Description

THIS IS THE PERFECT PLACE FOR AN RV STORAGE OR SELF STORAGE DEVELOPMENT DIRECTLY ADJACENT TO THE VILLAGES MASSIVE RETIREMENT COMMUNITY AND THE HAMMOCK OAKS DEVELOPMENT ON 466 AND CHERRY LAKE ROAD WHERE THE NEIGHBORHOOD WAL MART IS BEING BUILT. PRIME FOR DEVELOMENT AT A GREAT PRICE PER ACRE. This 10-acre parcel of vacant land represents a prime opportunity for development, offering an exceptional price per acre. Situated in a promising area poised for growth, this expansive property provides the perfect canvas for a variety of development possibilities. Whether you're envisioning a residential community, commercial enterprise, or a mixed-use project, the spaciousness and strategic location of this land can accommodate your plans. Additionally, the favorable price point enhances the investment potential, making it an attractive option for developers looking to capitalize on emerging market trends. With the right vision and planning, this land could transform into a thriving development, offering long-term value and success. Market Context & Rent Assumptions Average rent per unit in Fruitland Park is around $120/month, across a mix of sizes and climate-controlled options . Climate-controlled units average about $136/month, while non-climate looks closer to $130/month . Specialty vehicle/RV/boat storage units average $95-$99/month . Facility Specs & Revenue Scenarios Rentable Area Potential A comparable market asset in Fruitland Park spans ~60,880 rentable sqft on 10 acres, depending on layout and building coverage, a similar size is feasible. Unit Mix Example Non climate units: 45,000 sqft Climate controlled units: 10,00 0sqft Vehicle/RV/boat storage: 5,000 sq ft Monthly Gross Income Estimate Non climate units: 45,000?sq?ft à? ($130 / tenant? better convert by unit) Let's approximate units: an average unit 100 sqft 450 units à? $130 = $58,500/month Climate controlled: 100 units à? $136 = $13,600/month Vehicle/RV/boat spots (50 spots) à? $95 = $4,750/month Total estimated monthly gross $76,850 Annual gross revenue Ë? $922,200 Revenue Ranges Depending on density and enhancements: