1600 Village Green DrPort St. Lucie, FL 34952

Property Details for 1600 Village Green Dr

Lot size

1.67 AC

Property size (Sq ft)

26,770 SF

Property type

Industrial properties

Property subtype

Other warehouses

Description

This exceptional self-storage investment opportunity in Port St. Lucie, FL, presents a compelling value-add proposition. The property, located at 1600 SE Village Green Dr, 34952, comprises four single-story buildings totaling 26,770 square feet on a 1.67-acre lot. Currently boasting 100% occupancy with 115 units, the facility generates a strong NOI of $315,415, representing a 5.44% cap rate. Significant upside potential exists, with a pro-forma NOI projected at $431,366 and a pro-forma cap rate of 7.44%. Built in 2000 and extensively renovated in 2023, the property features a 14-foot ceiling height and 24 parking spaces. The asking price is $5,800,000, translating to $216.66 per square foot and $50,434.78 per unit. The property benefits from a prime location in a high-traffic area, ensuring strong visibility and accessibility. The facility offers a mix of unit sizes to cater to diverse storage needs. Advanced security systems are in place, contributing to high occupancy rates and customer satisfaction. This turnkey operation presents a rare opportunity for investors seeking a stable, high-performing asset with substantial growth potential in a robust market. The property is offered as a 1031 exchange opportunity.

Location Insight

City

Port St. Lucie

County

St. Lucie

State

Florida

Latitude

27.3052

Longitude

-80.3026

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