Big Lot Storage

39,550 NRSF | 65 Units | Panama City Beach, FL

INVESTMENT OVERVIEW

Big Lot Storage, located in Panama City Beach, FL consists of 39,550 NRSF. Included is a mix of 10 parking units and 55 drive-up flex units which range from 400-1200 SF. The property consistently maintains 100% physical occupancy year-round with a long waiting list. The facility was built in 3 phases starting in 1996 and the final phase ending in 2000. The property allows 24-hour access for its tenants and flexible month-to-month leases. The facility also has recently installed cameras for security purposes along with new LED lighting fixtures around the property.

Big Lot Storage is located off of Middle Beach Road where it sees 25,000 VPD on average. The property has no immediate competitors and is within a high barrier to entry market. Both of these factors together allow for immediate rental rate upside and market dominance as there is no other similar unit offering at other facilities in the area.

Facility Summary

Property Name: Big Lot Storage
Address: 8 Miracle Strip Loop, Suite 10, Panama City Beach, FL 32407
County: Bay
Land Area: 2.09 Acres +/-
Total NRSF: 39,550
Total Units: 65
Drive-Up Units: 52
Office Units: 3
Parking Units: 10
Physical Occupancy: 100%
Building Count: 5 Drive-Up Buildings
Main Building: Includes leasing office and 3 Office Units
Flood Zone: Zone X

Investment Highlights

  • 39,550 NRSF | 55 Units | 100% Physical Occupancy
  • Immediate rental rate and revenue management upside
  • No direct competitors in the trade area thus providing market dominance
  • High barriers to entry in the immediate trade area
  • Opportunity to integrate online rentals and other management systems for increased efficiencies
  • Flood Zone: X

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