Homosassa Storage Investment
For Sale
Contact for pricing
8787 S Suncoast Blvd, Homosassa, FL 34446
Self-storage facility with upside potential in Homosassa, Florida.
Property Size50,700 SF
Lot Size5.43 Acres
Price / SF$187.38
Days on Market160
Property Features for 8787 S Suncoast Blvd
General Information
Standard status
Active
Size
50,700 SF
Class
A
Lot size
5.43 Acres
Property subtype
Self Storage
Occupancy
96%
Investment Type
Stabilized
Building Details
Buildings
7
Stories
1
Units
485
Listing Agency:
Ripco Real Estate
(407) 924-1408
Listed By:
Jack Kaiser · License #FL SL3519490
Source:
Crexi
Added: Mar 26
Changed: Aug 17
Last Checked: Aug 31 at 1:10AM
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 Ripco Real Estate
Investment Insights
Based on property information with market context.
Homosassa Storage, located at 8787 S Suncoast Blvd in Homosassa, Florida, is offered for sale. This self-storage facility features a total of 485 units, including 175 non-climate units, 190 climate-controlled units, and 120 uncovered RV/Boat parking spaces. The property includes 50,700 square feet under roof and approximately 1 acre of dedicated outdoor parking. Situated on 5.43 acres, the facility is enclosed by a perimeter fence and features a gated entry. Three of the storage buildings were constructed in 2000, with the remaining four buildings completed within the last four years. The property is currently 96% physically occupied. Located on Florida’s Gulf Coast, near the southern end of Florida’s Big Bend, Homosassa is known for manatee watching, paddling, scalloping, and fishing. This property presents an opportunity for an investor to acquire a self-storage property with potential for increased revenue through self-management and rental rate adjustments. The area is a popular sport fishing destination and a working commercial fishing port on the Gulf of Mexico.
Key Highlights
- 96% physical occupancy rate indicates strong current performance.
- Diverse income streams from climate‑controlled, non‑climate‑controlled, and RV/Boat storage.
- Recent construction minimizes near‑term capital expenditures.
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
$430,991
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
4.54%
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%
$8,619,820
$8.6M
Cap Rate 7%
$6,157,014
$6.2M
Cap Rate 9%
$4,788,789
$4.8M
Market Conditions
NOI Build-Up for 50,700 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
$669.2K $13.20/SF
− Vacancy
−$53.5K −$1.06/SF
EGI
$615.7K $12.14/SF
− OpEx
−$184.7K −$3.64/SF
NOI
$431.0K $8.50/SF
Area
Citrus County, FL
Vacancy
8.00%
Lease Rate
$13.20 /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%
$8,619,820
Cap Rate 7%
$6,157,014
Cap Rate 9%
$4,788,789
Alternative Uses
Best Use
Self Storage
$6.16M
$5.39M – $7.18M
NOI $430,991 @ 7.0% cap · market cap 4.54%
Second Best
Industrial
$4.77M
$4.18M – $5.57M
NOI $334,039 @ 7.0% cap · market cap 3.52%
Theoretical Best
Specialty Retail
$11.39M
$9.97M – $13.29M
NOI $797,453 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
Explore this area
Business Placement
Demographics for 34446, FL
18,431
Population
9,588
Households
1.9
Avg Household Size
62
Median Age
18%
College-Educated
89%
High-School Grad
29.8 sq mi
ZIP Area
618
Density / Sq Mi
$60,625
Median Household Income
$41,423
Median Earnings
$938
Median Rent
$231,700
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 upside potential in Homosassa, Florida.
Where is this self storage facility located?
The property is located at 8787 S Suncoast Blvd Homosassa, FL.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: 96% physical occupancy rate indicates strong current performance.; Diverse income streams from climate‑controlled, non‑climate‑controlled, and RV/Boat storage.; Recent construction minimizes near‑term capital expenditures.
