Extra Space Storage (Managed) – Fowler Avenue

Property Title

9343 E Fowler Ave
Tampa, FL 33592

investment highlights

  • Optimal Unit Mix | Climate Controlled, Outdoor Drive Up, Covered RV, and Parking
  • Strong Lease Up Trend of 3.62% Per Month Since Opening
  • Under Supplied Market of 4.19 Square Foot Per Capita
  • Currently One Competitor Within the Three Mile Trade Area
  • Superior 2017 Construction
  • Rapidly Growing Trade Area Next to One of the Countries Largest Universities
  • Excellent Visibility at Fowler Road | 17,000 Cars Per Day
  • Large Lot | 5.95 Acres

property summary

Extra Space Storage (Managed) is a 83,270 (excluding covered RV and outdoor parking) net rentable square foot facility located in northeast Tampa, Florida. Built in 2017, the property currently consists of 713 units that range in size from 5×4 to 10×30 with 18 covered recreational parking spaces and nine uncovered recreational parking spaces. The facility features four buildings that are of concrete construction. Situated on approximately six acres of land, covered loading bay, fully fenced with multiple gate access and is under 24-hour video surveillance, as well as, security access to individual floors.

The facility is located near the corner of East Fowler Avenue and Walker Road. East Fowler Avenue is a divided highway with two lanes going east direction and is just east of Interstate 75.  Entry to the facility is off of East Fowler Avenue only, however, there are turning capabilities within a block of the site in each direction. The Fowler City Planner reports there is a new commercial/office development going up immediately across the highway. Also slated for construction in close proximity, there is also a 292 unit apartment complex that has just started the rezoning process and will complete the rezoning process within five months.

Demographics show this site is situated in a desirable urban area with a good economic base.  Current population is approximately 42,050 and is projected to grow by six percent within the next five years. Of the approximate 17,899 households, 52.5 percent are occupied by renters.  There are seven colleges and universities in the area which offers an additional large potential tenant base. The University of South Florida (USF), being the closest to the Extra Space Storage (Managed) location, is a rapidly rising University with over 50,000 students. Achievements in the medical and energy fields draw students from across the nation. USF is the 7th leading patent holding University in the U.S. and the top producer of Fulbright Scholars. USF Health Morsani College of Medicine and Heart Institute officially opened on January 8, 2020 after nearly five years of construction. Traffic counts by the property are approximately 17,000 per day and all have clear visibility of the facility.

Broker Information

Charles "Chico" LeClaire

Executive Managing Director

Phone: 303.328.2025
Email: cleclaire@marcusmillichap.com
License: CO EA00147681

Adam Schlosser

Senior Vice President

Phone: 303.328.2044
Email: aschlosser@marcusmillichap.com
License: CO FA100050407

Ryan Nee

Broker of Record

Phone: 954.245.3450
Email: ryan.nee@marcusmillichap.com
License: BK3154667

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