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Marcus & Millichap Sells Gadsden Mini Storage Portfolio In Quincy For $10.1M

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SOLD
$10,135,000

Florida

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Self Storage95,800 SF
Sold 07/25/2023
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SOLD

Marcus & Millichap Sells Gadsden Mini Storage Portfolio In Quincy For $10.1M

105 N Cleveland St, Quincy, Fl 32351

See Similar Deals
Self Storage95,800 SF
Sold 07/25/2023
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Summary

FLORIDA
Asset Type:Self Storage
Price Per Square Foot:$105
Total Square Footage:95,800 SF
Transaction Type:Sale

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

Christopher (Chris) Travis
5 deals$26.1M volume(407) 924-1408
BROKER

Hunter Robey
Marcus & Millichap
3 deals$22.6M volume
BROKER

Details

SOLD
IMAGE: Hunter Robey & Chris Travis DATE: 07/25/2023 ADDRESS: 105 North Cleveland Street, 1313 West Washington Street, 2161 West Jefferson Street & 635 South Virginia Street MARKET: Quincy ASSET TYPE: Self Storage ~ ACRES: 9.56 BROKERS: Hunter Robey & Chris Travis - Marcus & Millichap SALE PRICE: $10,135,000 SF: 95,800 ~ PPSF: $106 NOTE: Marcus & Millichap sold the Gadsden Mini Storage Portfolio in Tallahassee MSA for $10.1 million, with multiple offers received at list price, reflecting continued strong interest from storage investors in the Florida market.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$36,007.52
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