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Self-Storage Facility

Prime Storage

9333 Main St, Houston, TX 77025

Listing Price: Request For Offer

Number of Units
1,326
Occupancy
80.0%
Gross SF
189,088
Rentable SF
189,088
Year Built
2000

Investment Overview

Prime Storage is a 1,326 unit, 189,088 NRSF self-storage facility in Houston, TX. The property was initially constructed in 2000 and then had an 29,000 square foot expansion open for business in 2017. The property sits on an approximately ten acre parcel and features numerous amenities found in institutional quality storage facilities including, but not limited to a full-service manager’s office and showroom, concrete driveways, units with roll-up doors, and video surveillance cameras throughout the property. Prime Storage is about five and a half miles south of downtown in one of the busiest and most desirable areas of Houston. The property fronts on Main Street inside Loop 610 (Houston’s Inner Loop) where more than 50,000 vehicles pass by the facility each day. The densely populated trade area around Prime Storage is home to around 125,000 people and includes prominent communities such as West University Place, Southside Place, and Braeswood Place where average household incomes are is around $125,000. The urban asset benefits from an abundance of nearby economic drivers such as numerous national and regional retailers, new multi-family developments, major medical facilities, and world class entertainment venues. The facility sits a block away from NRG Stadium which is home to the Houston Texans NFL franchise along with the Houston Livestock Show and Rodeo. One and a half miles to the north is the Texas Medical Center which is the largest medical city in the world treating ten million patients annually. The facility is owned and self-managed by a local partnership and this is the only self-storage facility they own. Street rates in most cases are around 40-50 percent less than the top of the market REIT operated assets that dominate the submarket. The prized location and upside potential of Prime Storage makes it not only a value-add opportunity for a sophisticated storage investor, but also an attractive covered land play for developers of different asset classes. The land value alone greatly minimizes an investors downside risk. The infill area south of Loop 610 is a massive potential residential frontier for Houston’s southward population boom that will also accommodate the growth of the Texas Medical Center.

Investment Highlights

  • 10.16 ACRES OF IRREPLACEABLE REAL ESTATE // Inside Loop 610 – five and a half miles from downtown.
  • 300 FEET OF FRONTAGE ON MAIN STREET // 50,617 Daily Traffic Counts
  • VALUE ADD OPPORTUNITIES // Street rates close to 50 percent less than those of REIT operated competition in many cases.
  • 1,326 UNITS – 189,088 NRSF
  • STRONG DEMOGRAPHICS // Three-mile average household incomes: +/- $125,000.
  • HEAVILY POPULATED AREA // Three-mile population +/- 125,000 one block from NRG Stadium (Home of the Houston Texans).
  • ONE AND A HALF MILES FROM THE TEXAS MEDICAL CENTER // Largest Medical City in the World (Ten Million Annual Patients)

Exclusively Listed By

Financing By

Self-Storage Facility

Prime Storage

Listing Price: Request For Offer

Number of Units
1,326
Occupancy
80.0%
Gross SF
189,088
Rentable SF
189,088
Year Built
2000

Investment Highlights

  • 10.16 ACRES OF IRREPLACEABLE REAL ESTATE // Inside Loop 610 – five and a half miles from downtown.
  • 300 FEET OF FRONTAGE ON MAIN STREET // 50,617 Daily Traffic Counts
  • VALUE ADD OPPORTUNITIES // Street rates close to 50 percent less than those of REIT operated competition in many cases.
  • 1,326 UNITS – 189,088 NRSF
  • STRONG DEMOGRAPHICS // Three-mile average household incomes: +/- $125,000.
  • HEAVILY POPULATED AREA // Three-mile population +/- 125,000 one block from NRG Stadium (Home of the Houston Texans).
  • ONE AND A HALF MILES FROM THE TEXAS MEDICAL CENTER // Largest Medical City in the World (Ten Million Annual Patients)

Investment Overview

Prime Storage is a 1,326 unit, 189,088 NRSF self-storage facility in Houston, TX. The property was initially constructed in 2000 and then had an 29,000 square foot expansion open for business in 2017. The property sits on an approximately ten acre parcel and features numerous amenities found in institutional quality storage facilities including, but not limited to a full-service manager’s office and showroom, concrete driveways, units with roll-up doors, and video surveillance cameras throughout the property. Prime Storage is about five and a half miles south of downtown in one of the busiest and most desirable areas of Houston. The property fronts on Main Street inside Loop 610 (Houston’s Inner Loop) where more than 50,000 vehicles pass by the facility each day. The densely populated trade area around Prime Storage is home to around 125,000 people and includes prominent communities such as West University Place, Southside Place, and Braeswood Place where average household incomes are is around $125,000. The urban asset benefits from an abundance of nearby economic drivers such as numerous national and regional retailers, new multi-family developments, major medical facilities, and world class entertainment venues. The facility sits a block away from NRG Stadium which is home to the Houston Texans NFL franchise along with the Houston Livestock Show and Rodeo. One and a half miles to the north is the Texas Medical Center which is the largest medical city in the world treating ten million patients annually. The facility is owned and self-managed by a local partnership and this is the only self-storage facility they own. Street rates in most cases are around 40-50 percent less than the top of the market REIT operated assets that dominate the submarket. The prized location and upside potential of Prime Storage makes it not only a value-add opportunity for a sophisticated storage investor, but also an attractive covered land play for developers of different asset classes. The land value alone greatly minimizes an investors downside risk. The infill area south of Loop 610 is a massive potential residential frontier for Houston’s southward population boom that will also accommodate the growth of the Texas Medical Center.

Exclusively Listed By

Financing By

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