Investment Overview

Self Storage of Anna is a 16,445 net rentable-square foot self-storage facility located in Anna, Texas. The property sits on approximately 0.92 acres of land and consists of eight single-story buildings housing 112 non-climate drive up units. The property was constructed in 2003, then expanded in 2022. Additionally, the property features personalized keypad entry, secured perimeter fencing, 24/7 video surveillance, and garage-style roll up doors. According to the Economic Development Corporation of Anna, the city is the fourth fastest growing city in the nation, and a variety of infrastructure projects throughout will undoubtedly help the city manage the influx of new residents. In fact, more than 6,000 single-family residential units have been delivered to market in recent years, and 390-acre upcoming developments will do nothing but accelerate the rate of growth. More specifically, the 970-acre Sherley Farms community only four miles from Self Storage of Anna will add over 3,000 new homes to the market. Furthermore, a 390-acre mixed-use development by Bloomfield Homes will feature single-family residential homes, multi-family development, and commercial properties. The current owner of the facility manages the property himself, and in 2022 he expanded the facility by an additional 5,800 rentable-square feet. Unfortunately, because the current owners work full-time, the facility has struggled to maintain a physical occupancy rate any higher than 60 percent. Submarket data suggests there is room to grow from both a rental rate and occupancy rate perspective as their advertised street rates are below that of nearby competitors with stabilized occupancy. Self Storage of Anna offers investors an exciting value-add opportunity in an exponentially growing market. By taking a more “hands-on” approach (at both a strategic and day-to-day level) to increase revenue to market standards, an investor could receive a 7.5 percent unleveraged return year-one, and nearly 10 percent by year five.