Arcadia, FL
$1,950,000
Self-Storage development site on 4.42+/- acres in the centrally located city of Arcadia, Florida. Arcadia is ‘THE’ SW hub connecting Punta Gorda, Fort Myers, Lakeland, and Port Charlotte as well as Sarasota and Bradenton. These surrounding cities are undergoing rapid growth and development expanding towards the market area. The site has 600’ of frontage on a busy corridor of Highway 17 with over 18,200 cars per day.
Arcadia is a significantly under served market with a SF per capita of 1.17 within 3 miles and 3.09 within 5 miles. The competition is primarily a single, local operator who has 5 small facilities scattered around Arcadia. The newest one is 35 years old and only 6% is climate controlled, operating at 100% full with a waiting list, representing a gross shortage of climate-controlled storage in the market.
The proposed facility consists of 3 single-story buildings totaling 71,749 GSF of storage including 33,325 RSF of interior access climate-controlled storage, 23,050 RSF of exterior access (drive up) climate-controlled storage and 2,600 RSF of drive up, non-climate-controlled storage. The site has sidewalk, curb and gutter, full utility access and a commercial sized curb cut, apron and culvert in place. The land is ¾ cleared and mowed with no wetland or flood zone and a desirable building soil (Smyrna sand). Additionally, this site qualifies as an Opportunity Zone with tax deferrals/benefits as well as a REAP Grant eligible providing funding for solar energy if desired.
