204 Kelley Rd - Kelly Road Mini Storage
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204 Kelley Rd - Kelly Road Mini Storage
19,650 SF Specialty Building Offered at $762,232 CAD at a 6.95% Cap Rate in Valparaiso, FL 32580
Investment Highlights
- Value Add - only 75% occupied currently
- Leases at below market rates
Executive Summary
Value Add investment property in Central Okaloosa County, FL. Boasting a well-maintained 19,650 SF self storage complex boasting 196 units, this facility offers ample space for a thriving Self Storage business. Phase 1 built in 1998 and phase 2 built in 2005, the property is designed to meet the diverse needs of tenants. Zoned C-2 by the City of Niceville, this strategically located asset presents an ideal setting for an owner / investor seeking a robust and lucrative opportunity with tremendous upside. With its strategic location, this property is poised to deliver significant returns. Current rent roll is only at 75% occupied at what I believe are under market rent. This property is all non-climate controlled space.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$100,374
|
$5.11
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$100,374
|
$5.11
|
| Taxes |
$9,918
|
$0.50
|
| Operating Expenses |
$37,512
|
$1.91
|
| Total Expenses |
$47,430
|
$2.41
|
| Net Operating Income |
$52,944
|
$2.69
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $100,374 |
| Annual Per SF | $5.11 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $100,374 |
| Annual Per SF | $5.11 |
| Taxes (CAD) | |
|---|---|
| Annual | $9,918 |
| Annual Per SF | $0.50 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $37,512 |
| Annual Per SF | $1.91 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $47,430 |
| Annual Per SF | $2.41 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $52,944 |
| Annual Per SF | $2.69 |
Property Facts
| Price | $762,232 CAD | Building Class | C |
| Price Per SF | $39 CAD | Lot Size | 1.42 AC |
| Sale Type | Investment or Owner User | Building Size | 19,650 SF |
| Cap Rate | 6.95% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1998 |
| Property Subtype | Self-Storage | Parking Ratio | 0.15/1,000 SF |
| Price | $762,232 CAD |
| Price Per SF | $39 CAD |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.95% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 1.42 AC |
| Building Size | 19,650 SF |
| No. Stories | 1 |
| Year Built | 1998 |
| Parking Ratio | 0.15/1,000 SF |
Amenities
- Signage
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PROPERTY TAXES
| Parcel Number | 01-1S-23-0000-0048-0030 | Total Assessment | $970,285 CAD |
| Land Assessment | $223,840 CAD | Annual Taxes | $9,918 CAD ($0.50 CAD/SF) |
| Improvements Assessment | $746,445 CAD | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
01-1S-23-0000-0048-0030
Land Assessment
$223,840 CAD
Improvements Assessment
$746,445 CAD
Total Assessment
$970,285 CAD
Annual Taxes
$9,918 CAD ($0.50 CAD/SF)
Tax Year
2023
zoning
| Zoning Code | C-2 |
| C-2 |
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204 Kelley Rd - Kelly Road Mini Storage
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