54 U-Store

99,334 NRSF | 936 Units | Lutz, FL (Tampa Bay MSA)

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Investment Description:

54 U-Store is comprised of 936 units, among 99,119 NRSF, of which 527 units are climate controlled, with the remaing 274 units Non-Climate. There are an additional 134 outdoor parking spaces totaling 2 Acres, allowing 54 U-Store to provide the most diverse array of unit sizes to suit the needs of every customer in the immediate trade area. Acquisition will allow a new operator to immediately take over a well-established, state-of-the art facility with a commanding market share in the high growth East Pasco Submarket, which sits directly in the core of residential growth in the Tampa Bay Area. 54 U-Store is a market leader in amenities, upkeep and security, featuring lighted units, convenient LED Keypad Gate Access, unmatched cleanliness, music throughout the facility, and 45 Security cameras to provide complete security and customer safety.

Investment Highlights:
  •  As the largest Self-Storage Based U-Haul business in the Tampa Bay Area, 54 U-Store uses this best of market program to attract both new and repeat customers.

  • Outstanding Physical occupancy of 92.4% (Area) reflects the high demand for storage within the market, and further demonstrates the superior quality of the facility as well as its location.

  • The Economic Occupancy of 85.9% is an indicator of the upside available through reducing rate variance which totals $8,290.39 per month as of Jan. 2nd 2019.

  • Situated upon 19.86 +/- prime acres along State Road 54, the 2 acres of outdoor parking provide ample opportunty to expand the facility alongside its flourishing market by adding new buildings where the RV parking area currently sits. The acreage in the back has one newly renovated rental house as well as a rental barn & garage which generate additional income and the excess land will provide ample retention area for expansion efforts.

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