6547 110Th St Belleview, FL 34420

Property Details for 6547 110Th St

Lot size

4.40 lot acres

Property type

Self storage facilities

Description

This exceptional self-storage facility in Belleview, Florida presents a compelling investment opportunity. The property, encompassing 4.4 acres, boasts 60,457 net rentable square feet distributed across eleven buildings constructed between 1948 and 2023. The facility includes 24,776 square feet of climate-controlled storage, 32,240 square feet of non-climate-controlled storage, and 3,441 square feet of commercial/residential space. Currently housing 431 units, the property offers significant expansion potential, including space for at least one additional building and conversion opportunities within existing structures. Recent expansions in 2023 added 10,300 square feet of climate-controlled and 8,300 square feet of non-climate-controlled storage. The property also includes an owner-operated pack-and-ship business generating over $80,000 in annual revenue and is a top-performing U-Haul dealer, projected to earn over $16,000 in commissions in 2024. Further revenue growth opportunities exist through lease-up, rent increases, ancillary fee maximization, and mandatory tenant insurance. The property benefits from roof-mounted solar panels, reducing energy costs. Located in a high-growth area, the facility is within five miles of a population of 69,488 residents, growing at 1.9% annually, and near multiple residential developments, including one directly behind the property. Its proximity to Ocala, home to the World Equestrian Center, and The Villages, a rapidly expanding retirement community, further enhances its investment appeal. The asking price is $6,800,000, with a current NOI of $297,053. The property's APN is 3794-002-001 3794-001-009 3794-002-006 3794-002-007.