Investment Overview

Van Alstyne Self Storage is a 92,220 rentable-square foot storage facility resting on approximately 8.72 acres in Van Alstyne, Texas. The facility was originally constructed in 1996 and later expanded in 2021 and 2023. The diverse unit mix consists of 42 climate-controlled units, 208 non-climate drive up units, 91 covered parking spaces, 69 uncovered parking spaces, and an on-site residence. Amenities include personalized key-pad gated entrance, wide driveways, garage-style roll up doors, on-site manager’s residence, and excellent visibility and accessibility along Interstate-75, which sees more than 45,000 vehicles each day. Located just 30 minutes north of Dallas, Van Alstyne is considered part of the Sherman-Denison Metropolitan Statistical Area. The MSA has enjoyed an incredible economic and developmental boon since Texas Instruments announced plans for a $30 billion chip manufacturing plant in mid-2022. The project is already underway, and estimates state as many as 3,000 jobs will be created as a direct result. Consequently, thousands of new homes are currently under various stages of development and construction throughout the area, including Highpoint Villages which will bring 2,200 new homes to Van Alstyne along the I-75 corridor. The city was already benefitting from the gradual migration patterns from the Dallas-Fort Worth metroplex, and the recent development from its neighboring cities to the north has only further intensified its growth trajectory. Offered for $4,500,000, the facility is available below replacement cost at only $48.80 per rentable-square foot. Additionally, the attractive demographic trends in the submarket suggest a new investor will have ample opportunities for value creation over both the short and long term. For example, the current “mom & pop” owners have only one storage facility and do not utilize any type of sophisticated marketing, revenue management, or operational strategies that have become common best practices by the industry’s top operators over the past five years. As of 11/06/2024, the facility is 86 percent physically occupied and 76 percent economically occupied.