Investment Overview

Kingwood Oversized Storage is a 38,960 net rentable square foot self-storage facility located in Porter, Texas, an affluent Northeast Houston suburb approximately twenty-five miles from downtown. The property is on 2.83 acres with five metal framed single-story buildings consisting of 81 drive-up enclosed storage units and 24 outdoor parking spaces. There is also a cell tower that will have a new lease commence in April of 2026 and will need to be negotiated by the new owner. The facility was constructed in 2005 and 2010 and has many amenities including but not limited to garage-style roll-up doors, milled asphalt driveways, perimeter chain link fencing and laser motion detectors. There’s also an automatic entrance gate with digital keypad access. Kingwood is known as the “Livable Forest” and Kingwood Oversized Storage benefits from its high demographic setting. Kingwood Oversized Storage is less than 10 miles from Lake Houston and serves a well-to-do suburban population where the average household income is $123,578 within a five-mile radius of the property. Kingwood is the second largest master-planned community in Greater Houston with around 118,176 people currently living in the five-mile trade area and the population is expected to increase by 11 percent by 2028. The facility is also about 30-35 miles from both Lake Conroe and Lake Livingston which are two major lakes that are popular with Greater Houston area outdoor enthusiasts. While Kingwood is a popular commuter suburb with convenient access to Interstate 69, there are also several nearby employment centers. George Bush Intercontinental Airport is ten miles away, Insperity a nationwide Human Resources company is headquartered in Kingwood, and HCA Houston Healthcare has a significant presence in the area. Despite the busy surroundings Kingwood has over five hundred acres of nature preserves and parks and highly rated golf courses. The investment offers a purchaser the opportunity to own a stable, well-maintained Boat/RV storage facility that has enjoyed 90 percent plus occupancy since the second phase leased up 12 years ago. The solid occupancy has come without the benefit of any marketing or advertising, the owner doesn’t have a website for the property and doesn’t utilize any type of management software. By continuing to reduce physical vacancy, limiting concessions, and managing rents upward an investor could see an end of year one unlevered return of approximately 6.10 percent. Further upside will assuredly be achieved in 2026 when the property owner will be able to negotiate a new lease for the aforementioned cell phone tower that sits on the property. As of August 2023 Kingwood Oversized Storage is 93 percent physically occupied.