Investment Overview

Texas Lake Storage is a 19,530 rentable-square foot facility located in Alba, Texas. The property sits on approximately two separate parcels that total 2.31 acres and consists of four single-story buildings that house 66 non-climate drive-up units. Built in 2000 then expanded upon in 2006, the facility features garage-style roll-up doors, interior lighting, perimeter fencing, personalized key-pad entry, and 24-hour video surveillance. Additionally, Texas Lake Storage is strategically located a quarter-mile north of Highway 66, which sees over 6,500 vehicles each day. Alba, Texas is a suburb in East Texas just south of Lake Fork. With this positioning, Texas Lake Storage serves enclosed boat units, as well as traditional mini storage. Two new recreation areas (Caney Point & Lake Fork RF) are drawing in new residents and visitors. Each event draws in over 10,000 visitors, while boosting the local economy and encouraging new developments. Texas Lake Storage will continue to benefit from its positioning as residents continue to utilize Lake Fork for recreational and competition purposes. Offered at $650,000, the facility is available below its replacement cost at only $33.28 per square-foot. The clearest path for value-creation is via increasing physical occupancy, expanding upon the northern parcel, and increasing rental rates. The current owner operates the facility remotely and has a local individual that maintains the property and services tenant inquiries.