1600 Village Green Dr Port St. Lucie, FL 34952
- Warehouses
- 26,770 SF
- 1.67 lot acres
Current Use by Public Records
- Warehouses
Property Details for 1600 Village Green Dr
- Lot size
- 1.67 lot acres
- Property size
- 26,770 SF
- Property type
- Warehouses
- Property subtype
- Self storage facilities
Description
This exceptional self-storage investment opportunity in Port St. Lucie, FL, presents a compelling value-add proposition. The property, located at 1600 SE Village Green Dr, 34952, comprises four single-story buildings totaling 26,770 square feet on a 1.67-acre lot. Currently boasting 100% occupancy with 115 units, the facility generates a strong NOI of $315,415, representing a 5.44% cap rate. Significant upside potential exists, with a pro-forma NOI projected at $431,366 and a pro-forma cap rate of 7.44%. Built in 2000 and extensively renovated in 2023, the property features a 14-foot ceiling height and 24 parking spaces. The asking price is $5,800,000, translating to $216.66 per square foot and $50,434.78 per unit. The property benefits from a prime location in a high-traffic area, ensuring strong visibility and accessibility. The facility offers a mix of unit sizes to cater to diverse storage needs. Advanced security systems are in place, contributing to high occupancy rates and customer satisfaction. This turnkey operation presents a rare opportunity for investors seeking a stable, high-performing asset with substantial growth potential in a robust market. The property is offered as a 1031 exchange opportunity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Port St. Lucie
- County
- St. Lucie
- State
- Florida
- Longitude
- -80.3026
- Latitude
- 27.3052
