Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale MORSTOR STORAGE in Cibolo, Texas. MORSTOR STORAGE consists of 23,240 net-rentable square feet and maintains 134 non-climate controlled units ranging from 50 square feet to 350 square feet. The single-story property was built in 2024, with phase I construction completed. This opportunity allows 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 2.84 acres and features state of the art surveillance system, gated entry and personalized keypad entry to access the facility. Additionally, the property offers asphalt driveways through the facility, and chain link fencing surrounding the facility. Phase II utilities, including electrical conduit and water lines, have been prepared for future expansion. The expansion potential for the current parcel includes the addition of a third non-climate-controlled building, along with a larger fourth building featuring climate-controlled units, which could result in over 50,000 net rentable square feet. Existing non-climate controlled inventory is 6.54 net rentable square feet per capita and climate controlled inventory is 4.59 net rentable square feet per capita in a 5-mile as reported by Yardi Matrix. Notably, there are no self-storage projects in the development phase within a 3-mile radius of the subject property (Yardi Matrix). Conveniently located in Cibolo, Texas, within the northern part of the San Antonio MSA between Interstate 35 and Interstate 10, the property is surrounded by a population of 49,414 within a three-mile radius, including 17,605 households. The population has seen an increase of 39.49 percent since 2010 (US Census Bureau). Adjacent to the property is the Venado Crossing Subdivision, a 511-unit development spanning 145 acres, with an additional 8.07 acres zoned for multi-family development. The average daily traffic count on FM 78 is 16,142 vehicles per day. The area boasts a diverse workforce, including military and defense personnel, investment services, distribution centers, and municipal offices. Major employers in proximity include Randolph Air Force Base and Amazon.