265 Unit Storage
For Sale
Contact for pricing
5550 15th Street East, Bradenton, FL 34203
Self-storage facility for sale, featuring 265 units.
Property Size49,800 SF
Price / SF$160.64
Days on Market101
Property Features for 5550 15th Street East
General Information
Standard status
Active
Size
49,800 SF
Total Parking Spaces
20
Property subtype
Retail, Self Storage
Occupancy
69%
Building Details
Year Built
1992
Units
265
Tenancy
Multi
Listing Agency:
GB INTERNATIONAL REALTY
(941) 744-7772
Listed By:
Gloria Brush · License #BK3272167
Source:
Crexi
Added: May 23
Changed: Aug 28
Last Checked: Aug 29 at 9:08AM
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 commercial real estate offering is a self-storage facility featuring 265 units. The property encompasses a total size of 49800 square feet.
Key Highlights
- 265 unit storage business
- Established business - turnkey opportunity
- Built in 1992
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
602
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 for sale, featuring 265 units.
Where is this self storage facility located?
The property is located at 5550 15th Street East 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: 265 unit storage business; Established business - turnkey opportunity; Built in 1992
