960-Unit Self Storage
For Sale
Contact for pricing
21885 US-441, Mount Dora, FL 32757
Class B storage property with indoor climate-controlled space added in 2025 and an adjacent RV storage parcel.
Property Size116,815 SF
Price / SF$145.53
Days on Market10
Property Features for 21885 US-441
General Information
Standard status
Active
Size
116,815 SF
Class
B
Property subtype
Self Storage
Occupancy
80%
Investment Type
Value Add
Net Operating Income
$652,220
Building Details
Year Built
1994
Year Renovated
2025
Units
960
Listing Agency:
Grandstone Investment Sales
Listed By:
Meir Perlmuter · License #BK3443325
Source:
Crexi
Added: Aug 31
Changed: Sep 7
Last Checked: Sep 8 at 6:15AM
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 Grandstone Investment Sales
Investment Insights
Based on property information with market context.
MyPlace Self Storage is a Class B facility built in 1994 with 960 units across 116,815 square feet on 11.26 acres. An indoor climate-controlled expansion was completed in 2025, adding to the property's storage configuration. Physical occupancy was 77.0% and economic occupancy was 65.8% as of July 31, 2026.
The property fronts US-441 in Lake County, Florida, at 21885 US-441, Mount Dora, FL 32757. Lease-up averaged approximately 10.6 net units per month after the expansion, while monthly storage rental revenue increased approximately 20.9% over the trailing twelve months. An adjacent income-producing RV storage parcel is also associated with the property.
The property fronts US-441 in Lake County, Florida, at 21885 US-441, Mount Dora, FL 32757. Lease-up averaged approximately 10.6 net units per month after the expansion, while monthly storage rental revenue increased approximately 20.9% over the trailing twelve months. An adjacent income-producing RV storage parcel is also associated with the property.
Key Highlights
- 960‑unit self‑storage facility totaling 116,815 square feet
- Situated on 11.26 acres along US‑441 in Lake County, Florida
- 2025 indoor climate‑controlled expansion
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,095,071
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$21,901,420
$21.9M
Cap Rate 7%
$15,643,871
$15.6M
Cap Rate 9%
$12,167,456
$12.2M
Market Conditions
NOI Build-Up for 116,815 SF
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.
Gross rent
$1.68M $14.40/SF
− Vacancy
−$117.7K −$1.01/SF
EGI
$1.56M $13.39/SF
− OpEx
−$469.3K −$4.02/SF
NOI
$1.10M $9.37/SF
Area
Lake County, FL
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$21,901,420
Cap Rate 7%
$15,643,871
Cap Rate 9%
$12,167,456
Alternative Uses
Best Use
Self Storage
$15.64M
$13.69M – $18.25M
NOI $1,095,071 @ 7.0% cap · market cap 6.44%
Second Best
Warehouse
$11.32M
$9.90M – $13.21M
NOI $792,392 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$33.24M
$29.09M – $38.78M
NOI $2,326,955 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 32757, FL
30,315
Population
14,625
Households
2.1
Avg Household Size
49
Median Age
36%
College-Educated
92%
High-School Grad
35.3 sq mi
ZIP Area
859
Density / Sq Mi
$73,327
Median Household Income
$40,565
Median Earnings
$1,474
Median Rent
$325,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Class B storage property with indoor climate-controlled space added in 2025 and an adjacent RV storage parcel.
Where is this self storage facility located?
The property is located at 21885 US-441 Mount Dora, FL.
What is the asking price?
The asking price for this property is $17,000,000.
What are key features of this property?
This property features: 960‑unit self‑storage facility totaling 116,815 square feet; Situated on 11.26 acres along US‑441 in Lake County, Florida; 2025 indoor climate‑controlled expansion
