investment highlights
- EXCELLENT LOCATION // The facility is located on Dixie Highway in Boca Raton in a mixed-retail and commercial business corridor with over 12,000 cars passing per day. There are over 6,800 single-family homes within one mile of the property and it is within a quarter-mile of multiple office buildings and restaurants such as Pavilion Grill, Tucci’s Pizza, and The Melting Pot. Also nearby is a community recreational space, Sand Pine Park, that includes soccer fields, handball courts, and a children’s playground.
- U-HAUL REVENUE // The facility benefits from a large U-Haul revenue stream which has produced over $1.5M in gross revenue since the beginning of 2019. U-Haul business provides an opportunity to serve customers with storage.
- NO ONCOMING COMPETITION // There are no new facilities on the board within three miles of the facility. There is one facility with a planned expansion, Public Storage on Clint Moore Road, located 1.5 miles from subject property.
- DRIVE-UP CLIMATE CONTROLLED STORAGE // The facility offers 95 percent climate-controlled units, all on the ground floor for easy loading and unloading, ensuring a convenient storage experience.
- POTENTIAL REDEVELOPMENT OPPORTUNITY // Opportunity for next owner to redevelop the storage area into three four-story buildings erected in phases to increase storage capacity from 22,848 NRSF to roughly 65,000 NRSF. Project narrative, new proposed site plan, survey, artist rendering, and Boca Ordinance 5369 are all included in the data room.
property summary
Acorn Mini Storage is a 361-unit, 22,844 net rentable square foot self-storage facility located in Boca Raton, Florida. The property sits on around 2.13 acres of land, was initially constructed in 1976 and was expanded in 1979. It contains three self-storage buildings with 341 interior climate-controlled units and 18 non-climate-controlled drive-up units. The facility also includes two second floor office spaces for business tenants.
Acorn Mini Storage has many amenities including a large institutional style leasing office with retail and security monitor display with 24/7 video surveillance throughout. In addition, the facility has concrete driveways, and the interior consists of metal roll-up doors and traditional swing doors while the exterior drive-up units solely consist of traditional swing doors.
The facility is located on N Dixie Highway, just north of Yamato Road, and sees over 12,000 passing cars per day. The facility is in a mixed residential and commercial area, with over 6,800 single-family homes within one mile of the property and it is within a quarter-mile of multiple office buildings and restaurants such as Pavilion Grille, Tucci’s Pizza, and The Melting Pot. Also within a quarter-mile is a community recreational space called Sand Pine Park with soccer fields, handball courts, and a children’s playground. Boca Raton is a middle-class neighborhood with strong storage fundamentals and average household incomes exceeding $119,000 a year.
