SOLDSelf Storage
Kirk Johanson Purchases Self Storage Asset In Vero Beach From Zack Widmann For $1.9M
4870 20th Street
$1,900,000
$109/SF
Building Size
17,390 SF
Asset Type
Self Storage
Closing
Jul 30, 2026
AI
The transaction involved the sale of a self-storage facility located at 4870 20th Street in Vero Beach. The asset sold for $1,900,000, encompassing 17,390 square feet, resulting in a price per square foot of $109.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $1,900,000
- Address: 4870 20th Street
- Market: Vero Beach
- Square Footage: 17,390
- Price per Square Foot: $109
- Buyer: Kirk Johanson
- Seller: Zack Widmann
- Seller's Representatives: David Perlleshi, Frank DeSalvo - Franklin Street; Michael Mele, Luke Elliott - Cushman & Wakefield
This transaction was facilitated through the collaboration of multiple representatives, emphasizing the importance of teamwork. The successful navigation of a contract cancellation and the swift acquisition of a backup buyer contributed significantly to closing the deal. The opportunity arose from a referral, demonstrating the effectiveness of ongoing partnerships in real estate transactions.
Players
Vero Beach 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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93