Remodeled Storage Facility with
For Sale
Contact for pricing
1018 Cutters Way, South Daytona, FL 32119
Storage facility with apartments, cabinet shop, and owner financing.
Property Size4,926 SF
Price / SF$157.33
Days on Market787
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Property Features for 1018 Cutters Way
General Information
Standard status
Active
Size
4,926 SF
Property subtype
Office, Retail, Industrial, Mixed Use, Special Purpose, Multifamily, Business for Sale
Zoning
BHC
Lease Type
Gross
Net Operating Income
$93,600
Building Details
Year Built
1977
Year Renovated
2024
Buildings
3
Stories
2
Units
16
Tenancy
Multi
Listing Agency:
Ray Joy Realty LLC
Listed By:
Ray Joy · License #FL
(386) 401-1000
Source:
Crexi
Added: Aug 20, 2024
Changed: Oct 3
Last Checked: Oct 14 at 9:49PM
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,620
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$972,400
$972.4K
Cap Rate 7%
$694,571
$694.6K
Cap Rate 9%
$540,222
$540.2K
Market Conditions
NOI Build-Up for 4,926 SF
Gross rent
$73.9K $15.00/SF
− Vacancy
−$4.4K −$0.90/SF
EGI
$69.5K $14.10/SF
− OpEx
−$20.8K −$4.23/SF
NOI
$48.6K $9.87/SF
Area
Volusia County, FL
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$972,400
Cap Rate 7%
$694,571
Cap Rate 9%
$540,222
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 authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 32119, FL
22,498
Population
12,629
Households
1.8
Avg Household Size
50
Median Age
27%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
2,884
Density / Sq Mi
$53,795
Median Household Income
$37,675
Median Earnings
$1,371
Median Rent
$215,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
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.
