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25 E Lester Rd Apopka, FL 3...

Marcus & Millichap Sells Apopka Self Storage For $13M
SOLDSelf Storage

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

Gabriel Coe

Marcus & Millichap

Broker

$67.2M

vol

9 deals

Broker

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