Property Description
Laguna Vista Self Storage is a class “A” self-storage facility in Laguna Vista, Texas. The facility was built in 1999 and features all concrete driveways, roll-up doors, cmu cinderblock construction and gated keypad entry. The facility is 100% non-climate controlled with a total of 239 units / 51,840 NRSF.
The property is located on Ocean Boulevard. 90% of vehicle traffic visiting Laguna Vista, Laguna Heights, Port Isabel or South Padre Island passes by Laguna Vista Self Storage. Average daily traffic counts exceed 6,000 VPD on Highway 100 near Laguna Vista Self-Storage. Additionally, the facility is only 6.0 miles from Queen Isabel Causeway – the only bridge to and from South Padre Island. Other nearby attractions include South Padres Island Golf Club, Harlingen Airport (45 Minutes) and several national / regional retailers.
Priced at $2,150,000 Laguna Vista Self Storage offers a new investor the opportunity to acquire a strategically located, value-add self-storage facility priced at replacement cost – $38/ NRSF. The current physical occupancy is 77% and economic occupancy is 78% with rents below market averages.
