Self-Storage Facility with
323 Overseas Highway Key West, FL 33040
323 Overseas Highway, Key West, FL, 33040
$3,500,000
For Sale
$3,500,000
Newer self-storage facility with climate-controlled units, gated lot, elevator, and approved external stackable containers.
Property Size6,912 SF
Lot Size0.52 Acres
Price / SF$506.37
Days on Market16
Property Features for 323 Overseas Highway
General Information
- Standard status
- Active
- Size
- 6,912 SF
- Lot size
- 0.52 Acres
Building Details
- Year Built
- 2020
Listing agency
Berkshire Hathaway HomeServices Knight & Gardner Realty
(305) 902-2447
Listed by
Team Gardner/Langley · License #BK612006
(305) 902-2447
Source
Laerrealty
Added: Jul 6 Updated: Jul 21 at 3:32AM Checked: Jul 21 at 3:32AM
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 Berkshire Hathaway HomeServices Knight & Gardner Realty
Investment Insights
Based on property information with market context.
Self-storage facility built in 2020 featuring approximately 90 climate-controlled interior storage units in a mix of locker-style spaces and traditional units with roll-up doors. The elevated three-story building totals approximately 6,912 SF and is supported by a poured concrete foundation and concrete/steel frame, with impact-resistant windows and doors. Improvements include security systems, a fire sprinkler system, an elevator lift, two staircases, and on-site office space with a restroom. The fully gated lot is approximately 22,500 SF and is approved for 11 external stackable containers, with the site also suited for open parking for trailers, RVs, or additional storage.
The property is located directly on US Highway 1 near Mile Marker 10, just outside the City of Key West, providing exposure to passing traffic.
For operations and tenant access, the facility offers both interior storage and additional container capacity, supported by the building’s elevator and stair access, plus office space for day-to-day management.
The property is located directly on US Highway 1 near Mile Marker 10, just outside the City of Key West, providing exposure to passing traffic.
For operations and tenant access, the facility offers both interior storage and additional container capacity, supported by the building’s elevator and stair access, plus office space for day-to-day management.
Key Highlights
- Self‑storage facility built in 2020 with approx. 6,912 SF elevated three‑story building on US Highway 1 near Mile Marker 10.
- About 90 climate‑controlled interior storage units, including lockers and traditional roll‑up door units, with various sizes.
- Fully gated approx. 22,500 SF lot with security systems and fire sprinkler system.
Local Financial Insights For Warehouse
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 | $139.3k | $20.16 |
| − Vacancy | −$6.7k | −$0.97 |
| EGI | $132.7k | $19.19 |
| − OpEx | −$19.9k | −$2.88 |
| NOI | $112.8k | $16.31 |
6,912 SF · lease $20.16/SF/yr · vacancy 4.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.61M
$1.41M – $1.88M
NOI $112,759 @ 7.0% cap · market cap 3.22%
Second Best
Self Storage
$1.01M
$886.9K – $1.18M
NOI $70,950 @ 7.0% cap · market cap 2.03%
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,620 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Self storage facilities
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Newer self-storage facility with climate-controlled units, gated lot, elevator, and approved external stackable containers.
Where is this self storage facility located?
The property is located at 323 Overseas Highway Key West, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Self‑storage facility built in 2020 with approx. 6,912 SF elevated three‑story building on US Highway 1 near Mile Marker 10.; About 90 climate‑controlled interior storage units, including lockers and traditional roll‑up door units, with various sizes.; Fully gated approx. 22,500 SF lot with security systems and fire sprinkler system.
