Warehouse For sale in Venice
Description
The Venice Warehouse & Self-Storage Complex is a fully renovated property featuring seven buildings, offering a total of 53,590 square feet and 150 leasable spaces.
Currently 97% occupied with a 7.75% return. Extensive upgrades have been completed, including new roofs with steel beam replacements, fresh exterior painting, and the installation of modern LED lighting throughout the complex.
The property also boasts a newly constructed on-site manager/maintenance office, equipped with touchscreen technology and integrated property management software for efficient operations.
Additional enhancements include renovated bathrooms, updated electrical systems, and various other maintenance improvements to ensure the property meets modern standards.
Located near the Island of Venice, Legacy Trail, and directly across from City of Venice Park, this facility offers excellent accessibility and visibility.
New owners can further enhance the property’s value by filling vacancies and optimizing operations.
This renovated self-storage and small bay warehouse facility offers significant upside potential, making it a prime investment opportunity in a highly sought-after location.
Overview
- Property ID 13467
- Price $8,950,000.00
- Property Type Industrial, Warehouse
- Property status Sale
- Year Built 1983
- Size 53,590 SqFt
- Land area 96,000 SqFt
- Class B
- Lease Type Modified
- Tenancy Multi
- Square Footage 53,590
- Net Rentable (sq ft) 53,590
- Price/Sq Ft $167.01
- Cap Rate 7.75%
- Occupancy 97%
- NOI $693,427
- Units 150
- Year Renovated 2024
- Buildings 7
- Stories 1
- Lot Size (sq ft) 96,000
- Rent Bumps Yes
