Marcus & Millichap’s Mele Storage Group Lists Prime Self-Storage Property in Retirement Hot Spot

From: Revelation Media Networks
Published: Sat Jan 06 2007

One of Florida’s most strategically located self-storage facilities is up for sale – and Marcus & Millichap’s Mele Storage Group has the exclusive listing. The 75,000-square-foot property, Lock & Key Self-Storage, is positioned within a half mile of Interstate 75 in one of Southwest Florida’s retirement hot spots.

Lock & Key Self-Storage boasts 625 units with a healthy 90 percent economic occupancy. The facility generates more than $64,000 of income each month from its prime location that offers over 780 feet of frontage on Kings Highway in Port Charlotte. Lock & Key sees 32,500 vehicles pass by each day on the way to nearby major retailers, like Wal-Mart, Publix and Walgreen’s.

"Lock & Key Self-Storage has everything going for it: a prime location, attractive occupancy rates, and room to grow its bottom line," said Michael A. Mele, senior investment associate at Marcus & Millichap’s Mele Storage Group in Tampa, Fla. "Port Charlotte is an area of Florida that is growing steadily, which opens the door to strong opportunities with Lock & Key."

Indeed, Port Charlotte has a population of about 50,000, with 75,000 people living and working within a five-mile radius of the facility. Money magazine named Port Charlotte among its list of "Best Places to Retire" in Florida, with its expansive shorelines, fine restaurants and boating and golfing options. The population is growing by double digits.

Lock & Key Self-Storage sits on 4.5 acres of land and offers modern amenities that include computerized gate access, drive-up and interior units, and digital surveillance technology. The Charlotte Sun Herald touted the recently completed climate-controlled area of the facility as "an attractive addition" to the community.

"The owners of Lock & Key Self-Storage once operated a thriving Penske dealership that generated over $50,000," said Mele, who is also president of the Florida Self Storage Association. "A new owner could rekindle that operation to generate ancillary income. The opportunity to generate additional revenues is real."

Lock & Key Self-Storage is listed at $7.65 million exclusively by Marcus & Millichap’s Mele Storage Group. For more information on the financial terms of the deal, contact the firm at 813.287.9777.

About The Mele Storage Group
Led by East Coast Self Storage Specialist Michael A. Mele, The Mele Storage Group has sold over 70 self-storage properties totaling over $266 million in sales. Mele has over $108 million in Active and Under Contract listings and a database of approximately 3,200 buyers seeking to expand their self-storage portfolios on the East Coast. Mele closed more than $86 million in self-storage sales in 2006 alone. Each member of the group is a specialist in the fields of financial analysis, market research, contract management and marketing.

About Marcus & Millichap
With more than 1,100 investment professionals in offices nationwide, Encino, Calif.-based Marcus & Millichap is the largest commercial real estate brokerage in the nation focusing exclusively on real estate investments. In 2005, the firm closed more than $21 billion in transactions. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization; local market expertise; the industry’s most comprehensive research and analysis capabilities; state-of-the-art technology; and established relationships with the largest pool of qualified investors nationally.

PR Contacts:

Self Storage Promotions
Jennifer LeClaire
1913 S. Ocean Drive, Suite 237
Hallandale Beach, Fla. 33009

Mele Storage Group
Darlina Conto
7650 Courtney Campbell Cswy., Suite 920
Tampa, FL 33607
813.287.9777, ext. 187
Company: Revelation Media Networks
Contact Name: Jennifer LeClaire
Contact Email:
Contact Phone: 954.454.0072

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