Scott Speer - Intelligence
Listed by Scott Speer - Intelligence
$500,000
719 Griffin Road
Details
Property Type Retail, Self Storage
Sub Type Self Storage Facility
Square Footage 10,470
Units 108
Occupancy 60%
Price per SqFt $48
Year Built 1983–1990
Buildings 5
Acreage 2.000
Investment Type Value Add
Retail | 10,470 SqFt
Marketing description
Rent Key Self Storage presents an opportunity to acquire a value-add self-storage facility located in Chipley, Florida. The property consists of approximately 10,470 net rentable square feet across five storage buildings containing 108 drive-up storage units situated on approximately two acres.
Currently operating at approximately 60% occupancy, the facility offers significant upside through lease-up, revenue growth, operational improvements, and potential future expansion. The property features durable concrete block construction, metal roofing systems, gravel drive aisles, and visible excess land suitable for future development opportunities subject to purchaser verification.
Offered at $500,000, this investment provides an attractive entry point into the self-storage sector with substantial upside potential.
Investment highlights
- 108 Total Storage Units
- 10,470 Net Rentable Square Feet
- Approximately 2 Acres
- Five Storage Buildings
- Current Occupancy Approximately 60%
- Significant Lease-Up Opportunity
- Concrete Block Construction
- Metal Roof Systems
- Drive-Up Accessibility
- Excess Land for Potential Expansion
- Florida Panhandle Location
- Offered at $500,000
- Approximately $47.76 Per Rentable Square Foot
- Leasing existing vacant units
- Enhancing online marketing efforts
- Implementing revenue management strategies
- Optimizing rental rates
- Expanding local advertising
- Improving operational efficiencies
- Introducing tenant insurance programs
- Additional self-storage buildings
- Boat storage
- RV storage
- Covered parking
- Contractor storage
- Container storage
- Additional income-producing improvements
- Continued residential growth
- Increasing household formation
- Strong self-storage demand fundamentals
- Regional transportation access
- Proximity to Panama City and Northwest Florida markets
- Limited institutional self-storage competition
Listing Contacts
Scott Speer - Intelligence
Listed by Scott Speer - Intelligence
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Zoning
C CommercialGeneral CommercialGeneral Commercial
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