Self-Storage Facility
Fen-Tex Self Storage
9880 San Marcos Hwy, Fentress, TX 78622
Listing Price: $2,570,000
Investment Overview
Fen-Tex Self Storage is a 277-unit, 34,600-square-foot, self-storage facility in Fentress, Texas, which is about 35 miles south of downtown Austin and 50 miles east of downtown San Antonio. Fen-Tex storage opened in October of 2023. The property sits on approximately 3.18 acres of land and has four, single-story buildings containing 204 drive up, non-climate control units, 40 covered parking spaces, and 33 open parking spaces. Fen-Tex Storage has many amenities commonly found in Class A self-storage facilities. There’s a gated entry with a digital keypad and 24/7 video surveillance throughout the facility, asphalt driveways, and units with roll up doors.
Fen-Tex Self Storage fronts on San Marcos Highway approximately one mile from Texas State Highway 130 which connects I-10 to Austin. Daily traffic counts in front of the facility are around 5,500 on San Marcos Highway. The immediate area around the facility is projected to grow exponentially with the development of the Cherryville Master-Planned Community. The 3,100-acre site which will be located at the corner of San Marcos Highway and SH 130 will be home to 4,000 single-family, multi-family and seniors housing units along with 4.5 million square feet of retail, office and industrial space. In addition to Cherryville, the Gristmill at Prairie Lea is a master-planned community scheduled to be built roughly three-and-a-half miles south of Fen-Tex. The 347-acre project is slated to consist of 2,595 residential units along with various commercial and retail units.
Priced at less than $75/NRSF, Fen-Tex Self Storage should yield a stabilized cap rate of around 7.25 percent on the edge of one of the nation’s hottest real estate markets. There is no manager's office, and the property is autonomously managed; however, there is over $25,000 in onsite manager's salary factored into the stabilized cap rate. The seller owns a relatively large adjacent parcel of undeveloped land and would be willing to sell up to 10 acres to the purchaser to create a larger asset. Additionally, the owner would be willing to construct the expansion piece. The property is owned and managed by a veteran developer; however, this is his first self-storage project and he’s never previously operated a storage facility.
Fen-Tex Self Storage
Investment Highlights
- ONE OF THE HOTTEST UP AND COMING SUBMARKETS IN THE AUSTIN MSA
- RESIDENTIAL GROWTH ON THE HORIZON //3,100-acre, master-planned community (4,000 residential units & 4.5M SF of mixed-use space). Gristmill at Prairie Lea (2,595 residential units appx. 3.5 miles away)
- ONE MILE FROM SH 130 THAT CONNECTS I-10 AND AUSTIN // 5,500 cars pass the facility on San Marcos Highway daily.
- EXPANSION POTENTIAL // Owner has up to 10 acres of additional land that it would sell if the purchaser wanted to construct a larger asset.
- 2023 CONSTRUCTION // The property features asphalt driveways, roll up doors, and multiple security features.
Exclusively Listed By
Listing Price: $2,570,000
Investment Highlights
- ONE OF THE HOTTEST UP AND COMING SUBMARKETS IN THE AUSTIN MSA
- RESIDENTIAL GROWTH ON THE HORIZON //3,100-acre, master-planned community (4,000 residential units & 4.5M SF of mixed-use space). Gristmill at Prairie Lea (2,595 residential units appx. 3.5 miles away)
- ONE MILE FROM SH 130 THAT CONNECTS I-10 AND AUSTIN // 5,500 cars pass the facility on San Marcos Highway daily.
- EXPANSION POTENTIAL // Owner has up to 10 acres of additional land that it would sell if the purchaser wanted to construct a larger asset.
- 2023 CONSTRUCTION // The property features asphalt driveways, roll up doors, and multiple security features.
Investment Overview
Fen-Tex Self Storage is a 277-unit, 34,600-square-foot, self-storage facility in Fentress, Texas, which is about 35 miles south of downtown Austin and 50 miles east of downtown San Antonio. Fen-Tex storage opened in October of 2023. The property sits on approximately 3.18 acres of land and has four, single-story buildings containing 204 drive up, non-climate control units, 40 covered parking spaces, and 33 open parking spaces. Fen-Tex Storage has many amenities commonly found in Class A self-storage facilities. There’s a gated entry with a digital keypad and 24/7 video surveillance throughout the facility, asphalt driveways, and units with roll up doors. Fen-Tex Self Storage fronts on San Marcos Highway approximately one mile from Texas State Highway 130 which connects I-10 to Austin. Daily traffic counts in front of the facility are around 5,500 on San Marcos Highway. The immediate area around the facility is projected to grow exponentially with the development of the Cherryville Master-Planned Community. The 3,100-acre site which will be located at the corner of San Marcos Highway and SH 130 will be home to 4,000 single-family, multi-family and seniors housing units along with 4.5 million square feet of retail, office and industrial space. In addition to Cherryville, the Gristmill at Prairie Lea is a master-planned community scheduled to be built roughly three-and-a-half miles south of Fen-Tex. The 347-acre project is slated to consist of 2,595 residential units along with various commercial and retail units. Priced at less than $75/NRSF, Fen-Tex Self Storage should yield a stabilized cap rate of around 7.25 percent on the edge of one of the nation’s hottest real estate markets. There is no manager's office, and the property is autonomously managed; however, there is over $25,000 in onsite manager's salary factored into the stabilized cap rate. The seller owns a relatively large adjacent parcel of undeveloped land and would be willing to sell up to 10 acres to the purchaser to create a larger asset. Additionally, the owner would be willing to construct the expansion piece. The property is owned and managed by a veteran developer; however, this is his first self-storage project and he’s never previously operated a storage facility.
Exclusively Listed By
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