204 Kelley Rd - Kelly Road Mini Storage
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204 Kelley Rd - Kelly Road Mini Storage
19,650 SF Speciality Building Offered at £555,997 at a 6.95% Net Initial Yield in Valparaiso, FL 32580
Investment Highlights
- Value Add - only 75% occupied currently
- Leases at below market rates
Executive Summary
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.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£73,216
|
£3.73
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£73,216
|
£3.73
|
| Taxes |
£7,234
|
£0.37
|
| Operating Expenses |
£27,362
|
£1.39
|
| Total Expenses |
£34,597
|
£1.76
|
| Net Operating Income |
£38,619
|
£1.97
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £73,216 |
| Annual Per SF | £3.73 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £73,216 |
| Annual Per SF | £3.73 |
| Taxes | |
|---|---|
| Annual | £7,234 |
| Annual Per SF | £0.37 |
| Operating Expenses | |
|---|---|
| Annual | £27,362 |
| Annual Per SF | £1.39 |
| Total Expenses | |
|---|---|
| Annual | £34,597 |
| Annual Per SF | £1.76 |
| Net Operating Income | |
|---|---|
| Annual | £38,619 |
| Annual Per SF | £1.97 |
Property Facts
| Price | £555,997 | Building Class | C |
| Price Per SF | £28 | Lot Size | 1.42 AC |
| Sale Type | Investment or Owner User | Building Size | 19,650 SF |
| Net Initial Yield | 6.95% | Number of Floors | 1 |
| Property Type | Speciality | Year Built | 1998 |
| Property Subtype | Self-Storage | Parking Ratio | 0.15/1,000 SF |
| Price | £555,997 |
| Price Per SF | £28 |
| Sale Type | Investment or Owner User |
| Net Initial Yield | 6.95% |
| Property Type | Speciality |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 1.42 AC |
| Building Size | 19,650 SF |
| Number of Floors | 1 |
| Year Built | 1998 |
| Parking Ratio | 0.15/1,000 SF |
Amenities
- Signage
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PROPERTY TAXES
| Parcel Number | 01-1S-23-0000-0048-0030 | Total Assessment | £542,695 |
| Land Assessment | £125,197 | Annual Taxes | £7,234 (£0.37/sf) |
| Improvements Assessment | £417,498 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
01-1S-23-0000-0048-0030
Land Assessment
£125,197
Improvements Assessment
£417,498
Total Assessment
£542,695
Annual Taxes
£7,234 (£0.37/sf)
Tax Year
2023
zoning
| Zoning Code | C-2 |
| C-2 |
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204 Kelley Rd - Kelly Road Mini Storage
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