Self-Storage Facility

Quail Creek Self Storage

2110 Quail Creek Rd, Laredo, TX 78045

Listing Price: $5,455,000

Cap Rate
5.47%
Number of Units
445
Occupancy
81.0%
Gross SF
64,900
Rentable SF
64,900
Price/Rentable SF
$84.05
Year Built
2013

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Quail Creek Self Storage in Laredo, Texas, the tenth largest city by population in the state of Texas.

Consisting of 64,900 net rentable square feet, the facility maintains 159 non-climate-controlled units ranging from 50 square feet to 360 square feet and 286 climate-controlled units ranging from 25 square feet to 250 square feet. There are currently 57 interior non-climate controlled units which could be converted to climate-controlled units. The subject sustains economic and physical occupancies of 80.9 percent and 84.4 percent, allowing an investor to benefit from the continuation of lease-up activity combined with rental rate growth across multiple unit types and sizes. The property maintains a staff that prioritizes customer service and cleanliness; the facility is fully fenced, gated and lighted for safety. The property also offers reinforced concrete drives which can be easily maintained.

Many unit sizes are over 90 percent physical occupancy, presenting a prime opportunity to increase rental rates. A new investor can increase rents 10 percent on non-climate rents and 12 percent on climate-controlled rents, with a potential Year One Cap Rate of 7.22 percent.

Quail Creek Self Storage offers excellent visibility from Mines Road, which witnesses an average daily traffic count of 52,000 vehicles. The subject is near two major thoroughfares; located 1.5 miles from Interstate 35, with traffic counts in excess of 59,000 vehicles per day, and 1.4 miles of Interstate 69W with daily traffic counts of 37,000 vehicles. The facility is situated in a high-traffic corridor and is within close proximity to several residential zones, schools and national-retailers. There are a multitude of housing units and neighborhoods located off Mines Road. According to the Laredo Economic Development Corporation, Laredo boasts the #1 Wal-Mart in the nation based on sales per square footage. Additional new retail including Home Goods has been developed within 3 miles from the facility. An abundant, productive and bilingual workforce makes Laredo an outstanding business or industrial location. With a 2019 estimated population of 261,639 the Laredo MSA is one of the fastest growing in the U.S. In addition, there are approximately 455,000 people living just across the Rio Grande in Nuevo Laredo, Mexico making a combined total population of 716,639. Laredo's labor force is approximately 113,149 with a 3.7 percent unemployment rate, which does not include thousands of legal workers who live in Mexico and commute daily.

Investment Highlights

  • Stable Class A Asset located in a High Occupancy Submarket of Laredo
  • December 2020 Physical Occupancy near 90%
  • Economic Occupancy 81%
  • 64,900 Net Rentable Square Feet
  • 159 Non-Climate Controlled Units and 286 Climate Controlled Units

Exclusively Listed By

Self-Storage Facility

Quail Creek Self Storage

Listing Price: $5,455,000

Cap Rate
5.47%
Number of Units
445
Occupancy
81.0%
Gross SF
64,900
Rentable SF
64,900
Price/Rentable SF
$84.05
Year Built
2013

Investment Highlights

  • Stable Class A Asset located in a High Occupancy Submarket of Laredo
  • December 2020 Physical Occupancy near 90%
  • Economic Occupancy 81%
  • 64,900 Net Rentable Square Feet
  • 159 Non-Climate Controlled Units and 286 Climate Controlled Units

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Quail Creek Self Storage in Laredo, Texas, the tenth largest city by population in the state of Texas.

Consisting of 64,900 net rentable square feet, the facility maintains 159 non-climate-controlled units ranging from 50 square feet to 360 square feet and 286 climate-controlled units ranging from 25 square feet to 250 square feet. There are currently 57 interior non-climate controlled units which could be converted to climate-controlled units. The subject sustains economic and physical occupancies of 80.9 percent and 84.4 percent, allowing an investor to benefit from the continuation of lease-up activity combined with rental rate growth across multiple unit types and sizes. The property maintains a staff that prioritizes customer service and cleanliness; the facility is fully fenced, gated and lighted for safety. The property also offers reinforced concrete drives which can be easily maintained.

Many unit sizes are over 90 percent physical occupancy, presenting a prime opportunity to increase rental rates. A new investor can increase rents 10 percent on non-climate rents and 12 percent on climate-controlled rents, with a potential Year One Cap Rate of 7.22 percent.

Quail Creek Self Storage offers excellent visibility from Mines Road, which witnesses an average daily traffic count of 52,000 vehicles. The subject is near two major thoroughfares; located 1.5 miles from Interstate 35, with traffic counts in excess of 59,000 vehicles per day, and 1.4 miles of Interstate 69W with daily traffic counts of 37,000 vehicles. The facility is situated in a high-traffic corridor and is within close proximity to several residential zones, schools and national-retailers. There are a multitude of housing units and neighborhoods located off Mines Road. According to the Laredo Economic Development Corporation, Laredo boasts the #1 Wal-Mart in the nation based on sales per square footage. Additional new retail including Home Goods has been developed within 3 miles from the facility. An abundant, productive and bilingual workforce makes Laredo an outstanding business or industrial location. With a 2019 estimated population of 261,639 the Laredo MSA is one of the fastest growing in the U.S. In addition, there are approximately 455,000 people living just across the Rio Grande in Nuevo Laredo, Mexico making a combined total population of 716,639. Laredo's labor force is approximately 113,149 with a 3.7 percent unemployment rate, which does not include thousands of legal workers who live in Mexico and commute daily.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower