Investment Overview

Marcus & Millichap is pleased to offer for sale Mini Stor All, a four-location portfolio, in South Padre Island, Texas. The Mini Stor All Portfolio consists of 382 units spanning 39,932 net rentable square feet. The portfolio offers a variety of non-climate, climate controlled and uncovered parking units providing a diversified investment. Notably, this portfolio is the only non-climate and climate controlled facility on the Island of South Padre with limited competition in a 5-mile radius. The combined acreage of the portfolio is 1.58 acres across four parcels. The storage properties were built in 1999 and renovated in 2005. The portfolio sustains a combined physical occupancy of 92 percent and economic occupancy of 86 percent presenting a prime opportunity for an investor to increase rental rates to maximize revenue. Current operations do not offer tenant insurance, which at 60 percent penetration could add over $15,000 in additional annual revenue. The property located at 103 W. Saturn Lane provides an onsite office servicing all four locations. The portfolio features three locations with concrete drives and asphalt driveways at the fourth location. Mini Stor All Portfolio is situated in Cameron County on the Gulf Coast, at the southernmost tip of Texas. Within a 3-mile radius of the facility, the population stands at 2,182. The City of South Padre is a renowned tourist destination in South Texas, with an estimated annual visitation of 4.3 million, translating to an average daily population of 11,780 (South Padre Economic Development). The region is recognized for its growing aerospace industry, robust education and healthcare sectors, alongside its thriving tourism sector. Major employers in the area include The University of Texas Rio Grande Valley, as well as various hotels, restaurants, and tourism-related businesses.