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Self-Storage Facility

Churchill Bridge Storage

6447 County Rd 659, Brazoria, TX 77422

Listing Price: $1,000,000

Cap Rate
9.67%
Number of Units
130
Occupancy
93.0%
Rentable SF
51,512
Price/Rentable SF
$19.41
Year Built
1975

Investment Overview

Churchill Bridge Boat and RV Storage is a 130-unit 51,512 Net Rentable Square Foot storage facility situated across the street from the San Bernard River about an hour south of Houston. The property rests on approximately 6.3 acres and has 16 buildings. There are 127 enclosed units and 3 single family rent houses. Amenities include a power outlet in the units, a boat wash station, and 1,000-Watt security lighting.   The property is in the shadows of the newly constructed Churchill Bridge which is on Highway 2611 and turns into FM 2004 and connects Brazoria County to I-45 and the Clear Lake area of Southeast Houston. Churchill Bridge Storage is about 10 miles from where the mouth of the San Bernard River flows into the Gulf of Mexico. Thanks to its blend of upstream fresh water mixed with the Gulf salt water the San Bernard River is a popular fishing area with gars, minnows, river carpsuckers, smallmouth buffalos, channel catfish, and several sunfish species among others. In addition to tourism, the area is bolstered by the numerous petrochemical plants in the surrounding Lake Jackson, Clute, Freeport, and Angleton areas. Dow Chemical, Phillips 66, and BASF are a few of the region’s primary employers.    Priced at under $20 per NRSF Churchill Bridge Boat & RV Storage provides an investor the opportunity to acquire a well-positioned asset with significant upside opportunity. The asset is owned and operated by an area individual, and this is the only storage property he owns. There is very little marketing being done and the except for units that are unrentable the property has been over 95 percent to 100 percent physically occupied for over 10 years. By implementing rental increases to the standards of similar quality but professionally managed Brazoria County area facilities, repairing the unrentable units, and reducing economic vacancy to 7 percent an investor could see a proforma unlevered return close to 10 percent. Furthermore, there's around 1.75 acres of undeveloped expansion land included in the price.

Investment Highlights

  • $19.41/NRSF – 9.67 Percent End of Year One Pro Forma Cap Rate
  • San Bernard River Location – Popular Area with Diverse Fishing Opportunities and Convenient Access to Public Boat Ramp
  • Approximately 1.75 Acres of Expansion Land Included.
  • 130 Units – 51,512 NRSF
  • Individually Owned and Operated.
  • Historically Stable Asset – 95-100 Percent Physical Occupancy for over 10 years.
  • Amenities include a power outlet in each unit, a boat wash station, and security lighting.

Exclusively Listed By

Financing By

Self-Storage Facility

Churchill Bridge Storage

Listing Price: $1,000,000

Cap Rate
9.67%
Number of Units
130
Occupancy
93.0%
Rentable SF
51,512
Price/Rentable SF
$19.41
Year Built
1975

Investment Highlights

  • $19.41/NRSF – 9.67 Percent End of Year One Pro Forma Cap Rate
  • San Bernard River Location – Popular Area with Diverse Fishing Opportunities and Convenient Access to Public Boat Ramp
  • Approximately 1.75 Acres of Expansion Land Included.
  • 130 Units – 51,512 NRSF
  • Individually Owned and Operated.
  • Historically Stable Asset – 95-100 Percent Physical Occupancy for over 10 years.
  • Amenities include a power outlet in each unit, a boat wash station, and security lighting.

Investment Overview

Churchill Bridge Boat and RV Storage is a 130-unit 51,512 Net Rentable Square Foot storage facility situated across the street from the San Bernard River about an hour south of Houston. The property rests on approximately 6.3 acres and has 16 buildings. There are 127 enclosed units and 3 single family rent houses. Amenities include a power outlet in the units, a boat wash station, and 1,000-Watt security lighting.   The property is in the shadows of the newly constructed Churchill Bridge which is on Highway 2611 and turns into FM 2004 and connects Brazoria County to I-45 and the Clear Lake area of Southeast Houston. Churchill Bridge Storage is about 10 miles from where the mouth of the San Bernard River flows into the Gulf of Mexico. Thanks to its blend of upstream fresh water mixed with the Gulf salt water the San Bernard River is a popular fishing area with gars, minnows, river carpsuckers, smallmouth buffalos, channel catfish, and several sunfish species among others. In addition to tourism, the area is bolstered by the numerous petrochemical plants in the surrounding Lake Jackson, Clute, Freeport, and Angleton areas. Dow Chemical, Phillips 66, and BASF are a few of the region’s primary employers.    Priced at under $20 per NRSF Churchill Bridge Boat & RV Storage provides an investor the opportunity to acquire a well-positioned asset with significant upside opportunity. The asset is owned and operated by an area individual, and this is the only storage property he owns. There is very little marketing being done and the except for units that are unrentable the property has been over 95 percent to 100 percent physically occupied for over 10 years. By implementing rental increases to the standards of similar quality but professionally managed Brazoria County area facilities, repairing the unrentable units, and reducing economic vacancy to 7 percent an investor could see a proforma unlevered return close to 10 percent. Furthermore, there's around 1.75 acres of undeveloped expansion land included in the price.

Exclusively Listed By

Financing By

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