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Self-Storage Facility

The Storage Center

4500 S Congress Ave, Austin, TX 78745

Listing Price: Request For Offer

Number of Units
1,533
Occupancy
55.0%
Rentable SF
147,200
Year Built
2021

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale The Storage Center in Austin, Texas.

The Storage Center spanning 147,200 net-rentable square feet, maintains 1,449 climate-controlled units ranging from 25 square feet to 200 square feet and 84 non-climate controlled units ranging from 150 to 300 square feet. The three-story property was constructed in 2021 and sustains economic and physical occupancies of 49 percent and 52 percent, allowing an investor to benefit from the continuation of lease-up activity combined with rental rate growth across multiple unit types and sizes. The property is situated on 4.24 acres and features state of the art surveillance system, gated entry and personalized keypad entry to access the facility. Additionally, the property offers reinforced concrete drives and loading area canopies. Existing climate-controlled inventory within the three-mile radius is only 6.2 net-rentable square feet per capita as reported by Yardi Matrix.

Austin is the state capital of Texas with a current population over one million people and is one of the fastest growing metros in the country. The subject property is located in South Austin near US Highway 71 on South Congress Avenue. The traffic count on South Congress Avenue is 30,398 vehicles per day. South Congress is a primary corridor for commuters to travel to downtown Austin which is only 3.5 miles from the property. The Storage Center is surrounded numerous multi-family properties encompassing nearly 40,000 existing multi-family units within a three-mile radius. An additional 1,500 dwelling units under construction in the immediate trade area. Demographics within a three-mile radius of the subject property include 73,475 households and population of 161,904 people. Economic drivers for the Austin MSA are extremely diverse. They include the vibrant music, film and media production, education, local, state and federal government and many high-tech firms. Major employers near the property include State of Texas, Facebook, various local and regional hospitals, and Tesla.

Investment Highlights

  • +/- 30,498 DAILY TRAFFIC COUNTS | Located on the busy South Congress corridor 3.5 Miles from Downtown
  • 1,533 UNITS | 147,200 NRSF
  • LIMITED NEW COMPETITION | Only one self-storage project under development within three-mile radius of the facility. No competing facilities under development west of I-35 within 3-mile radius.
  • HEAVILY POPULATED AREA | Three-Mile Population +/- 161,904 | Total Households +/- 73,475
  • CLIMATE CONTROL DEMAND DRIVERS | Only 6.2 net rentable square feet per capita and nearly 40,000 existing multi-family units within three-mile radius and almost 1,500 units under construction.
  • MANAGEMENT & LEASE UP VALUE ADD | Only facility in Austin MSA and on average less than $775 per month spent on marketing & advertising since January 2023. Only $0.07 per square foot was spent on marketing & advertising in the trailing 12-month period.

Exclusively Listed By

Self-Storage Facility

The Storage Center

Listing Price: Request For Offer

Number of Units
1,533
Occupancy
55.0%
Rentable SF
147,200
Year Built
2021

Investment Highlights

  • +/- 30,498 DAILY TRAFFIC COUNTS | Located on the busy South Congress corridor 3.5 Miles from Downtown
  • 1,533 UNITS | 147,200 NRSF
  • LIMITED NEW COMPETITION | Only one self-storage project under development within three-mile radius of the facility. No competing facilities under development west of I-35 within 3-mile radius.
  • HEAVILY POPULATED AREA | Three-Mile Population +/- 161,904 | Total Households +/- 73,475
  • CLIMATE CONTROL DEMAND DRIVERS | Only 6.2 net rentable square feet per capita and nearly 40,000 existing multi-family units within three-mile radius and almost 1,500 units under construction.
  • MANAGEMENT & LEASE UP VALUE ADD | Only facility in Austin MSA and on average less than $775 per month spent on marketing & advertising since January 2023. Only $0.07 per square foot was spent on marketing & advertising in the trailing 12-month period.

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale The Storage Center in Austin, Texas. The Storage Center spanning 147,200 net-rentable square feet, maintains 1,449 climate-controlled units ranging from 25 square feet to 200 square feet and 84 non-climate controlled units ranging from 150 to 300 square feet. The three-story property was constructed in 2021 and sustains economic and physical occupancies of 49 percent and 52 percent, allowing an investor to benefit from the continuation of lease-up activity combined with rental rate growth across multiple unit types and sizes. The property is situated on 4.24 acres and features state of the art surveillance system, gated entry and personalized keypad entry to access the facility. Additionally, the property offers reinforced concrete drives and loading area canopies. Existing climate-controlled inventory within the three-mile radius is only 6.2 net-rentable square feet per capita as reported by Yardi Matrix. Austin is the state capital of Texas with a current population over one million people and is one of the fastest growing metros in the country. The subject property is located in South Austin near US Highway 71 on South Congress Avenue. The traffic count on South Congress Avenue is 30,398 vehicles per day. South Congress is a primary corridor for commuters to travel to downtown Austin which is only 3.5 miles from the property. The Storage Center is surrounded numerous multi-family properties encompassing nearly 40,000 existing multi-family units within a three-mile radius. An additional 1,500 dwelling units under construction in the immediate trade area. Demographics within a three-mile radius of the subject property include 73,475 households and population of 161,904 people. Economic drivers for the Austin MSA are extremely diverse. They include the vibrant music, film and media production, education, local, state and federal government and many high-tech firms. Major employers near the property include State of Texas, Facebook, various local and regional hospitals, and Tesla.

Exclusively Listed By

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