Remodeled Storage Facility with
1018 Cutters Way South Daytona, FL 32119
1018 Cutters Way, South Daytona, FL, 32119
Contact for pricing
For Sale
Contact for pricing
Storage facility with apartments, cabinet shop, and owner financing.
Property Size4,926 SF
Price / SF$157.33
Days on Market696
Property Features for 1018 Cutters Way
General Information
- Standard status
- Active
- Size
- 4,926 SF
- Property subtype
- Industrial, Office, Retail, Mixed Use, Special Purpose, Multifamily
Building Details
- Year Built
- 1977
Listing Agency
Ray Joy Realty LLC
(386) 401-1000
Listed by
Ray Joy · License #FL
Source
Crexi
Added: Aug 20, 2024 Checked: Jul 15 at 10:50 pm
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ray Joy Realty LLC
Investment Insights
Based on property information with market context.
This property features a storage facility with 16 units, accompanied by two apartments—one efficiency and one three-bedroom unit. The property has been fully remodeled, incorporating granite countertops, new appliances, new air conditioning, new water heaters, a metal roof, and updated bathrooms. Additionally, there is a cabinet making shop with a permanent tenant. The property is zoned BHC Business Heavy Commercial. At full capacity, the property generates an income of $7650+ per month. The storage units are reported to be 95% occupied with a waiting list. Owner financing is available. The total property size is 4926 square feet.
Key Highlights
- Turnkey storage facility operation with owner financing available.
- High occupancy rate (95%) with a waiting list showing strong demand.
- Significant monthly income potential of $7650+ at full capacity.
Local Financial Insights For Self Storage
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $73.9k | $15.00 |
| − Vacancy | −$4.4k | −$0.90 |
| EGI | $69.5k | $14.10 |
| − OpEx | −$20.8k | −$4.23 |
| NOI | $48.6k | $9.87 |
4,926 SF · lease $15.00/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Self Storage
$694.6K
$607.8K – $810.3K
NOI $48,620 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$536.2K
$469.2K – $625.6K
NOI $37,536 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,673 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Storage facility with apartments, cabinet shop, and owner financing.
Where is this self storage facility located?
The property is located at 1018 Cutters Way South Daytona, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Turnkey storage facility operation with owner financing available.; High occupancy rate (95%) with a waiting list showing strong demand.; Significant monthly income potential of $7650+ at full capacity.
