Dogwood Storage is spread between 3 locations throughout Milton, FL and consists of 79,122 NRSF of traditional and non-traditional storage. The properties offer climate and non-climate-controlled options along with RV parking making a total of 692 units (including 83 parking). At present, physical occupancy is at 82% while the economic occupancy level trails close behind, at 77%. Competition within the trade area remains low, showing only 3 competitors within 3- miles and limited available units at each. According to Yardi Matrix, there is 7.6 NRSF/Capita of non- climate self-storage and only 3.5 NRSF/Capita of climate-controlled storage surrounding the subject property.
Although well-kept and managed efficiently by the current operator, some up- side remains for a new owner. Climate controlled storage in this market deems high in demand. The current owner’s engineered site plans provide additional options for a new investor to further the number of climate-controlled units and improve future income. The plans suggest an additional 40,000 NRSF of storage at the main site, Dogwood Drive, where visibility from over 15,500 VPD is achieved.