climate-controlled units, 450 drive-up units and 25 boat/RV parking spaces for a total of 848 units. The property offers wide aisles and ground-level access throughout for consumer convenience. Additionally, the subject offers a 2 bed/1 bath on-site manager’s apartment. The facility has a physical occupancy of 66 percent, with ample room for growth within a desirable region of Brevard County, Florida. The site utilizes perimeter-wide fencing, electronic gating and 24-hour video surveillance to ensure secure self-storage.

The portfolio is ideally situated in Rockledge, Florida, a key component of Brevard County along the Atlantic coast of Florida. The facility offers premium access from Viera Boulevard, which has a traffic count of over 39,000 vehicles daily. Additionally, the site is easily accessible from U.S Highway 1 and Interstate 95, which are two of the state’s most heavily frequented thoroughfares. The facility benefits from its location in the rapidly-growing Palm Bay-Titusville-Melbourne Metropolitan Area; the Rockledge facility has a projected three-mile annual growth rate of 1.1 percent from 2020 to 2025. Furthermore, the facility will benefit from an average three-mile household income exceeding $103,000 annually.

Acquisition of the Rockledge Self Storage Opportunity secures a well-maintained storage asset in a thriving MSA with multiple upsides. An investor can capitalize by continuing to raise occupancies in this expanding region of Brevard County. Upon stabilization, the subject can further benefit by raising rates to meet the market; the 10×10 climate-controlled rates are currently below the comparable average. Additionally, the site offers tenant insurance and truck rentals for additional income. Furthermore, the subject property represents a prime opportunity to establish a significant market footprint along Florida’s desirable Atlantic coast.

Investment Highlights:

  • Prime Opportunity to Acquire a Well-Maintained Asset in an Affluent Corridor of Brevard County, Florida
  • Average Three-Mile Household Income Exceeding $103,000 Annually
  • The Subject Will Benefit from Limited Competition Within the Trade Area
  • Three-Mile Population Growth Rate Above the National Average, Signifying the Area’s Rapid Expansion
  • Easily Accessible from U.S. Highway 1 and Interstate 95, Which are Two of the Most Frequented Roadways in the State
  • Capitalize by Continuing to Increase Occupancies in a Thriving District
  • Raise Rates to Meet the Comparable Average Upon Stabilization; the 10×10 Climate-Controlled Rates are Currently Below Market
  • Impeccably Situated Along the Atlantic Coast of Florida in the Palm Bay-Titusville-Melbourne Metro Area
  • 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 Rockledge 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.