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5190 Ulmerton Rd, Clearwater, FL 30854 US Hwy 19 N, Palm Harbor, FL 17326 US-19, Hudson, FL 30772 US-19, Palm Harbor, FL 1930 N Pinellas Ave, Tarpon Springs, FL
United Self Mini Storage Portfolio Opportunity - Tampa Bay MSA
Asset ClassSelf Storage
# Sites4
Land: 20 AcresSquare Feet: 278,149# Units: 1,920Access Data Room
Tampa Bay MSA
overview of deal

Overview

The Cushman & Wakefield Self-Storage Advisory Group has been exclusively retained to offer for sale the United Mini Storage Portfolio, a four-property portfolio comprising 278,149 total square feet—229,030 SF of self-storage across 1,920 units and 49,119 SF of retail across eight in-place suites at the Palm Harbor location.

 

The portfolio includes Castle Keep Mini Storage in Hudson (78,430 SF; 554 units) and three facilities operating under the United Mini Storage brand across Pinellas County—Palm Harbor (62,522 SF of storage and 49,119 SF of retail at the Countryside Strip; 638 storage units and 8 retail suites), Tarpon Springs (39,325 SF; 350 units), and Clearwater (48,753 SF; 378 units). All four properties are owner-operated under the TL Hunt Inc. umbrella and have been in the same family for the duration of their operating history.

 

The portfolio is located entirely within the Tampa–St. Petersburg–Clearwater MSA, the 17th largest metropolitan area in the United States by population. According to the Tampa Bay Economic Development Council, the MSA’s nonfarm employment base surpassed 1.5 million jobs at year-end 2023, with professional and business services accounting for over 292,000 of those positions. The metro added more than 51,200 net new residents between 2022 and 2023 alone—a 1.6% year-over-year growth rate—and the Tampa Bay region is projected to absorb an additional 397,000 residents through 2030, per the Bureau of Economic and Business Research at the University of Florida. The Wall Street Journal ranked Tampa the fourth hottest job market in the nation in 2024, and a CoworkingCafe analysis ranked the city second among mid-sized U.S. metros for economic expansion between 2019 and 2023, with the local economy growing 43% over that period. Three of the four portfolio assets sit in Pinellas County, an infill peninsula market with approximately 967,000 residents, a largely built-out land base, and zero new self-storage supply registering in the Tarpon Springs and Palm Harbor trade areas as of the date of this analysis. The fourth asset, in Hudson, is positioned along the US-19 corridor in Pasco County, one of the fastest-growing counties in the region and projected to add approximately 63,000 new residents through 2030.

 

The portfolio offers a compelling value-add investment thesis to investors. Three of the four assets carry significant in-place rent upside relative to weighted market rents, and the portfolio as a whole has roughly 8 points of occupancy lift to bring in line with industry average today. A centralized operator is positioned to compress the expense structure and improve asset management efficiency across all four properties simultaneously, and at Palm Harbor specifically, the Countryside retail strip – which generated approximately $461.9k in gross income on a trailing T-12 basis, including $409.8k in rental income and $52.1k in CAM reimbursements – represents an additional layer of optionality as a potential conversion to self-storage, subject to Pinellas County zoning approvals.

 

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Investment Highlights

  • Rare Multi-Asset Scale Opportunity: Acquire 1,920 storage units and 229,030 NRSF across four established facilities in a single transaction.
  • Long-Term Family Ownership: Properties have been owned and operated by the same family since inception, providing a well-maintained and proven operating platform.
  • Embedded Revenue Growth: Three of the four assets feature significant in-place rental rate upside relative to current market rents.
  • Occupancy Upside Across the Portfolio: The portfolio offers roughly eight percentage points of occupancy growth potential to align with stabilized market levels.
  • Supply-Constrained Tampa Bay Locations: Three assets are located in infill Pinellas County submarkets with limited development opportunities and virtually no new self-storage supply.
  • Unique Redevelopment Optionality: The 49,119 SF Countryside Strip retail center at Palm Harbor provides additional income today and potential future self-storage conversion upside, subject to zoning approvals.
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5190 Ulmerton RdClearwater, FL 33762

Cushman and Wakefield Self-Storage Advisory Group

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