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1920 Sherman Ave - Auction - Gulf Coast Self Storage | 63 Units Immeuble de 9 600 pi² • Spécialité • À vendre 106 208 $ CAD • Panama City, FL 32405
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Faits saillants de l'investissement
- STARTING BID $75,000 | Gulf Coast Self Storage | Florida Panhandle Value-Add | 63 Drive-Up Units | AUCTION AUGUST 3-5
- 66.67% physical occupancy with value-add occupancy upside | In-place cash flow with demonstrated lease-up runway and traction
- 5,293 VPD Traffic Count visibility and easy drive-up unit access.
- 8,750 NRSF self-storage facility with 63 non-climate-controlled drive-up units in Panama City, Florida.
- Convenient in-town location approximately 2.5 miles northeast of Downtown Panama City and minutes from Tyndall Air Force Base.
- Secure storage infrastructure including gated/keypad entry, chain-link fencing with barbed wire, surveillance cameras, and metal-roof storage building
Résumé de l'annonce
Marcus & Millichap is pleased to offer the fee simple interest in Gulf Coast Self Storage located at 1920 Sherman Avenue in Panama City, Florida (the “Property”). The Property consists of 8,750 net rentable square feet across 63 non-climate-controlled drive-up units on a 0.71-acre site, with gated access, surveillance cameras, and strong visibility along Sherman Avenue. Current occupancy is below stabilized levels, creating a clear value-add opportunity through lease-up, revenue management, and operational improvement. The property is currently operating at ±66.67% physical occupancy and generates in-place cash flow, offering a clear lease-up and revenue growth story for an operator focused on driving occupancy and optimizing rents. With below-market rate positioning relative to competitors and modern security features, the asset is positioned for continued stabilization in a growing Panama City market.
Panama City, Florida is a growing Gulf Coast submarket in Bay County that offers self-storage investors exposure to multiple demand drivers, including population growth, tourism, military employment, and ongoing economic expansion. The Panama City–Panama City Beach metro was reported as one of the nation’s fastest-growing metros in 2024, while the Tyndall Air Force Base rebuild and broader Bay County business growth continue to add long-term momentum to the market. The Property benefits from strong frontage exposure and ±5,293 VPD. For self-storage investors, that combination of permanent population growth, seasonal visitation, and business activity supports the appeal of Panama City as a coastal Florida market with expanding storage demand and continued commercial investment. The Property benefits from dense and compelling demographics with a population draw of ±38,996 residents within a 3-mile radius and an average household income of ±$77,103. The population has experienced 2.39% growth from 2020-205 with 10.98% growth expected to continue through 2030.
Panama City, Florida is a growing Gulf Coast submarket in Bay County that offers self-storage investors exposure to multiple demand drivers, including population growth, tourism, military employment, and ongoing economic expansion. The Panama City–Panama City Beach metro was reported as one of the nation’s fastest-growing metros in 2024, while the Tyndall Air Force Base rebuild and broader Bay County business growth continue to add long-term momentum to the market. The Property benefits from strong frontage exposure and ±5,293 VPD. For self-storage investors, that combination of permanent population growth, seasonal visitation, and business activity supports the appeal of Panama City as a coastal Florida market with expanding storage demand and continued commercial investment. The Property benefits from dense and compelling demographics with a population draw of ±38,996 residents within a 3-mile radius and an average household income of ±$77,103. The population has experienced 2.39% growth from 2020-205 with 10.98% growth expected to continue through 2030.
Faits sur la propriété
| Prix | 106 208 $ CAD | Taille du lot | 0,71 AC |
| Prix par pi² | 12,14 $ CAD | Taille du bâtiment | 8 750 pi² |
| Type de vente | Investissement | Nombre d’étages | 1 |
| Type de propriété | Spécialité | Année de construction | 1987 |
| Sous-type de propriété | Entreposage libre-service | Ratio de stationnement | 0,34/1 000 pi² |
| Classe d’immeuble | C | ||
| Zonage | C-3A | ||
| Prix | 106 208 $ CAD |
| Prix par pi² | 12,14 $ CAD |
| Type de vente | Investissement |
| Type de propriété | Spécialité |
| Sous-type de propriété | Entreposage libre-service |
| Classe d’immeuble | C |
| Taille du lot | 0,71 AC |
| Taille du bâtiment | 8 750 pi² |
| Nombre d’étages | 1 |
| Année de construction | 1987 |
| Ratio de stationnement | 0,34/1 000 pi² |
| Zonage | C-3A |
1 1
Relativement accessible à pied
30/100
Exceptionnellement adapté aux voitures
100/100
Transports en commun très limités
10/100
Relativement accessible en vélo
30/100
Impôts fonciers
| Numéro de lot | 14627-040-000 | Évaluation des bâtiments | 177 147 $ CAD |
| Évaluation du terrain | 94 160 $ CAD | Évaluation totale | 271 307 $ CAD |
Impôts fonciers
Numéro de lot
14627-040-000
Évaluation du terrain
94 160 $ CAD
Évaluation des bâtiments
177 147 $ CAD
Évaluation totale
271 307 $ CAD
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1920 Sherman Ave - Auction - Gulf Coast Self Storage | 63 Units
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