Marcus & Millichap Sells Gadsden Mini Storage Portfolio In Quincy For $10.1M
105 N Cleveland St, Quincy, Fl 32351
$10,135,000
$105/SF
Building Size
95,800 SF
Asset Type
Self Storage
Closing
Jul 25, 2023
AI
The Gadsden Mini Storage Portfolio in Quincy was recently sold for $10,135,000. The portfolio consists of four properties located at 105 North Cleveland Street, 1313 West Washington Street, 2161 West Jefferson Street, and 635 South Virginia Street. These properties span across 9.56 acres and offer a total of 95,800 square feet of self-storage space. The sale reflects a price per square foot of $106, indicating a strong interest from storage investors in the Florida market.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $10,135,000
- Market: Quincy
- Address: 105 North Cleveland Street, 1313 West Washington Street, 2161 West Jefferson Street & 635 South Virginia Street
- Acres: 9.56
The sale of the Gadsden Mini Storage Portfolio was facilitated by Hunter Robey and Chris Travis from Marcus & Millichap. Their expertise in the market and strong representation contributed to multiple offers being received at the list price. This transaction showcases the continued interest from storage investors in the Florida market.
Players
Miami Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.57%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93