A+ Storage Mission is a pride of ownership self-storage facility located in the booming Rio Grande Valley City of Mission, Texas. McAllen/Edinburg/Mission is the 5th largest MSA in Texas as of the 2010 U.S. Census. The facility features all paved asphalt driveways, perimeter chain link fencing, large on-site office and gated keypad access.
There are a total of 169 units ranging in size from 5×10 to 10×30. Additionally, there is a 700 square foot warehouse currently vacant but available for rent and a significant value-add opportunity for the next owner. Current physical occupancy is 63% and economic occupancy is only 45%.
The average unit size 139 square feet. Mission, Texas is located along Expressway 83 – a major east-west road through the Rio Grande Valley. The facility has excellent frontage and visibility on Exp 83 with traffic counts of 67,867 vehicles per day. The area surrounding A+ Storage Mission is densely populated with 72,677 people in a three-mile radius.
New ownership will be able to achieve double digit cash on cash returns by brining physical and economic occupancy to market average. Priced at $850,000, A+ Storage is an attractive $35 / NRSF – well below replacement cost.