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Self-Storage Facility

Paluxy Drive Self Storage

6435 Paluxy Dr, Tyler, TX 75703

Listing Price: $3,600,000

Cap Rate
5.30%
Number of Units
279
Occupancy
83.8%
Gross SF
35,892
Rentable SF
35,892
Price/Rentable SF
$100.30
Year Built
1999

Investment Overview

Paluxy Drive Self Storage is a 35,892 rentable-square foot facility resting on one parcel approximately 2.29 acres in size in Tyler, Texas. The facility was built in 1999 and expanded in 2010. There are nine single story buildings comprised of 109 climate-controlled units and 279 non-climate drive-up units. As of August 2021, the physical occupancy is approximately 96 percent, and the economic occupancy is approximately 84 percent. The facility is owner-operated by a local physician and has been operating at a high level for years. The facility features concrete driveways, perimeter fencing and lighting, garage-style roll-up doors, standing seam metal roofs, personalized gated key-pad entry, and a manager’s office. Tyler has long been considered the medical, retail, and business hub of East Texas. This is due in part to its strategic location equidistant between Dallas/Fort Worth and Shreveport, Louisiana as well as the presence of The University of Texas at Tyler, which boasts a prestigious medical school. Offered for $3,600,000 a new investor will be purchasing an asset that is capable of generating a broker-adjusted unleveraged return of 5.30 percent year one. Furthermore, Paluxy Drive rental rates are approximately eleven percent below market averages. After raising rates, an experienced operator can reasonably expect to generate cash-on-cash returns of approximately 6.85 percent on a pro-forma basis.

Investment Highlights

  • Year-One (Broker Adjusted) CAP Rate – 5.30%
  • Street Rates Approximately 11% Below Market Averages
  • August 2021 – 96% Physical Occupancy

Exclusively Listed By

Financing By

Self-Storage Facility

Paluxy Drive Self Storage

Listing Price: $3,600,000

Cap Rate
5.30%
Number of Units
279
Occupancy
83.8%
Gross SF
35,892
Rentable SF
35,892
Price/Rentable SF
$100.30
Year Built
1999

Investment Highlights

  • Year-One (Broker Adjusted) CAP Rate – 5.30%
  • Street Rates Approximately 11% Below Market Averages
  • August 2021 – 96% Physical Occupancy

Investment Overview

Paluxy Drive Self Storage is a 35,892 rentable-square foot facility resting on one parcel approximately 2.29 acres in size in Tyler, Texas. The facility was built in 1999 and expanded in 2010. There are nine single story buildings comprised of 109 climate-controlled units and 279 non-climate drive-up units. As of August 2021, the physical occupancy is approximately 96 percent, and the economic occupancy is approximately 84 percent. The facility is owner-operated by a local physician and has been operating at a high level for years. The facility features concrete driveways, perimeter fencing and lighting, garage-style roll-up doors, standing seam metal roofs, personalized gated key-pad entry, and a manager’s office. Tyler has long been considered the medical, retail, and business hub of East Texas. This is due in part to its strategic location equidistant between Dallas/Fort Worth and Shreveport, Louisiana as well as the presence of The University of Texas at Tyler, which boasts a prestigious medical school. Offered for $3,600,000 a new investor will be purchasing an asset that is capable of generating a broker-adjusted unleveraged return of 5.30 percent year one. Furthermore, Paluxy Drive rental rates are approximately eleven percent below market averages. After raising rates, an experienced operator can reasonably expect to generate cash-on-cash returns of approximately 6.85 percent on a pro-forma basis.

Exclusively Listed By

Financing By

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