Investment Overview

Low Tide Storage is a 69,060 net rentable square foot boat storage facility located in Sargent, Texas. The property sits on approximately five acres of land consisting of six single story buildings that house 163 enclosed units. The property was constructed in 2002 with additions occurring in 2006 and 2013. The metal buildings are wood framed and are windstorm certified with WPI8 Windstorm Certificates. The units have crushed concrete parking surfaces and contain a 120v electrical outlet and an overhead light that operates on a motion sensor. There is a safety chain on each of the units that fastens to the building to secure the unit door while loading/unloading. Other amenities include a large concrete wash station, 24-7 video surveillance, 2 manual gates with combination lock entry, chain link fencing, and LED lighting. Low Tide Storage is in an ideal spot on FM 457 just 3.5 miles from the Sargent Corkscrew Bridge and boat launch. With easy access to East Matagorda Bay, the Intercoastal Waterway and the Gulf of Mexico, Low Tide Storage offers arguably the most convenient location in Sargent for commuters to store their boats in lieu of towing them through a busy city. The property is remotely managed by an individual who lives in Central Texas (approximately 3 hours away) and says he visits the property approximately twice per year. Over 90 percent of the tenants are on autopay. Low Tide Storage is over 90 percent physically occupied and draws the vast majority of its tenants from the Greater Houston Area. Offered at an in place cap rate of 7.00 percent Low Tide Storage should provide an investor a stable return at a low cost basis. As of August 2024, Low Tide Storage is 92 percent physically occupied.