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Self-Storage Facility

Ready Lock Go Self-Storage

150 N Live Oak St, Webster, TX 77598

Listing Price: $650,000

Cap Rate
8.99%
Number of Units
82
Occupancy
82.9%
Gross SF
8,550
Rentable SF
8,550
Price/Rentable SF
$76.02
Year Built
1972

Investment Overview

Ready Lock Go is a 8,550 net rentable square foot self-storage facility located in Webster, Texas. The property sits on approximately 4/10th of an acre of land consisting of 3 single story buildings that house 82 units. The property was constructed in 1988 and recently renovated in 2023. Ready Lock Go has crushed-gravel pavement and is enclosed by a chain link fence with a keypad gate entrance. There are 9 units outside of the chain link fence that each have iron bar covers shielding the roll up doors from the public.

Ready Lock Go is positioned on Live Oak Street less than a quarter mile from the intersection of West NASA Parkway and Old Galveston Road (State Highway 3) which is one of the busiest intersections in the Clear Lake area with daily traffic counts over 38,000. Webster is seeing exponential economic growth year-over-year. Just 2 miles from Ready Lock Go, Edgewater by Johnson Properties is a 538-acre masterplanned community that will add approximately 2,600 new residents to webster. This project includes single and multi family properties, a marina, hotel, and retail shops. In addition to Edgewater, Flyway is another mixed-use project that is currently under construction also 2 miles away. This 80-acre mixed-use retail area will be anchored by Great Wolf Lodge and include multiple nationally recognized retail sites.

Ready Lock Go is managed by an individual who lives roughly an hour away and comes to the property on an as needed basis. The storage facility has struggled to maintain a 60 percent occupancy, however, REITS in the area have stabilized occupancy with higher street rates. Ready Lock Go offers investors an exciting value-add opportunity. By utilizing a more sophisticated management approach to increase occupancy and revenue to market standards, an investor could achieve over 10 percent unleveraged yield and 15 percent cash-on-cash return.

Investment Highlights

  • Popular Houston Suburb // Webster has a population of 12,182 and is expected to increase 6% in the next two years.
  • 8,550 NRSF with 82 units // Security features include chain link fence with gated entry, 24/7 video surveillance, and iron bar covers for the perimeter units.
  • Great value add opportunity // Over 10% unleveraged yield within 36 months // room for rate growth as REITS in the area maintain stabilized occupancy at higher rental rates.
  • Edgewater housing development will bring in 2,600 new residents to Webster // Flyway's 80-acre mixed-use entertainment area is under construction and will attract new businesses and residents.

Exclusively Listed By

Financing By

Self-Storage Facility

Ready Lock Go Self-Storage

Listing Price: $650,000

Cap Rate
8.99%
Number of Units
82
Occupancy
82.9%
Gross SF
8,550
Rentable SF
8,550
Price/Rentable SF
$76.02
Year Built
1972

Investment Highlights

  • Popular Houston Suburb // Webster has a population of 12,182 and is expected to increase 6% in the next two years.
  • 8,550 NRSF with 82 units // Security features include chain link fence with gated entry, 24/7 video surveillance, and iron bar covers for the perimeter units.
  • Great value add opportunity // Over 10% unleveraged yield within 36 months // room for rate growth as REITS in the area maintain stabilized occupancy at higher rental rates.
  • Edgewater housing development will bring in 2,600 new residents to Webster // Flyway's 80-acre mixed-use entertainment area is under construction and will attract new businesses and residents.

Investment Overview

Ready Lock Go is a 8,550 net rentable square foot self-storage facility located in Webster, Texas. The property sits on approximately 4/10th of an acre of land consisting of 3 single story buildings that house 82 units. The property was constructed in 1988 and recently renovated in 2023. Ready Lock Go has crushed-gravel pavement and is enclosed by a chain link fence with a keypad gate entrance. There are 9 units outside of the chain link fence that each have iron bar covers shielding the roll up doors from the public. Ready Lock Go is positioned on Live Oak Street less than a quarter mile from the intersection of West NASA Parkway and Old Galveston Road (State Highway 3) which is one of the busiest intersections in the Clear Lake area with daily traffic counts over 38,000. Webster is seeing exponential economic growth year-over-year. Just 2 miles from Ready Lock Go, Edgewater by Johnson Properties is a 538-acre masterplanned community that will add approximately 2,600 new residents to webster. This project includes single and multi family properties, a marina, hotel, and retail shops. In addition to Edgewater, Flyway is another mixed-use project that is currently under construction also 2 miles away. This 80-acre mixed-use retail area will be anchored by Great Wolf Lodge and include multiple nationally recognized retail sites. Ready Lock Go is managed by an individual who lives roughly an hour away and comes to the property on an as needed basis. The storage facility has struggled to maintain a 60 percent occupancy, however, REITS in the area have stabilized occupancy with higher street rates. Ready Lock Go offers investors an exciting value-add opportunity. By utilizing a more sophisticated management approach to increase occupancy and revenue to market standards, an investor could achieve over 10 percent unleveraged yield and 15 percent cash-on-cash return.

Exclusively Listed By

Financing By

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