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14210 Longstreet Rd

14210 Longstreet Rd | Willis | Texas | 77318 Back to Properties


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Confidentiality Agreement

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Property Highlights

    • $1,200,000
    • 52,680 NRSF
    • 61% Economic Occupancy
    • Strategically Located Near Lake Conroe
    • Expansion Opportunity Included

Property Details

  • Price: $1,200,000
  • Transaction Type: For Sale
  • Property Type: Specialty
  • Property Sub Type: Self-Storage
  • Building Size: 52,680 SF
  • Cap Rate: 5.78%%
  • Sale Type: Investment
  • Year Built: 1975
  • No. Stories: 1
  • APN/Parcel ID 0026-01-01823

Property Description

A-1 Storage is a pride of ownership boat and rv storage facility located in the fast growing north Houston suburb of Willis. The facility has a total of 242 units (186 covered / enclosed rv and 56 outdoor parking spots). The total net rentable square footage under roof is 52,680. Current physical occupancy of the enclosed storage space is 66%. The average unit size is 283 square feet. Total lot size is 3.548 acres. There is room to expand on the existing site and ability to buy adjacent parcels.

The facility features perimeter fencing, a large on-site mobile home for resident managers and extra wide driveways. A-1 Storage has been owned by the same out of state family for 10+ years. The resident managers have also been managing the facility for the last 10+ years.

A-1 Storage has no website, software or revenue management system. There is tremendous opportunity for a new owner to increase rental rates and occupancy by implementing a marketing and advertising campaign, software system and revenue management system. The immediate area surrounding the facility is a boating and lake community. Multiple single family developments are planned or under construction in the immediate area.

Priced at $1,200,000 A-1 Storage is priced below replacement cost at $23 / nrsf.

 

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Property Amenities

  • Property Manager on Site

Financial Summary (Actual - )

Annual Annual Per SF
Gross Rental Income: - -
Other Income: - -
Vacancy Loss: - -
Effective Gross Income: - -
Net Operating Income: $69,311 1.32