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Self-Storage Facility

ACI Storage Portfolio

1650 S Meadows Dr, Granbury, TX 76048

Listing Price: $22,250,000

Cap Rate
5.70%
Number of Units
1,309
Occupancy
99.3%
Rentable SF
233,461
Price/Rentable SF
$95.30
Year Built
1977

Investment Overview

The ACI Storage Portfolio includes a total of two self-storage facilities – one located in Granbury, Texas and one located in Abilene, Texas. Situated just south of Fort Worth, ACI Shops & Storage in Granbury is a 134,735 rentable-square foot facility resting on two parcel equating to approximately 8.39 acres of land. The property was constructed in phases between 2002 and 2020 and it contains 113 climate-controlled units, 556 drive-up units, 21 oversized warehouse “shops”, and five office/retail suites. Approximately 100-miles to the west, ACI Self Storage in Abilene is a 98,726 rentable-square foot facility situated on five non-contiguous parcels, equating to approximately 8.26 acres of land, that are all located within 3/10th of a mile from each other. Built in phases between the late 1970’s and 2012, the Abilene location consists of 109 climate-controlled units, 496 drive-up units, seven office/warehouse units, one commercial office suite, and one 60 x 120 uncovered parking area leased to one tenant. Both properties feature many of the amenities one would expect to find at a modern storage facility, such as a professional leasing office and showroom, wide paved driveways, personalized key-pad gated entry, 24-hour video surveillance cameras, and perimeter fencing and lighting. Additionally, there is potential for future storage expansion at the Abilene location. Both locations have enjoyed higher than average physical and economic occupancies throughout the past several years, and each expansion phase leased up very quickly. This is due in part to their visibility and accessibility along major thoroughfares. To be sure, more than 20,000 vehicles travel by each facility every day. As of July 2022, the portfolio boasts a physical occupancy rate of 99 percent and an economic occupancy rate of approximately 88 percent, and because of this, a new operator will almost certainly want to raise street rates immediately upon acquisition (see rent survey for additional details). Offered for a combined purchase price of $22,250,000, the ACI Storage Portfolio is available for a year-one broker-adjusted 5.70 percent cap rate. When the facilities’ existing income stream is combined with a new operator’s ability to both raise rental rates and expand the footprint of the Abilene facility, the ACI Storage Portfolio represents an opportunity to not only generate above-market yields day-one, but also add significant value to the asset throughout the hold period.

Investment Highlights

  • Stabilized Cash Flow – 99 Percent Physical and 88 Percent Economic Occupancy
  • Opportunity to Increase Rental Rates at Both Facilities
  • Both Facilities Located on Major Thoroughfares – Approximately 20,000 Vehicles per Day

Exclusively Listed By

Self-Storage Facility

ACI Storage Portfolio

Listing Price: $22,250,000

Cap Rate
5.70%
Number of Units
1,309
Occupancy
99.3%
Rentable SF
233,461
Price/Rentable SF
$95.30
Year Built
1977

Investment Highlights

  • Stabilized Cash Flow – 99 Percent Physical and 88 Percent Economic Occupancy
  • Opportunity to Increase Rental Rates at Both Facilities
  • Both Facilities Located on Major Thoroughfares – Approximately 20,000 Vehicles per Day

Investment Overview

The ACI Storage Portfolio includes a total of two self-storage facilities – one located in Granbury, Texas and one located in Abilene, Texas. Situated just south of Fort Worth, ACI Shops & Storage in Granbury is a 134,735 rentable-square foot facility resting on two parcel equating to approximately 8.39 acres of land. The property was constructed in phases between 2002 and 2020 and it contains 113 climate-controlled units, 556 drive-up units, 21 oversized warehouse “shops”, and five office/retail suites. Approximately 100-miles to the west, ACI Self Storage in Abilene is a 98,726 rentable-square foot facility situated on five non-contiguous parcels, equating to approximately 8.26 acres of land, that are all located within 3/10th of a mile from each other. Built in phases between the late 1970’s and 2012, the Abilene location consists of 109 climate-controlled units, 496 drive-up units, seven office/warehouse units, one commercial office suite, and one 60 x 120 uncovered parking area leased to one tenant. Both properties feature many of the amenities one would expect to find at a modern storage facility, such as a professional leasing office and showroom, wide paved driveways, personalized key-pad gated entry, 24-hour video surveillance cameras, and perimeter fencing and lighting. Additionally, there is potential for future storage expansion at the Abilene location. Both locations have enjoyed higher than average physical and economic occupancies throughout the past several years, and each expansion phase leased up very quickly. This is due in part to their visibility and accessibility along major thoroughfares. To be sure, more than 20,000 vehicles travel by each facility every day. As of July 2022, the portfolio boasts a physical occupancy rate of 99 percent and an economic occupancy rate of approximately 88 percent, and because of this, a new operator will almost certainly want to raise street rates immediately upon acquisition (see rent survey for additional details). Offered for a combined purchase price of $22,250,000, the ACI Storage Portfolio is available for a year-one broker-adjusted 5.70 percent cap rate. When the facilities’ existing income stream is combined with a new operator’s ability to both raise rental rates and expand the footprint of the Abilene facility, the ACI Storage Portfolio represents an opportunity to not only generate above-market yields day-one, but also add significant value to the asset throughout the hold period.

Exclusively Listed By

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