Space Coast Self Storage Opportunity

Space Coast Self Storage Opportunity2020-09-08T13:17:58-04:00

Project Description

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

Call for Info – 72,413 NRSF

1060 Polo Drive, Melbourne, FL 32904
Brevard County

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.

Investment Highlights:

  • 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
  • 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 Space Coast 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.