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Broker Contact Info
Meir Perlmuter
614.360.9813
Meir.Perlmuter@marcusmillichap.com
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The Hatcher Group of Marcus & Millichap is pleased to exclusively offer for sale Condev Self Storage located in Orlando, Florida. The facility is currently under construction and is expected to be completed in January of 2022. The facility will consist of 469 climate-controlled units totaling 53,945 net rentable square feet.
The location of this facility benefits from a dense and growing surrounding population. The population within five miles of the facility is 273,298, which represents a 13% increase since 2000 and is expected to continue to grow over the next five years. The facility is located in a re-developing, densely populated area of Orlando known as College Park, just four miles north of downtown. In addition to College Park, the facility will also serve the residents and businesses of western Winter Park. This is a high barrier to entry, lakefront, infill location. They are also less than four miles from University of Central Florida. They are located off a busy street and are surrounded by lots of residential neighborhoods, as well as, restaurants, retail stores, and schools. This offers the facility great street frontage and high daily traffic counts of around 24,500 cars per day off Edgewater Drive.
Condev Self Storage is being offered for $12,500,000 or $231.72 per rentable square foot.
Population
In 2021, the population in your selected geography is 274,360. The population has changed by 13.9 percent since 2000. It is estimated that the population in your area will be 284,311 five years from now, which represents a change of 3.6 percent from the current year. The current population is 48.2 percent male and 51.8 percent female. The median age of the population in your area is 37.9, compared with the U.S. average, which is 38.4. The population density in your area is 3,497 people per square mile.
Households
There are currently 116,077 households in your selected geography. The number of households has changed by 19.1 percent since 2000. It is estimated that the number of households in your area will be 121,661 five years from now, which represents a change of 4.8 percent from the current year. The average household size in your area is 2.3 people.
Income
In 2021, the median household income for your selected geography is $54,455, compared with the U.S. average, which is currently $65,694. The median household income for your area has changed by 41.1 percent since 2000. It is estimated that the median household income in your area will be $58,740 five years from now, which represents a change of 7.9 percent from the current year.
The current year per capita income in your area is $36,272, compared with the U.S. average, which is $36,445. The current year’s average household income in your area is $85,008, compared with the U.S. average, which is $94,822.
Employment
In 2021, 154,340 people in your selected area were employed. The 2000 Census revealed that 65.4 percent of employees are in white-collar occupations in this geography, and 34.6 percent are in blue-collar occupations. In 2021, unemployment in this area was 8.0 percent. In 2000, the average time traveled to work was 22.3 minutes.
Housing
The median housing value in your area was $260,457 in 2021, compared with the U.S. median of $227,827. In 2000, there were 54,430 owner-occupied housing units and 43,009 renter-occupied housing units in your area. The median rent at the time was $556.
Education
The selected area in 2021 had a higher level of educational attainment when compared with the U.S averages. 13.5 percent of the selected area’s residents had earned a graduate degree compared with the national average of only 12.0 percent, and 23.2 percent completed a bachelor’s degree, compared with the national average of 19.5 percent.
The number of area residents with an associate degree was higher than the nation’s at 10.2 percent vs. 8.3 percent, respectively.
The area had fewer high-school graduates, 24.5 percent vs. 27.2 percent for the nation. The percentage of residents who completed some college is also lower than the average for the nation, at 17.7 percent in the selected area compared with the 20.5 percent in the U.S.
■ Orlando, FL MSA Self Storage Offering
■ New Construction: Facility Will be Completed in January of 2022
■ 53,945 Net Rentable Square Feet
■ 469 Climate Controlled Units
■ High Barrier to Entry Market
■ High Daily Traffic Counts: 24,500 Cars/Day off Edgewater Drive
■ Dense & Growing Population: 273,298 People Living Within a Five-Mile Radius; 83,998 People Living Within a Three-Mile Radius
