Kelly Road Mini Storage ~ Niceville, FL

Industrial for Sale
Sale Pending
Catylist Listing ID: 30872425
Property Subtypes: Self Storage
Status: Pending
Building Size (RSF): 19,650 SF
Gross Land Area: 1.42 Acres
Sale Price: $799,000
Unit Price: $40.66 PSF
Property Use Type: Investment
Building Name: KELLY ROAD MINI STORAGE
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 5/13/2024

Overview / Comments

Value Add investment property in Central Okaloosa County, FL. Boasting a well-maintained 19,650 SF self storage complex boasting 196 units, this facility offers ample space for a thriving Self Storage business. Phase 1 built in 1998 and phase 2 built in 2005, the property is designed to meet the diverse needs of tenants. Zoned C-2 by the City of Niceville, this strategically located asset presents an ideal setting for an owner / investor seeking a robust and lucrative opportunity with tremendous upside. With its strategic location, this property is poised to deliver significant returns. Current rent roll is only at 75% occupied at what I believe are under market rent. This property is all non-climate controlled space.

Financials

Finance Data Year 2024
Real Estate Taxes - Annual($) $9,095 (Annual)
Potential Rental Income $155,520 (Annual)
Gross Operating Income $92,047 (Annual)
Net Operating Income $48,522 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Taxing Authority: Okaloosa County
Tax ID/APN: 01-1S-23-0000-0048-0030
Zoning: C-2 WITHIN CITY OF NICEVILLE
Tenancy: Multiple Tenants
Total Number of Buildings: 16

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,283 19,504 34,487
Median Age: 36.15 40.92 41.75
Households: 1,400 7,658 13,564

Contact

Photograph of Listing Agent

Brett Stuart

Taylor Allen Properties LLC Gulf Coast CMLS Member
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