Marcus & Millichap Sells Apopka Self Storage For $13M
25 E Lester Rd Apopka, FL 32712, USA
$13,000,000
$191/SF
Building Size
67,850 SF
Asset Type
Self Storage
Closing
Jun 29, 2023
AI
Marcus & Millichap has sold Apopka Self Storage, a newly developed 67,850-square-foot facility located at 25 East Lester Road in Apopka, Florida. The property was sold for $13 million in a closed transaction. This self-storage asset features climate-controlled units and is expected to quickly lease up in the growing self-storage market of the area.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $13,000,000
- Units: 729
- Price per Unit: $17,833
- Square Footage: 67,850
- Price per Square Foot: $192
- Market: Apopka
The sale of Apopka Self Storage was facilitated by Nathan Coe, Brett R. Hatcher, Gabriel Coe, and Salim Valiani of Marcus & Millichap.
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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93