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Self-Storage Facility

AllSize Storage

4111 Old Jacksboro Hwy, Wichita Falls, TX 76302

Listing Price: $6,000,000

Cap Rate
5.06%
Number of Units
438
Occupancy
83.0%
Gross SF
64,900
Rentable SF
64,900
Price/Rentable SF
$92.45
Year Built
1993

Investment Overview

AllSize Self Storage, located in Wichita Falls, Texas, is a 438 unit facility encompassing 64,900 rentable-square feet resting on one parcel approximately 4.70 acres in size. The facility was constructed in 1993 and has been owner-managed by the original developer since that time. The facility has been operating at a high level for many years, and as of June 2021 physical occupancy rests at approximately 97 percent and economic occupancy is approximately 83 percent. The facility’s historical operating success is a byproduct of multiple factors. These include but are not limited to the facility’s location on Old Jacksboro Highway (upon which 21,000 vehicles travel per day and only 6.79 feet of storage supply exists per capita within a three-mile radius), a quality demographic from which the majority of the tenants are sourced (one-mile average household income exceeds $70,000 annually), and a variety of amenities / security features that include 24-hour video surveillance, personalized key-pad gated entry, garage style roll-up doors, an on-site managers residence, and perimeter fencing / lighting. Due to these attributes, the owner has consistently been able to raise rates on an annual basis. To be sure, street rates consistently get raised on an annual basis by five percent, and existing tenants typically see their effective rate increased by four percent on an annual basis. Wichita Falls has a population of more than 120,000 and is home to Sheppard Air Force Base, which houses the Air Force's largest technical training wing and the Euro-NATO Joint Jet Pilot Training program, the world's only multi-nationally staffed and managed flying training program chartered to produce combat pilots for both USAF and NATO. Offered for $6,000,000 a new investor will be purchasing an asset capable of generating a broker-adjusted year-one unleveraged yield of 5.05 percent with an opportunity to achieve cash-on-cash returns of approximately 7.15 percent on a pro forma basis.

Investment Highlights

  • Year One (Broker Adjusted) Cap Rate – 5.05%
  • 96.85% Physical Occupancy (June 2021)
  • 83.01% Economic Occupancy (June 2021)

Exclusively Listed By

Financing By

Listing Price: $6,000,000

Cap Rate
5.06%
Number of Units
438
Occupancy
83.0%
Gross SF
64,900
Rentable SF
64,900
Price/Rentable SF
$92.45
Year Built
1993

Investment Highlights

  • Year One (Broker Adjusted) Cap Rate – 5.05%
  • 96.85% Physical Occupancy (June 2021)
  • 83.01% Economic Occupancy (June 2021)

Investment Overview

AllSize Self Storage, located in Wichita Falls, Texas, is a 438 unit facility encompassing 64,900 rentable-square feet resting on one parcel approximately 4.70 acres in size. The facility was constructed in 1993 and has been owner-managed by the original developer since that time. The facility has been operating at a high level for many years, and as of June 2021 physical occupancy rests at approximately 97 percent and economic occupancy is approximately 83 percent. The facility’s historical operating success is a byproduct of multiple factors. These include but are not limited to the facility’s location on Old Jacksboro Highway (upon which 21,000 vehicles travel per day and only 6.79 feet of storage supply exists per capita within a three-mile radius), a quality demographic from which the majority of the tenants are sourced (one-mile average household income exceeds $70,000 annually), and a variety of amenities / security features that include 24-hour video surveillance, personalized key-pad gated entry, garage style roll-up doors, an on-site managers residence, and perimeter fencing / lighting. Due to these attributes, the owner has consistently been able to raise rates on an annual basis. To be sure, street rates consistently get raised on an annual basis by five percent, and existing tenants typically see their effective rate increased by four percent on an annual basis. Wichita Falls has a population of more than 120,000 and is home to Sheppard Air Force Base, which houses the Air Force's largest technical training wing and the Euro-NATO Joint Jet Pilot Training program, the world's only multi-nationally staffed and managed flying training program chartered to produce combat pilots for both USAF and NATO. Offered for $6,000,000 a new investor will be purchasing an asset capable of generating a broker-adjusted year-one unleveraged yield of 5.05 percent with an opportunity to achieve cash-on-cash returns of approximately 7.15 percent on a pro forma basis.

Exclusively Listed By

Financing By

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