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Self-Storage Facility

Guard Drive Self Storage

1332 Guard Dr, Dallas, TX 75217

Listing Price: $4,500,000

Cap Rate
5.60%
Number of Units
305
Occupancy
85.0%
Gross SF
36,320
Rentable SF
36,320
Price/Rentable SF
$123.90
Year Built
2021

Investment Overview

Guard Drive Self Storage is a brand new 36,320 rentable-square foot storage facility resting on approximately 2.19 acres in Dallas, Texas. The Class-A institutional quality facility - which officially opened for business in mid August - is comprised of 223 climate-controlled units and 82 non-climate drive up units. Features include a professional leasing office, garage-style roll up doors, standing-seam metal roofs, wide concrete driveways, 24-hour video surveillance cameras, personalized key-pad gated entry, and perimeter fencing and lighting. The property will also benefit from the excellent visibility and accessibility provided by its strategic location near the intersection of Highway 175 and Lake June Road, upon which approximately 36,000 vehicles travel each day. Additionally, Highway 175 – which connects downtown Dallas to southeastern suburbs such as Seagoville, Kaufman, and Mabank – sees more than 62,000 vehicles per day. In addition to the facility’s favorable location, attractive supply/demand fundaments for the submarket in which Guard Drive operates suggest the property should enjoy a rapid lease-up process. To be sure, only 4.64 square feet of storage space per capita exists within a three-mile radius surrounding the facility. Offered for $4,500,000, a new investor will be purchasing the state-of-the-art facility at a 5.60 percent stabilized cap rate. Additionally, a new operator should be able to raise rates – particularly for climate-controlled units – with relative ease once the property is fully stabilized. To be sure, few competitors even offer climate-controlled units in the submarket, and no new storage facilities have been constructed within a three-mile radius since 2004.

Investment Highlights

  • Class-A Institutional Quality Asset – 2021 Construction
  • Under-Supplied Submarket – Only 4.66 Square Feet/Capita in 3-Mile Radius
  • Excellent Location Near Intersection of Lake June Road and Highway 175

Exclusively Listed By

Financing By

Self-Storage Facility

Guard Drive Self Storage

Listing Price: $4,500,000

Cap Rate
5.60%
Number of Units
305
Occupancy
85.0%
Gross SF
36,320
Rentable SF
36,320
Price/Rentable SF
$123.90
Year Built
2021

Investment Highlights

  • Class-A Institutional Quality Asset – 2021 Construction
  • Under-Supplied Submarket – Only 4.66 Square Feet/Capita in 3-Mile Radius
  • Excellent Location Near Intersection of Lake June Road and Highway 175

Investment Overview

Guard Drive Self Storage is a brand new 36,320 rentable-square foot storage facility resting on approximately 2.19 acres in Dallas, Texas. The Class-A institutional quality facility - which officially opened for business in mid August - is comprised of 223 climate-controlled units and 82 non-climate drive up units. Features include a professional leasing office, garage-style roll up doors, standing-seam metal roofs, wide concrete driveways, 24-hour video surveillance cameras, personalized key-pad gated entry, and perimeter fencing and lighting. The property will also benefit from the excellent visibility and accessibility provided by its strategic location near the intersection of Highway 175 and Lake June Road, upon which approximately 36,000 vehicles travel each day. Additionally, Highway 175 – which connects downtown Dallas to southeastern suburbs such as Seagoville, Kaufman, and Mabank – sees more than 62,000 vehicles per day. In addition to the facility’s favorable location, attractive supply/demand fundaments for the submarket in which Guard Drive operates suggest the property should enjoy a rapid lease-up process. To be sure, only 4.64 square feet of storage space per capita exists within a three-mile radius surrounding the facility. Offered for $4,500,000, a new investor will be purchasing the state-of-the-art facility at a 5.60 percent stabilized cap rate. Additionally, a new operator should be able to raise rates – particularly for climate-controlled units – with relative ease once the property is fully stabilized. To be sure, few competitors even offer climate-controlled units in the submarket, and no new storage facilities have been constructed within a three-mile radius since 2004.

Exclusively Listed By

Financing By

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