Property Description
Spicewood Super Storage is a class “A” boat and rv storage facility with conventional mini-storage units located outside of Austin, Texas in the city of Spicewood. The facility was built in 2001 and expanded over the years with the most recent addition completed in 2016. Construction highlights include concrete driveways, steel and metal framing, extra large driveways and standing seam roofs. There is dedicated outside open parking located on permeable crushed gravel. Security highlights include an abundance of security cameras, perimeter fencing and gated keypad access.
Spicewood Super Storage has consistently grown revenue of an annual basis. 2018 gross income grew 66% from 2017. 2019 gross income in on pace to grow 12% from 2018 gross income. The facility has a stable of long-term tenants storing recreational vehicles. Lake LBJ, Horseshoe Bay, Lake Marble Falls and Lake Travis all serve the boating community and are located in close proximity to Spicewood Super Storage.
The facility continues to absorb vacant units and has grown physical occupancy to 91%. Economic occupancy is currently 78% leaving plenty of upside for a new owner to raise rates and increase occupancy.
