Grandstone Investment Sales is pleased to present Town Center Storage, a newly built, dual-location self-storage facility in Newberry, Florida—just 15 miles from downtown Gainesville. The offering includes two sites totaling 32,450 net rentable square feet, comprised of 264 climate-controlled units, 44 non-climate units, and 2 retail suites. The facility is currently in early lease-up with physical occupancy at 49.2% and economic occupancy at 45.9%. Positioned along State Road 45, the asset benefits from 6,000 vehicles per day and sits within a strong growth corridor. Population within the 1-, 3-, and 5-mile radii is projected to increase by over 10% in the next five years. Additionally, the area features a high median household income (over $90,000 across all radii) and low renter occupancy at 12% within 1 mile, indicating a strong base of stable, long-term residents.
INVESTMENT
HIGHLIGHTS
- Purchase Price $4,900,000
- Newberry, FL – two locations off SW State Rd 45 and NW 244th Dr
- 32,450 NRSF | 310 Total Units | 2 Retail Suites | 2.68 Acres
- Lease-Up Opportunity: Currently 49.2% physically occupied with year 5 cap rate projected at 8.91%.
- All climate and non-climate mix: 264 climate-controlled units, 44 non-climate units, and 2 income-generating retail suites.
- Rapidly Growing Market: Projected population growth of 10%+ across 1-, 3-, and 5-mile radii within 5 years.
- Affluent Demographics: Median household income exceeds $90,000 across all surrounding radii.
- High Visibility Corridor: Located on a main thoroughfare with 6,000+ vehicles per day and no new self-storage projects within a 1-mile radius.
