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Self-Storage Facility

Extra Space Storage (Managed)

530 Mary Esther Cut Off NW, Fort Walton Beach, FL 32548

Listing Price: $22,000,000

Cap Rate
4.88%
Number of Units
858
Occupancy
67.0%
Gross SF
83,778
Rentable SF
83,778
Price/Rentable SF
$262.60
Year Built
2021

Investment Overview

Marcus Millichap is pleased to exclusively offer for sale Extra Space Storage (Managed) located in Fort Walton Beach, Florida. The facility consists of 841 climate controlled units and 17 non-climate controlled units totaling 83,778 net rentable square feet. This is a class-A, new construction facility that opened in March 2021. In under four months of operation it has already achieved a physical occupancy of 25 percent. The property has a keypad entry, an on-site management office, and 24-hour video surveillance.

The location of this facility benefits from a rapidly growing surrounding population. The population within five miles of the facility is 71,927, which represents an 11 percent increase since 2000 and the population is expected to continue to grow over the next five years. They are located off a busy street and are surrounded by lots of residential neighborhoods, as well as restaurants, retail stores, and schools. This offers the facility great street frontage and high daily traffic counts of around 25,500 cars per day off Mary Esther Cut Off Northwest.

Extra Space Storage (Managed) is being offered for $22.0 million or $262.60 per rentable square foot.

Investment Highlights

  • Brand New, Class A Self-Storage Facility
  • Opened in March 2021 | Achieved 25 Percent Physical Occupancy in First Four Months
  • 83,778 Net Rentable Square Feet
  • 841 Climate Controlled Units
  • 17 Non-Climate Controlled Units

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Self-Storage Facility

Extra Space Storage (Managed)

Listing Price: $22,000,000

Cap Rate
4.88%
Number of Units
858
Occupancy
67.0%
Gross SF
83,778
Rentable SF
83,778
Price/Rentable SF
$262.60
Year Built
2021

Investment Highlights

  • Brand New, Class A Self-Storage Facility
  • Opened in March 2021 | Achieved 25 Percent Physical Occupancy in First Four Months
  • 83,778 Net Rentable Square Feet
  • 841 Climate Controlled Units
  • 17 Non-Climate Controlled Units

Investment Overview

Marcus Millichap is pleased to exclusively offer for sale Extra Space Storage (Managed) located in Fort Walton Beach, Florida. The facility consists of 841 climate controlled units and 17 non-climate controlled units totaling 83,778 net rentable square feet. This is a class-A, new construction facility that opened in March 2021. In under four months of operation it has already achieved a physical occupancy of 25 percent. The property has a keypad entry, an on-site management office, and 24-hour video surveillance.

The location of this facility benefits from a rapidly growing surrounding population. The population within five miles of the facility is 71,927, which represents an 11 percent increase since 2000 and the population is expected to continue to grow over the next five years. They are located off a busy street and are surrounded by lots of residential neighborhoods, as well as restaurants, retail stores, and schools. This offers the facility great street frontage and high daily traffic counts of around 25,500 cars per day off Mary Esther Cut Off Northwest.

Extra Space Storage (Managed) is being offered for $22.0 million or $262.60 per rentable square foot.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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