Self-Storage Facility in Manatee
For Sale
$8,000,000
5550 15TH St E, Bradenton, FL 34203
Self-storage facility with 265 units and 16 parking spaces.
Property Size49,800 SF
Lot Size3.26 Acres
Days on Market256
Property Features for 5550 15TH St E
General Information
Standard status
Active
Size
49,800 SF
Lot size
3.26 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$46,276
Building Details
Building Size
49,800 SF
Year Built
1992
Listing Agency:
GB INTERNATIONAL REALTY
(941) 744-7772
Listed By:
Gloria Brush · License #3272167
(941) 744-7772
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 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 GB INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
This self-storage facility is comprised of nine concrete buildings situated on over three acres of commercial property in an active area of Manatee County. The property features 265 self-storage units, including 144 units measuring 10x20, 36 units measuring 10x10, and 20 units measuring 20x20, along with various other sizes. Additionally, there are 16 parking spaces available. The property also includes two office spaces, with the potential for a third. A cell tower is currently leased on the property. Recent improvements include a new roof installed in 2023, replacement of downspouts and gutters in 2023, and paving work also completed in 2023. The property is located in a desirable location.
Key Highlights
- Prime commercial property spanning over 3 acres in an active area of Manatee County.
- Features 265 self‑storage units of various sizes, including 144 (10x20) units, 36 (10x10) units, and 20 (20x20) units, PLUS 16 parking spaces.
- Cell tower lease providing additional income.
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
$516,625
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
6.46%
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%
$10,332,500
$10.3M
Cap Rate 7%
$7,380,357
$7.4M
Cap Rate 9%
$5,740,278
$5.7M
Market Conditions
NOI Build-Up for 49,800 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
$776.9K $15.60/SF
− Vacancy
−$38.8K −$0.78/SF
EGI
$738.0K $14.82/SF
− OpEx
−$221.4K −$4.45/SF
NOI
$516.6K $10.37/SF
Area
Manatee County, FL
Vacancy
5.00%
Lease Rate
$15.60 /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%
$10,332,500
Cap Rate 7%
$7,380,357
Cap Rate 9%
$5,740,278
Alternative Uses
Best Use
Self Storage
$7.38M
$6.46M – $8.61M
NOI $516,625 @ 7.0% cap · market cap 6.46%
Second Best
Industrial
$5.99M
$5.24M – $6.98M
NOI $418,956 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$14.64M
$12.81M – $17.09M
NOI $1,025,123 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 34203, FL
39,853
Population
20,709
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
87%
High-School Grad
15.5 sq mi
ZIP Area
2,571
Density / Sq Mi
$68,030
Median Household Income
$39,829
Median Earnings
$1,437
Median Rent
$302,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage facility with 265 units and 16 parking spaces.
Where is this self storage facility located?
The property is located at 5550 15TH St E Bradenton, FL.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Prime commercial property spanning over 3 acres in an active area of Manatee County.; Features **265 self‑storage units** of various sizes, including 144 (10x20) units, 36 (10x10) units, and 20 (20x20) units, PLUS **16 parking spaces**.; Cell tower lease providing additional income.
