Penn Plaza Self Storage
Land | 2.34 acres
Marketing description
Land lease with approximately 31 years remaining. Contact Listing Agent for access to Due Diligence Vault containing financials and supporting property documentation.
Penn Plaza Self Storage presents a rare opportunity to acquire an established self-storage facility with substantial future expansion potential in the heart of Stuart, Florida. Situated on approximately 2.34 acres, the property currently consists of ±15,950 square feet of climate-controlled, interior storage improvements designed to serve the growing residential and recreational needs of the surrounding coastal market.
The facility has been developed with durable pre-engineered steel construction and built to high hurricane-resistant standards, creating a strong long-term operational foundation for investors seeking stable storage assets in coastal Florida. The property also benefits from secured access, perimeter fencing, extensive lighting, and 24/7 surveillance systems.
One of the most compelling aspects of the offering is the property's future development potential. The front ±0.75-acre portion of the site was previously proposed for the development of an approximately 72,000-square-foot, three-story self-storage expansion containing approximately 52,525 square feet of leasable area and 421 additional storage units. This provides investors with a unique opportunity to acquire an existing operating facility while simultaneously positioning for future scale and increased revenue generation.
The property's central Stuart location places it within close proximity to affluent residential neighborhoods, waterfront communities, boating activity, and major transportation corridors throughout Martin County. Demand drivers for traditional self-storage continue to strengthen throughout Florida's Treasure Coast region due to ongoing population growth, wealth migration, and limited develop-able land availability.
Penn Plaza Self Storage offers investors the opportunity to capitalize on existing operational income while unlocking substantial long-term upside through future expansion and continued market growth.
Investment highlights
- Existing Income-Producing Self Storage Facility with established operations in one of South Florida's most desirable coastal communities.
- Significant Value-Add Expansion Potential with previously proposed plans for a ±72,000 SF, three-story self-storage expansion adding approximately 421 additional units.
- Strong Physical Infrastructure featuring pre-engineered steel construction built to high hurricane standards.
- Secure Facility with fencing, controlled access, lighting, and 24/7 surveillance systems.
- Highly Desirable Stuart Location centrally positioned near affluent residential communities, marinas, and major transportation corridors.
- Limited Competing Development Sites within the immediate market enhances long-term storage demand fundamentals.
- Additional Front Pad Development Potential.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
