The Space Coast Self Storage Opportunity consists of 72,413 rentable square feet on approximately 4.2 acres of land. The facility offers a large variety of well-maintained options, including 397 climate-controlled units, 288 drive-up units and 14 rental parking spaces for a total of 699 units. The facility recently added a brand-new, climate-controlled building to accommodate the area’s high demand for self-storage. The subject property is surrounded by several dense residential corridors and a multitude of national retailers. Additionally, the property shares a prime access easement with the adjacent apartment complex. To ensure a secure premise, the facility offers individually alarmed units, 24-hour video surveillance, perimeter-wide fencing and electronic gate access.
The subject property is ideally situated in Melbourne, Florida, which is one of the most desirable regions along the east coast of Florida. The facility offer direct frontage along Dairy Road and offers convenient access to Interstate 95; these thoroughfares witness over 20,000 and 80,000 vehicles per day. There are over 78,000 individuals within three miles of the property. Additionally, the subject will benefit from a projected growth rate of 1.7 percent annually over the next five years. Furthermore, the surrounding vicinity highlights a fantastic blend of residential homes and nationally recognized retailers.
The opportunity allows an investor with the ability to acquire a Class A storage asset with multiple upsides. A buyer can capitalize on a new lease-up phase by raising occupancies on new units; the facility recently opened a brand new, state-of-the-art building at the back of the property. Additionally, new management can implement a truck rental program and bolster the current tenant insurance program to further increase profits. The subject property is the only storage provider with new construction within a one-mile radius. This opportunity encompasses all the desirable components for the ideal storage investment; the facility’s new construction, excellent demographics and premium location in one of the fastest-growing regions of Florida will allow for consistent growth and success in the current and future market.
- Class A Storage Asset with Multiple Upsides in a Densely Populated Corridor of Melbourne, Florida
- Capitalize on Recent Climate-Controlled Expansion
- Direct Frontage Along Dairy Road and Easy Access to I-95, with Traffic Counts of 20,000 and 80,000 Vehicles Daily
- Over 78,000 Individuals Within Three Miles
- Three-Mile Projected Growth Rate of 1.7 Percent Over the Next Five Years
- Surrounded by a Multitude of Dense Residential Corridors and National Retailers
- Serves as the Premier Storage option Within the Immediate Vicinity
- Close Proximity to Interstate 35 with Over 42,000 Vehicles Per Day