Homosassa Storage Investment
8787 S Suncoast Blvd Homosassa, FL 34446
8787 S Suncoast Blvd, Homosassa, FL, 34446
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For Sale
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Self-storage facility with upside potential in Homosassa, Florida.
Property Size50,700 SF
Lot Size5.43 Acres
Price / SF$187.38
Days on Market114
Property Features for 8787 S Suncoast Blvd
General Information
- Standard status
- Active
- Size
- 50,700 SF
- Lot size
- 5.43 Acres
- Property subtype
- Self Storage
Listing Agency
Ripco Real Estate
(407) 924-1408
Listed by
Jack Kaiser · License #FL SL3519490
Source
Crexi
Added: Mar 26 Checked: Jul 17 at 8:37 am
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.
Local Financial Insights For Self Storage
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 | $669.2k | $13.20 |
| − Vacancy | −$53.5k | −$1.06 |
| EGI | $615.7k | $12.14 |
| − OpEx | −$184.7k | −$3.64 |
| NOI | $431.0k | $8.50 |
50,700 SF · lease $13.20/SF/yr · vacancy 8.00% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Homosassa Storage
Storage Facility
Similar For Sale Nearby
FAQs
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.
