Investment Overview

Free Up Storage Flint is a 28,370 rentable-square foot storage facility resting on approximately 5.41 acres in the Tyler, Texas suburb of Flint. Built in 1985 and later expanded in 2017, the facility comprises 254 non-climate drive up units and 16 uncovered parking spaces. Facility features include a personalized key-pad entry/exit gate, an on-site leasing office, perimeter fencing, garage-style roll up doors, and concrete driveways. Flint is a burgeoning suburb just south of Tyler, the primary economic hub of East Texas. Located only 10 miles outside the city limits, the town’s close proximity to Lake Palestine attracts both sporting and nature enthusiasts alike. To be sure, more than two million people visit Lake Palestine each year, buoying (and diversifying) a local economy whose output has been traditionally tied to the healthcare, education, and retail sectors. In support of this economic growth, a variety of residential projects and infrastructure improvements are currently underway. Additionally, Flint’s proximity to Tyler has historically broadened residents’ access to a healthy East Texas job market, as well as the University of Texas at Tyler. FreeUp Storage Flint, located on Highway 155 South, is not only easily accessible, but also highly visible to the approximately 15,000 vehicles that travel past the facility each day. The attractive demographic profile of those residing within the facility’s trade area (three-mile radius) has also greatly contributed to its historically high occupancy and collection rates. More specifically, the average household income within a three-mile radius of Free Up Storage exceeds $100,000, suggesting a new owner will be able to systematically increase rental rates and occupancy throughout the hold period. Offered for $2,100,000, when the facility’s historical operating performance is considered alongside a variety of submarket trends that are poised to positively impact the local economy, unleveraged yields approaching 8 percent within the first 18 months of operations appear well within reach.