4 Storage Properties + 2.5 Acres of Land
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4 Storage Properties + 2.5 Acres of Land
5 Properties Offered at $3,550,000 in Eastpoint, FL
Investment Highlights
- Net operating income (NOI) of $218,396
- High demand, competitive pricing, and secure location.
- The site is secured with perimeter fencing & gated entry for enhanced safety.
- Robust cash flow offers an investor a strong Cap Rate return | CAP RATE RETURN: 7.28%
- Upside potential: Upside through standardizing rents / raising rents to market
- Properties fall within an Opportunity Zone, offering potential tax advantages.
Executive Summary
**Properties fall within an Opportunity Zone, offering potential tax advantages.**
Investment Opportunity Overview
This offering includes two recreational storage properties in downtown Eastpoint, Florida, delivering a net operating income (NOI) of $218,396 and a cap rate of 7.28%. Located within an Opportunity Zone, this parcel provides significant tax advantages based on the duration of the investment.
Additionally, included in the offering is 2.5 acres of undeveloped land, enhancing the investment’s potential for future development or expansion.
132/142 E 98 + 148 Highway 98 could be sold separately for $2,400,000
Property Details
Recreational Storage One (24 & 32 Island Drive):
• Enclosed Storage: 10,440 sq. ft.
• 16 enclosed units:
• 7 units (2016): 18x40 ft with walk-in doors.
• 9 units (2024): 15x40 ft, 14 ft height, roll-up doors.
• Lot Size: 1.30 acres.
Recreational Storage Two (132 & 142 Highway 98):
• Enclosed Storage: 9,600 sq. ft.
• Covered Storage: 18,720 sq. ft.
• 15 enclosed units (16x40 ft, 14 ft height, roll-up doors).
• Lot Size: 2.5 acres.
Income & Occupancy
• 67 total units:
• 31 enclosed units (70% rented at $450/month; remaining at $400/month).
• 36 covered units rented at $175/month.
• Fully occupied, providing a reliable income stream.
This opportunity is ideal for investors seeking stable income, long-term tax benefits, and a property with room for future growth.
Investment Opportunity Overview
This offering includes two recreational storage properties in downtown Eastpoint, Florida, delivering a net operating income (NOI) of $218,396 and a cap rate of 7.28%. Located within an Opportunity Zone, this parcel provides significant tax advantages based on the duration of the investment.
Additionally, included in the offering is 2.5 acres of undeveloped land, enhancing the investment’s potential for future development or expansion.
132/142 E 98 + 148 Highway 98 could be sold separately for $2,400,000
Property Details
Recreational Storage One (24 & 32 Island Drive):
• Enclosed Storage: 10,440 sq. ft.
• 16 enclosed units:
• 7 units (2016): 18x40 ft with walk-in doors.
• 9 units (2024): 15x40 ft, 14 ft height, roll-up doors.
• Lot Size: 1.30 acres.
Recreational Storage Two (132 & 142 Highway 98):
• Enclosed Storage: 9,600 sq. ft.
• Covered Storage: 18,720 sq. ft.
• 15 enclosed units (16x40 ft, 14 ft height, roll-up doors).
• Lot Size: 2.5 acres.
Income & Occupancy
• 67 total units:
• 31 enclosed units (70% rented at $450/month; remaining at $400/month).
• 36 covered units rented at $175/month.
• Fully occupied, providing a reliable income stream.
This opportunity is ideal for investors seeking stable income, long-term tax benefits, and a property with room for future growth.
Data Room Click Here to Access
- Offering Memorandum
Taxes & Operating Expenses (Actual - 2024) |
Annual |
|---|---|
| Gross Rental Income |
$231,000
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$231,000
|
| Taxes |
$11,404
|
| Operating Expenses |
$1,200
|
| Total Expenses |
$12,604
|
| Net Operating Income |
$218,396
|
Taxes & Operating Expenses (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $231,000 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $231,000 |
| Taxes | |
|---|---|
| Annual | $11,404 |
| Operating Expenses | |
|---|---|
| Annual | $1,200 |
| Total Expenses | |
|---|---|
| Annual | $12,604 |
| Net Operating Income | |
|---|---|
| Annual | $218,396 |
Property Facts
| Price | $3,550,000 | Number of Properties | 5 |
| Price / SF | $91.59 / SF | Individually For Sale | 0 |
| Sale Conditions | Total Building Size | 38,760 SF | |
| Sale Type | Investment | Total Land Area | 3.98 AC |
| Status | Active |
| Price | $3,550,000 |
| Price / SF | $91.59 / SF |
| Sale Conditions | |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 38,760 SF |
| Total Land Area | 3.98 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Eastpoint Opportunity Zone 2.5 acres
148 Highway 98, Eastpoint, FL 32328 |
Land | 2.50 AC | - | - |
| 32 Island Dr, Eastpoint, FL 32328 | Specialty | 5,220 SF | 2023 | - |
| 132 E 98 Hwy, Eastpoint, FL 32328 | Specialty | 9,600 SF | 2023 | - |
| 142 E 98 Hwy, Eastpoint, FL 32328 | Specialty | 18,720 SF | 2023 | - |
| 24 Island Dr, Eastpoint, FL 32328 | Specialty | 5,220 SF | 2016 | - |
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4 Storage Properties + 2.5 Acres of Land
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