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4870 20th Street

Kirk Johanson Purchases Self Storage Asset In Vero Beach From Zack Widmann For $1.9M
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:

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

Michael Mele

Cushman & Wakefield

Broker

$234.2M

vol

17 deals

Broker

Kirk Johanson

Buyer

$1.9M

vol

1 deal

Buyer

Zack Widmann

Seller

$351.9M

vol

2 deals

Seller

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