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Joseph D. Russell, Jr Of Public Storage Acquires Self Storage Asset In Winter Haven For $10.2M

Property Image
SOLD
$10,200,000
Nathan Coe
Gabriel Coe
Brett Hatcher
+ 1

Florida

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Joseph D. Russell, Jr Of Public Storage Acquires Self Storage Asset In Winter Haven For $10.2M

4750 Lucerne Park Road

See Similar Deals
Self Storage83,000 SF
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Nathan Coe
Gabriel Coe
Brett Hatcher
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Summary

FLORIDA
Asset Type:Self Storage
Price Per Square Foot:$122
Total Square Footage:83000 SF
Transaction Type:Sale

The property involved in this transaction is a self-storage facility located at 4750 Lucerne Park Road in the Winter Haven market. The sale occurred on March 27, 2025, with a transaction amount of $10,200,000.00. The facility consists of 554 units and encompasses a total square footage of 83,000.0.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $10,200,000.00
  • Address: 4750 Lucerne Park Road
  • Market: Winter Haven
  • Units: 554
  • Square Footage: 83,000.0
  • Buyer: Joseph D. Russell, Jr - Public Storage

The transaction was facilitated by brokers George Kondracke, Nathan Coe, Gabriel Coe, and Brett Hatcher, all from Marcus & Millichap, representing the buyer in this deal.

Players

Gabriel Coe
Marcus & Millichap
Gabriel Coe
9 deals$67.2M volume
BROKER
Brett Hatcher
Marcus & Millichap
Brett Hatcher
9 deals$67.2M volume
BROKER
Nathan Coe
Marcus & Millichap
Nathan Coe
6 deals$67.2M volume
BROKER
George Kondracke
Marcus & Millichap
George Kondracke
1 deal$10.2M volume(614) 360-9808
BROKER
PS
Public Storage
BUYER

Details

SOLD
IMAGE: Nathan Coe, George Kondracke, Brett Hatcher, Joseph D. Russell, Jr & Gabriel Coe DATE: 03/27/2025 ADDRESS: 4750 Lucerne Park Road MARKET: Winter Haven ASSET TYPE: Self Storage ~ ACRES: 5.04 BUYER: Joseph D. Russell, Jr - Public Storage (@PublicStorage) BROKERS: Brett Hatcher, Gabriel Coe (@GabrielCoe18), Nathan Coe & George Kondracke (@GKondracke) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $10,200,000 UNITS: 554 ~ PPU: $18,412 SF: 83,000 ~ PPSF: $123 NOTE: Public Storage purchased a newly built 554-unit storage facility in Winter Haven for $10.2 million. The 83,000-square-foot property, listed by Marcus & Millichap, sits on 5.04 acres and includes 469 climate-controlled units.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$36,238.44
Cash-on-Cash Return-1.27%
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