Coconut Creek
5351 Wiles Rd , Coconut Creek, FL, 33073
Details
Acquisition Date: Dec-2020
Projected Sale Price: U$ 17,668,999
Projected Total IRR: 24.40%
Summary

Located ' along" a major thoroughfare with numerous nearby employers and lifestyle amenities the property is well suited for easy access to nearby residents and employees. Modern unit finishes, lack of competitive supply and its desirable location position Coconut Creek Self Storage for strong lease up and strong rent growth. Strong development metrics for this site include:

- The Population within 2 miles is 61,719 and is expected increase to 71,803 within 5 years.

- Median household income within 2-mile radius is at $82,240.

- High Barriers to entry: unappealable site plan approval for self storage. No available sites in this area.

- Ideal Unit Mix considering high demand for Climate Controlled units.

- Average supply of Self Storage SF Per person in US is 10 in the subject area it is 3.76 indicating strong pent up demand.

- Operator: Cube-smart

Location

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