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Self-Storage Facility

Melissa, TX Storage Opportunity

1705 McKinney St, Melissa, TX 75454

Listing Price: $8,725,000

Cap Rate
3.95%
Number of Units
459
Occupancy
60.0%
Gross SF
56,525
Rentable SF
56,525
Price/Rentable SF
$154.36
Year Built
2021

Investment Overview

Marcus Millichap is pleased to exclusively offer for sale a self storage opportunity located in Melissa, Texas. The facility has an estimated certificate of occupancy date of September 2021 and will consist of 293 climate controlled units and 166 non-climate controlled units totaling 56,525 net rentable square feet. The property will be fully fenced with a keypad-gated entry, wide drives, an on-site management office, and 24-hour video surveillance.

The location of this facility benefits from a rapidly growing and affluent surrounding population. The population within five miles of the facility has increased by 242 percent since 2000, and is expected to continue to grow another 26 percent over the next five years. The site is strategically located between two major thoroughfares, US Route 75 and State Highway 121 offering easy access for customers throughout the Dallas/Fort Worth Metro. The City of Melissa has invested nearly $100 million in infrastructure over the last decade. Buc-ee's, a major Texas retailer opened one of its signature stores less than a mile from the storage facility and attracts 14,000-16,000 patrons each day. The property is also surrounded by 14 current residential neighborhoods and more homes being added regularly. This facility will benefit from great street frontage on Fannin Road/FM 338 combined with easy access from State Highway 121 to the south, US 75 to the west, and Melissa Road/FM 344 to the north; all of which have extremely high daily traffic counts.

Melissa, Texas Storage Opportunity is being offered for $8.725 million or $154.36 per rentable square foot.

Investment Highlights

  • Self-Storage Offering Located in Melissa, Texas
  • One of the Fastest Growing Submarkets in the Dallas/Fort Worth MSA
  • Estimated C of O - September 2021
  • Class A Self-Storage Facility
  • 56,252 Net Rentable Square Feet | 459 Total Units

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Self-Storage Facility

Melissa, TX Storage Opportunity

Listing Price: $8,725,000

Cap Rate
3.95%
Number of Units
459
Occupancy
60.0%
Gross SF
56,525
Rentable SF
56,525
Price/Rentable SF
$154.36
Year Built
2021

Investment Highlights

  • Self-Storage Offering Located in Melissa, Texas
  • One of the Fastest Growing Submarkets in the Dallas/Fort Worth MSA
  • Estimated C of O - September 2021
  • Class A Self-Storage Facility
  • 56,252 Net Rentable Square Feet | 459 Total Units

Investment Overview

Marcus Millichap is pleased to exclusively offer for sale a self storage opportunity located in Melissa, Texas. The facility has an estimated certificate of occupancy date of September 2021 and will consist of 293 climate controlled units and 166 non-climate controlled units totaling 56,525 net rentable square feet. The property will be fully fenced with a keypad-gated entry, wide drives, an on-site management office, and 24-hour video surveillance.

The location of this facility benefits from a rapidly growing and affluent surrounding population. The population within five miles of the facility has increased by 242 percent since 2000, and is expected to continue to grow another 26 percent over the next five years. The site is strategically located between two major thoroughfares, US Route 75 and State Highway 121 offering easy access for customers throughout the Dallas/Fort Worth Metro. The City of Melissa has invested nearly $100 million in infrastructure over the last decade. Buc-ee's, a major Texas retailer opened one of its signature stores less than a mile from the storage facility and attracts 14,000-16,000 patrons each day. The property is also surrounded by 14 current residential neighborhoods and more homes being added regularly. This facility will benefit from great street frontage on Fannin Road/FM 338 combined with easy access from State Highway 121 to the south, US 75 to the west, and Melissa Road/FM 344 to the north; all of which have extremely high daily traffic counts.

Melissa, Texas Storage Opportunity is being offered for $8.725 million or $154.36 per rentable square foot.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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