For Sale
$2,699,000

102 James StVenice, FL 34285

High-demand climate-controlled units, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This 20,150 sq ft self-storage facility in Venice, FL, presents a compelling value-add opportunity. Boasting 461 climate-controlled units within a caged/fenced facility, it sits on a 0.92-acre lot (APN: 0428070013) and benefits from a prime location adjacent to the Venice Bypass, enjoying high visibility and traffic counts (39,000+ AADT). Built in 1973 and renovated in 2012, the property offers significant upside potential through rent standardization and market rate adjustments. The strong demographics of the area, with 87,966 residents within a 5-mile radius and an average household income of $113,522, further enhance its investment appeal. The property's diversified unit mix, gross lease structure, and multi-tenancy contribute to its robust cash flow. The asking price is $2,699,000, representing a price per square foot of $133.95 and a price per unit of $5,854.66, with a projected 7.25% cap rate. Located in the desirable North Port-Sarasota-Bradenton Metropolitan Area, this property offers a blend of established income and growth potential. The property includes a sales office and generates income from U-Haul and supply sales in addition to storage rentals.

Highlights

  • 461 climate-controlled self-storage units in a fenced facility.
  • Significant rental upside potential through market rate adjustments and standardization.
  • Prime location in the North Port-Sarasota-Bradenton MSA, offering high visibility adjacent to the Venice Bypass (39,000+ AADT).
  • Strong demographics: 87,966 residents within 5 miles, average household income $113,522.
  • 20,150 square feet on a 0.92-acre lot in Venice, FL; Asking price: $2,699,000 ($133.95/SF, $5,854.66/unit, 7.25% cap rate).

Property Details for 102 James St

Property type
Self storage facilities
Square Feet
20,150 SF
Year Built/Renovated
1973/2012
Lot Size (sq. ft)
40,075 SF
Units
461

Location Insight

City
Venice
County
Sarasota
State
Florida
Latitude
27.082813324536
Longitude
-82.424544190627
102 James St, Venice, Florida

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102 James St
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