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34359046
34359047

1158 8th Avenue West, Palmetto, FL 34221 For Sale

RT
FL BK3015549
Marcus & Millichap - Orlando
DV
FL SL3294062
Marcus & Millichap - Orlando
CB
FL: SL3258770
Marcus & Millichap - Orlando
Listed by Marcus & Millichap - Orlando
$2,950,000
4 days on market
Updated 4 days ago

Jumbo RV & Boat Storage

Details
APN 2648300309
Property Type Self Storage
Sub Type Rv, Boat
Square Footage 19,500
Units 26
Cap Rate 5.77%
NOI $170,112
Occupancy 100%
Price per SqFt $151
Class A
Year Built 2017
Buildings 2
Stories 1
Acreage 1.320
Investment Type Value Add
Ownership Fee Simple

RV & Boat Storage | 26 Units | 100% Occupied | Below Market Rents

Marketing description

Jumbo RV & Boat Storage at 1158 8th Ave W, Palmetto, FL 34221 offers a rare opportunity to acquire a high-performing, purpose-built RV and boat storage asset in one of Florida’s fastest-growing Gulf Coast markets. Built in 2017, this 19,500 SF facility sits on 1.32 acres and features 26 fully enclosed, hurricane-rated units, each measuring 15’ x 50’ with 12’ x 14’ roll-up doors, 30-amp RV plug service, remote wireless openers, and individually addressed units. The property is 100% occupied with a six-month waiting list, delivering immediate cash flow with minimal maintenance requirements. Current rents are reportedly about 35% below market, creating compelling upside for new ownership. Additional features include integrated electronic power submeters, keypad entry, 24-hour access, security cameras, fire sprinklers, smoke and CO2 detectors, a dump station, and wide driveway access with three entrances. Strategically located just one mile from the Palmetto Boat Ramp and near I-75, I-275, and South Tamiami Trail, the asset benefits from strong regional access, nearby national retailers, and major residential growth throughout Manatee County. A standout niche investment with stable occupancy and future rent growth potential.

Investment highlights

19,500 SF RV & Boat Storage Facility | 100% Occupied with a Six-Month Waiting List | Asset Requires Very Little Maintenance

Subject Property Features 26 Fully-Enclosed RV & Boat Storage Units | See Page 7 for a List of Full Services

Significant Upside Through Below Market Rents | Currently 35% Below Market on Average

Developer Individually Addressed Units to Allow Future Condominium Conversion; USPS Approved Mailboxes Provided

E-Mon D-Mon Internet & Rent Roll Integrated Electronic Power Submeters Installed

Situated on 1.32 Acres Adjacent to Dollar Tree, UPS Store, Pizza Hut, and Take 5 Oil Change

Tenant’s That Store Their RV’s and Boats at Jumbo Storage Derive From Manatee County and Pinellas County

Located 1 Mile From South Tamiami Trail | 62,000 AADT

Surrounded by Numerous National Tenants Including; Publix, Wal-Mart Supercenter, Winn Dixie, ALDI, CVS, Etc.

New Developments Nearby; Creekside Commons (285,000 SF Shopping Center) North River Ranch (2,600 Acre Mixed Use with 6,000 Single Family Homes, Townhomes, Villas & Apartments) and Esplanade at Artisan Lakes (Resort-Lifestyle Community in Palmetto, FL).

Population Over 150,000 Within a Five-Mile Radius

Florida is an Income Tax Free State

Listing Contacts

RT
FL BK3015549
Marcus & Millichap - Orlando
DV
FL SL3294062
Marcus & Millichap - Orlando
CB
FL: SL3258770
Marcus & Millichap - Orlando
Listed by Marcus & Millichap - Orlando

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$170,112.00
$14,176.00/mo

Valuation Metrics

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DSCR
5.77%
Cap Rate
5.77%
ROI

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