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Self-Storage Facility

Chilla's Storage & Gift Shop

2119 TX-361, Port Aransas, TX 78373

Listing Price: $1,800,000

Cap Rate
5.01%
Occupancy
88.0%
Gross SF
12,675
Rentable SF
12,675
Price/Rentable SF
$142.01
Year Built
2003

Investment Overview

Chilla’s Storage and Gift shop is a 12,675 net rentable square foot self-storage facility located in Port Aransas, Texas. The property was built in 2003, it sits on approximately 1.02 acres of land and contains 107 units. The unit mix consists of 85 climate-controlled units (9,075 NRSF), 10 large (12x30) drive-up units with an electrical outlet in each unit for Boat/RV Storage, and 12 outdoor parking spaces. There is an onsite manager's office that also serves as a gift shop, but the gift shop revenue is not in the financial underwriting and will not remain after the sale. In addition to the manager's office, Chilla’s Storage and Gift Shop features several other amenities including an automatic entrance gate with keycode access, concrete driveways, roll-up doors, keypad access to the climate control building, and video surveillance. Chilla’s Storage and Gift Shop sits on Texas State Highway 361 which is the primary thoroughfare in Port Aransas or “Port A” as it’s known. Port Aransas is rated as one of the “best U.S. beach towns”, and one of the most popular tourist destinations along the Texas Gulf Coast. The area is booming in popularity and, not surprisingly, new communities are popping up on this Mustang Island destination. In fact, 360 homes are in the process of being constructed at Cinnamon Shores South which is a 300-acre community five minutes from Chilla’s. 25 percent percent of the tenants live outside of Port Aransas and presumably utilize the storage facility for their vacation home. In addition to the beautiful sandy beaches that line the Port A shores, Port Aransas is home to numerous festivals throughout the year, prestigious fishing tournaments, and is a hotbed for live music. Chilla’s Storage and Gift Shop is capitalizing on the island’s growth. The 85 climate control units are completely occupied which would seem in line with all of the new beach homes being constructed on the island. Additionally, only one enclosed Boat/RV Space is available at the time of this publication. The current occupancy is around 93 percent by units with the majority of the vacancy being related to outdoor parking.

Investment Highlights

  • Port Aransas, TX Location – One of the "Best U.S. Beach Towns"
  • 100 Percent Physical Occupancy on Climate Control Units
  • Frontage on TX State Highway 361 – 11,426 Daily Traffic Counts

Exclusively Listed By

Financing By

Self-Storage Facility

Chilla's Storage & Gift Shop

Listing Price: $1,800,000

Cap Rate
5.01%
Occupancy
88.0%
Gross SF
12,675
Rentable SF
12,675
Price/Rentable SF
$142.01
Year Built
2003

Investment Highlights

  • Port Aransas, TX Location – One of the "Best U.S. Beach Towns"
  • 100 Percent Physical Occupancy on Climate Control Units
  • Frontage on TX State Highway 361 – 11,426 Daily Traffic Counts

Investment Overview

Chilla’s Storage and Gift shop is a 12,675 net rentable square foot self-storage facility located in Port Aransas, Texas. The property was built in 2003, it sits on approximately 1.02 acres of land and contains 107 units. The unit mix consists of 85 climate-controlled units (9,075 NRSF), 10 large (12x30) drive-up units with an electrical outlet in each unit for Boat/RV Storage, and 12 outdoor parking spaces. There is an onsite manager's office that also serves as a gift shop, but the gift shop revenue is not in the financial underwriting and will not remain after the sale. In addition to the manager's office, Chilla’s Storage and Gift Shop features several other amenities including an automatic entrance gate with keycode access, concrete driveways, roll-up doors, keypad access to the climate control building, and video surveillance. Chilla’s Storage and Gift Shop sits on Texas State Highway 361 which is the primary thoroughfare in Port Aransas or “Port A” as it’s known. Port Aransas is rated as one of the “best U.S. beach towns”, and one of the most popular tourist destinations along the Texas Gulf Coast. The area is booming in popularity and, not surprisingly, new communities are popping up on this Mustang Island destination. In fact, 360 homes are in the process of being constructed at Cinnamon Shores South which is a 300-acre community five minutes from Chilla’s. 25 percent percent of the tenants live outside of Port Aransas and presumably utilize the storage facility for their vacation home. In addition to the beautiful sandy beaches that line the Port A shores, Port Aransas is home to numerous festivals throughout the year, prestigious fishing tournaments, and is a hotbed for live music. Chilla’s Storage and Gift Shop is capitalizing on the island’s growth. The 85 climate control units are completely occupied which would seem in line with all of the new beach homes being constructed on the island. Additionally, only one enclosed Boat/RV Space is available at the time of this publication. The current occupancy is around 93 percent by units with the majority of the vacancy being related to outdoor parking.

Exclusively Listed By

Financing By

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