Investment Overview

Palm Tree Storage is a 33,625 rentable-square foot self-storage facility resting on approximately 7.15 acres in Glen Rose, Texas. Originally constructed in 2000 and later expanded in 2022, the facility contains 128 non-climate drive-up units, 12 non-climate interior units, 20 covered parking spaces, 20 uncovered parking spaces, a large office/warehouse building, and a “barndominium” style residence that could also be used for self-storage. Property amenities include garage-style roll up doors, perimeter fencing and lighting, personalized key-pad gated entry, wide driveways, and ample land for future storage expansion. The sellers currently occupy the office/warehouse space and intend to execute a 6-month gross lease at a monthly rate of $2,000 upon closing. Glen Rose, located approximately 25 miles southwest of Fort Worth, is the county seat of Somervell County. Known as the Dinosaur Capital of Texas, the town is a popular tourist destination due to the wide variety of recreational activities offered at locations such as Dinosaur Valley State Park, Fossil Rim Wildlife Center, Squaw Valley Golf Course, and Rough Creek Lodge and Resort. Additionally, Glen Rose is strategically positioned along Highway 67, which connects the Dallas / Fort Worth Metroplex to Highway 281 – the primary (non-Interstate) thoroughfare used by most North Texas residents to access the Texas Hill Country. Palm Tree Storage is currently owner-operated, and prospective tenants are seen on a by-appointment-only basis. The current owners run a variety of unrelated businesses that have historically been prioritized over Palm Tree Storage – thus legitimizing a new owner’s opportunity to add value throughout their hold period by implementing modern revenue management and operational practices. To be sure, as of August 2024, the facility’s physical and economic occupancy rates reside at only 90 percent and 68 percent, respectively. Once physical and economic stabilization of the existing square footage has been achieved, expanding the facility’s footprint is almost certainly the next logical step. Offered for $1,950,000, well-qualified buyers can purchase Palm Tree Storage using the attractive seller-financing terms described herein. More specifically, the current owners have proposed a 60 percent loan based on a 25-year amortization schedule that matures in five years at a fixed interest rate of five percent (interest-only payments will be entertained on a case-by-case basis).