investment highlights
- GROWING COASTAL STORAGE ASSET WITH DURABLE DEMAND // Long standing 1988 construction with 568 units across 62,850 NRSF (does not include 44 surface parking spaces), positioned within a mature, supply-constrained coastal market that supports stable, recurring demand from both residential and recreational users. Tenants in place for more than 12 months are averaging $1.60+ PSF, compared to approximately $0.95 PSF for the newer tenant base. The differential underscores meaningful embedded upside through standardizing rents and transitioning newer tenants toward market levels.
- DIVERSE UNIT MIX CAPTURING MULTIPLE DEMAND SEGMENTS // Balanced offering of climate controlled units, drive-up units, and dedicated boat/RV parking enables broad customer appeal and strong occupancy across seasonal, residential, and military-driven storage needs.
- STRATEGIC LOCATION WITH EXCEPTIONAL VISIBILITY // Prominent frontage along Jimmy Buffett Memorial Highway (±30,962 VPD) provides strong brand exposure and convenient access to Atlantic Beach, Neptune Beach, nearby marinas, and Naval Station Mayport.
- AFFLUENT, HIGH GROWTH TRADE AREA // The surrounding three-mile trade area includes approximately 42,765 residents and 20,233 households with average household incomes of roughly $140,807, supporting premium rental rates and long term revenue stability. The market is further bolstered by a robust development pipeline, with more than 50 residential and commercial projects in the pipeline representing over $1 billion in new construction—driving continued population growth, economic expansion, and sustained storage demand.
- FUNCTIONAL DESIGN AND OPERATIONAL EFFICIENCY // Single-story metal construction, wide concrete drive aisles, secure gated entry, and 24-hour surveillance create an efficient, low maintenance operating profile with strong customer convenience and reduced management burden.
property summary
CubeSmart Self Storage, located in Atlantic Beach, FL is a well-established self-storage and vehicle storage facility originally built in 1988 and situated on approximately 4.30 acres. The property comprises 568 total units totaling 62,850 net rentable square feet (does not include 44 surface parking spaces) and offers a diverse unit mix, including climate-controlled interior units, convenient drive-up access units, and dedicated outdoor parking for boats and RVs, catering to both residential and recreational storage demand.
The property is comprised primarily of single-story metal buildings with roll-up doors, supported by wide concrete driveways that provide convenient drive-up access throughout the site, and a dedicated on-site management office located at the front of the facility. Security and access control are further reinforced by perimeter fencing, secure gated entry, and 24-hour video surveillance. Collectively, the property’s functional design, scale, and established presence position it as a durable self-storage asset within a mature coastal market characterized by limited new supply.
The immediate trade area features little to no REIT presence and extremely limited new self-storage supply, directing the majority of unmet demand to this site and adjacent Fleet Landing, a highly successful senior living community backing up to the property. Fleet Landing completed a $105 million, 50-acre expansion, pre-sold 100 units upon announcement in 2018, and currently maintains a waitlist exceeding 400 families. Positioned along Jimmy Buffett Memorial Highway with approximately 30,962 vehicles per day, the property offers strong visibility and direct connectivity to Atlantic Beach, Neptune Beach, nearby marinas, and Naval Station Mayport. The surrounding three-mile trade area includes roughly 42,765 residents across 20,233 households with average incomes of approximately $140,807, reinforcing the site’s position as a premier storage destination within this supply-constrained coastal corridor.
