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, multifamily 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 potentially achieve a 7.94 percent unleveraged return year-one, and 12.15 percent by year three.