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Self-Storage Facility

Blue Water Self Storage

1932 FM 523, Freeport, TX 77541

Listing Price: $3,850,000

Cap Rate
5.33%
Number of Units
295
Occupancy
85.0%
Rentable SF
56,600
Price/Rentable SF
$68.02
Year Built
1999

Investment Overview

Blue Water Self Storage is a 295-unit, 56,600 net rentable square foot self-storage facility located in Freeport, Texas. The property sits on approximately 8.17 acres of land, was constructed in 1999 and has 7 single story buildings. Blue Water Self Storage has many amenities including a gated entry with a digital keypad, an on-site management office, security lighting, concrete and gravel driveways, and units with roll up doors.   Freeport sits about 50 miles south of downtown Houston along the Texas Gulf Coast and together with prominent cities such as Lake Jackson, Angleton, and Clute helps form the Brazosport region. The property fronts on FM 523 about 6/10 of a mile north of TX State Highway 332 which is the primary thoroughfare from the Brazosport area to Surfside Beach. FM 523 is also a connector to Angleton and approximately 10,000 vehicles pass by the property daily. The corner of FM 523 and State Highway 332 is the last signalized intersection before crossing the Intercoastal Waterway Bridge into Surfside Beach.   The Brazosport region features one of the busiest industrial economies in the country and major employment sectors in the area include petrochemical and mineral resources (oil, gas, sulfur, salt, lime and gravel), and their support industries. Port Freeport currently ranks 24th among U.S. ports in international cargo tonnage handled. It is just three miles from open Gulf of Mexico waters and has an abundance of acreage for future development. Blue Water Self Storage sits in the shadows of an Air Liquide plant and numerous other prominent chemical companies have significant operations in the area including Dow Chemical which is the area’s largest employer with around 5,000 employees. In addition to Dow, Fluor Corporation, Zachry Group, Texas Department of Criminal Justice, the Wood PLC, Brazosport I.S.D., Brock Group, Brazoria County, Phillips 66, BASF Corporation, Excel, TDECU, and St. Luke’s Health Brazosport Hospital are major employers. The area also has 27 miles of publicly accessible beachfront and is home to Surfside Beach a popular area for tourists.   Blue Water Self Storage offers an immense upside opportunity for a sophisticated investor to maximize revenue and increase returns. Street rates at the property are approximately ½ of the market average and in some cases around 33 percent of the top of the market rates. The facility’s operations are rather antiquated as very little is being spent on advertising and marketing, tenant insurance isn’t being collected, and there’s no website. A purchaser should find significant upside by implementing more state-of-the-art management, raising rents, and capitalizing on ancillary revenue streams. Furthermore, there is approximately 4 acres of expansion area that is part of the offering which includes a concrete pad that is roughly one acre.   As of April 2022, Blue Water Self Storage is approximately 83 percent physically occupied by net rentable square footage.

Investment Highlights

  • Tremendous Upside - Ownership spent an average of $254 in advertising over the last 3 years. Street rates approximately ½ of the market average and 1/3 of the top of the market in many cases.
  • Approximately 4 acres of expansion land which includes a roughly 1 acre concrete pad.
  • $68.02 Per NRSF
  • Frontage on FM 523 +/- 10,000 Daily Traffic Counts – 6/10 Mile north of the intersection of State Highway 332 which is the primary connector to Surfside Beach.
  • Massive Industrial Region - Brazosport is home to Dow Chemical which employs approximately 5,000 people along with numerous other prominent chemical and petrochemical companies.
  • Popular Tourist Destination – Brazoria County has several recreational activities including 27 miles of publicly accessible beachfront.
  • 295 Units – 56,600 NRSF – Concrete and Gravel Driveways – Roll Up and Swing Doors.

Exclusively Listed By

Financing By

Self-Storage Facility

Blue Water Self Storage

Listing Price: $3,850,000

Cap Rate
5.33%
Number of Units
295
Occupancy
85.0%
Rentable SF
56,600
Price/Rentable SF
$68.02
Year Built
1999

Investment Highlights

  • Tremendous Upside - Ownership spent an average of $254 in advertising over the last 3 years. Street rates approximately ½ of the market average and 1/3 of the top of the market in many cases.
  • Approximately 4 acres of expansion land which includes a roughly 1 acre concrete pad.
  • $68.02 Per NRSF
  • Frontage on FM 523 +/- 10,000 Daily Traffic Counts – 6/10 Mile north of the intersection of State Highway 332 which is the primary connector to Surfside Beach.
  • Massive Industrial Region - Brazosport is home to Dow Chemical which employs approximately 5,000 people along with numerous other prominent chemical and petrochemical companies.
  • Popular Tourist Destination – Brazoria County has several recreational activities including 27 miles of publicly accessible beachfront.
  • 295 Units – 56,600 NRSF – Concrete and Gravel Driveways – Roll Up and Swing Doors.

Investment Overview

Blue Water Self Storage is a 295-unit, 56,600 net rentable square foot self-storage facility located in Freeport, Texas. The property sits on approximately 8.17 acres of land, was constructed in 1999 and has 7 single story buildings. Blue Water Self Storage has many amenities including a gated entry with a digital keypad, an on-site management office, security lighting, concrete and gravel driveways, and units with roll up doors.   Freeport sits about 50 miles south of downtown Houston along the Texas Gulf Coast and together with prominent cities such as Lake Jackson, Angleton, and Clute helps form the Brazosport region. The property fronts on FM 523 about 6/10 of a mile north of TX State Highway 332 which is the primary thoroughfare from the Brazosport area to Surfside Beach. FM 523 is also a connector to Angleton and approximately 10,000 vehicles pass by the property daily. The corner of FM 523 and State Highway 332 is the last signalized intersection before crossing the Intercoastal Waterway Bridge into Surfside Beach.   The Brazosport region features one of the busiest industrial economies in the country and major employment sectors in the area include petrochemical and mineral resources (oil, gas, sulfur, salt, lime and gravel), and their support industries. Port Freeport currently ranks 24th among U.S. ports in international cargo tonnage handled. It is just three miles from open Gulf of Mexico waters and has an abundance of acreage for future development. Blue Water Self Storage sits in the shadows of an Air Liquide plant and numerous other prominent chemical companies have significant operations in the area including Dow Chemical which is the area’s largest employer with around 5,000 employees. In addition to Dow, Fluor Corporation, Zachry Group, Texas Department of Criminal Justice, the Wood PLC, Brazosport I.S.D., Brock Group, Brazoria County, Phillips 66, BASF Corporation, Excel, TDECU, and St. Luke’s Health Brazosport Hospital are major employers. The area also has 27 miles of publicly accessible beachfront and is home to Surfside Beach a popular area for tourists.   Blue Water Self Storage offers an immense upside opportunity for a sophisticated investor to maximize revenue and increase returns. Street rates at the property are approximately ½ of the market average and in some cases around 33 percent of the top of the market rates. The facility’s operations are rather antiquated as very little is being spent on advertising and marketing, tenant insurance isn’t being collected, and there’s no website. A purchaser should find significant upside by implementing more state-of-the-art management, raising rents, and capitalizing on ancillary revenue streams. Furthermore, there is approximately 4 acres of expansion area that is part of the offering which includes a concrete pad that is roughly one acre.   As of April 2022, Blue Water Self Storage is approximately 83 percent physically occupied by net rentable square footage.

Exclusively Listed By

Financing By

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