Investment Overview

Marcus & Millichap is pleased to offer for purchase approximately 3.68 acres of raw land in Pittsburg, Texas. The county seat of Camp County, Pittsburg is a town in East Texas that experiences significant traffic volume due to its strategic location at the intersection of US 271 and State Highway 11. Additionally, Pittsburg benefits from its proximity to both Lake Bob Sandlin (less than three-miles away) and Interstate 30 (approximately 10-miles away). The Pittsburg Development Land comes shovel ready with building plans from Mauldin Architects, and a feasibility study conducted by one of the most respected names in the industry, Donald Jones Consulting, confirms the validity of the development. Furthermore, a geotechnical report and phase 1 environmental assessment have already been obtained, and the seller has already applied for a driveway permit through TxDOT. The property is located outside city limits, so formal building permits and governmental approvals are not required. Offered for $575,000, ($3.59 per square foot to the dirt) the development site is the perfect opportunity for both a first-time storage developer breaking into the industry or an existing operator looking to expand their portfolio. To be sure, using a conservative exit cap rate range of 6.00% - 6.50%, the financial analysis projects the facility to be valued in the $4,500,000 - $5,000,000 range upon completion and stabilization.