395 County Road 17AAvon Park, FL 33825

Property Details for 395 County Road 17A

Lot size

1.76 AC

Property size (Sq ft)

20,450 SF

Property type

Industrial properties

Property subtype

Self storage facilities

Description

This exceptional value-add self-storage facility in Avon Park, Florida, presents a compelling investment opportunity. The property, located at 395 County Rd 17A W, 33825, encompasses 20,450 net rentable square feet across three single-story buildings situated on a 1.76-acre lot. The facility boasts 157 units, including a mix of 86 climate-controlled units and 64 drive-up units ranging in size from 25 to 300 square feet. Additional features include six parking spaces and a 1,200-square-foot vacant commercial space, offering immediate potential for increased revenue. The property currently operates at 83% occupancy, generating a strong in-place net operating income (NOI) of $192,724 and a pro-forma cap rate of 9.18%. The asking price is $2,100,000, translating to $102.69 per square foot and $13,375.80 per unit. The facility includes a well-appointed leasing office and keypad gate access, requiring no immediate capital expenditures. The current in-place rents of $1.15 per square foot offer significant upside potential through lease-up of the remaining vacant units. The smaller footprint of the facility allows for a relatively quick stabilization timeline. This fee-simple ownership opportunity provides a strong foundation for immediate cash flow and future growth. The property's location in Highlands County, Florida, offers convenient access to the local community. The projected occupancy date is September 5, 2024.

Location Insight

City

Avon Park

County

Highlands

State

Florida

Latitude

27.6163

Longitude

-81.5054

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