American Value Storage

35,129 NRSF| 601 Units | Port Charlotte, FL

Closed

INVESTMENT OVERVIEW

American Value Storage presents the opportunity to acquire a fully stabilized self storage facility with multiple upsides in  fast-growing Southwest Florida. The facility consists of 411 Climate Controlled Units, 181 Non-Climate Units, 9 rentable parking spaces, and 27 mailboxes (not counted in unit total) for a total of 601 units among 35,136 NRSF.

American Value Storage currently boasts strong physical and economic occupancies of 97.4% (Area) and 87.3%, respectively, which indicates the strong demand for self storage in the trade area, as well as the quality of the asset and its strong location. The facility is strategically located, and benefits from excellent visibility and exposure on Tamiami Trail, which witnesses traffic counts in excess of 41,000 VPD. Further, this facility is in immediate proximity to the Peace River Bridge, connecting Port Charlotte with the City of Punta Gorda.

American Value Storage offers new ownership the benefits of a fully stabilized facility with multiple upsides to increase revenue. Currently, the facility sustains a monthly VARC of approximately $4,434 which will enable an investor to increase rates on in-place tenants to drive revenue. Further, an operator will be benefit by building upon the already successful ancillary income sources such as truck rentals, retail sales and tenant insurance.

Facility Summary
Address:            23227 Freedom Ave., Port Charlotte, FL 
 
County:              Charlotte
 
Land Area:         2.9 AC +/-
 
NRSF:                  35,136 NRSF 
 
Units:                  601 (411 CC | 181 NC | 9 Parking)
 
Occupancy:        97.8% (Physical) | 95.3% (Economic)
 
Unit Sizes:          6-300 SF
 
Buildings:          5 Single Story Self Storage 
  
Built:                  1997
 
Investment Highlights:
  • 35,136 NRSF | 601 Units
  • Excellent physical and economic occupancies of 97.4% and 87.3%, respectively
  • Current Monthly VARC of $4,434
  • Situated in the rapidly growing Southwest Florida Market
  • Closest facility to Peace River Bridge, to conveniently serve tenants in Punta Gorda
  • Recent Capex to include new TPO roof on climate building, new camera system and doors to be painted prior to closing.