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Etude Storage Partners Acquires Self Storage Facility In Pembroke Pines For $17.86M

Property Image
SOLD
$17,860,000

Florida

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Self Storage111,023 SF
Sold
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Property Image
SOLD

Etude Storage Partners Acquires Self Storage Facility In Pembroke Pines For $17.86M

8321 Pines Boulevard

See Similar Deals
Self Storage111,023 SF
Sold
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Self Storage
Price Per Square Foot:$160
Total Square Footage:111023 SF
Transaction Type:Sale

The self-storage facility located at 8321 Pines Boulevard in Pembroke Pines comprises 111,023 square feet and spans 4.75 acres. It was sold for $17,860,000, reflecting a price per square foot of $161.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $17,860,000
  • Buyer: Etude Storage Partners
  • Seller: Christopher S. Moore - CSM Capital Corporation; Ryan Hanks - Go Store It Self Storage
  • Lender: Goldman Sachs
  • Sale Date: 11/25/2025
  • Previous Sale Price: $12,980,000
  • Increase in Sale Price: 38%

Goldman Sachs provided a mortgage of $29,250,000 that covered this transaction along with another property, indicating substantial demand for self-storage in South Florida, characterized by low vacancy rates and escalating rents.

Players

Christopher S. Moore
Christopher S. Moore
1 deal$17.9M volume
BROKER
Go Store It Self Storage
Go Store It Self Storage
SELLER
Christopher S. Moore
CSM Capital Corporation
Christopher S. Moore
1 deal$17.9M volume
SELLER
Goldman Sachs
Goldman Sachs
LENDER

Details

SOLD
IMAGE: Ryan Hanks & Christopher S. Moore DATE: 11/25/2025 ADDRESS: 8321 Pines Boulevard MARKET: Pembroke Pines ASSET TYPE: Self Storage ~ ACRES: 4.75 BUYER: Etude Storage Partners SELLER: Christopher S. Moore - CSM Capital Corporation; Ryan Hanks - Go Store It Self Storage (@GoStoreItOfficial) LENDER: Goldman Sachs (@GoldmanSachs) SALE PRICE: $17,860,000 SF: 111,023 ~ PPSF: $161 NOTE: Snapbox, a 111,023-square-foot self-storage facility in Pembroke Pines, sold for $17.86M to Etude Storage Partners’ ESP Holdco IV-FNW LLC, up nearly 38% from its 2019 sale for $12.98M.Goldman Sachs provided a $29.25M mortgage covering this and another property, reflecting strong South Florida self-storage demand amid low vacancy and rising rents.

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

$952,533.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,452.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$84,665.51
Annual Debt Service$1,015,986.14