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Self-Storage Facility

Eagle Climatized Storage

2300 Nederland Ave, Port Neches, TX 77651

Listing Price: $4,650,000

Cap Rate
5.17%
Number of Units
273
Occupancy
93.0%
Gross SF
32,194
Rentable SF
32,194
Price/Rentable SF
$144.44
Year Built
2003

Investment Overview

Eagle Climatized Storage is a 32,194 net rentable square foot self-storage facility located in Port Neches, Texas. The property sits on slightly over 3.5 acres of land and consists of 273 climate-controlled units The facility is one single story widespan metal framed building and was constructed in 2003.   Eagle Climatized Storage offers several amenities found in class A storage facilities including, but not limited to video surveillance throughout the property, an automated security gate with keycode access, roll up doors, concrete driveways, a manager’s office, and residence.   The facility is strategically located on Nederland Avenue close to the corner of FM 366. Nederland Avenue is a main thoroughfare that connects Highway 287 to the various residential neighborhoods of the “Mid-County” area of Jefferson County. There is approximately 1.5 acres of expansion land included in the sale on the back of the property that fronts onto FM 366 and provides visibility and access on two major thoroughfares and gives the property daily traffic counts of 19,414. Situated approximately 85 miles east of Houston, Port Neches is in the heart of the “Golden Triangle” about halfway in between Beaumont and Port Arthur. Its location is nestled along the banks of the Neches River between the Port of Beaumont and the Gulf of Mexico making Port Neches a key area for both commercial and recreational purposes. The regional economy is closely linked to the petrochemical industry for which the Neches River is a vital transportation route and major petrochemical employers dot the nearby economic landscape. Sunoco Fuels, Motiva, and Philips 66 are all within a couple of miles of Eagle Climatized Storage. The area is a hot spot for both salt water and freshwater fishing, water skiing, crabbing or simply enjoying a relaxing day at Port Neches Park which is about 1.5 miles from Eagle Climatized Storage. Furthermore, Eagle Climatized Storage is positioned within 2 miles of Nederland and Port Neches-Groves high schools which are the two most prominent high schools in the Mid-County area. The city of Port Neches has a proposed redevelopment of the riverfront area which would add among items pedestrian access, commercial outlets, entertainment venues and lodging to the Neches River waterfront area.   The asset should create a stable investment with some value-add components. The owner is a Georgia based individual in his early 80’s who grew up in the Golden Triangle but is looking to scale back and focus on business closer to home. Despite the out of state ownership, not having a website and not spending any money on marketing or advertising (the owner says “why should I”), Eagle Climatized Storage is approximately 99 percent physically occupied. It has been over 95 percent occupied for over five years. Upside could be achieved in raising rents which are around 20 percent below the market average and capturing ancillary income such as tenant insurance which has been absent.

Investment Highlights

  • Visibility on 2 Major Streets – 19,414 Combined Traffic Counts
  • Class A 2003 Construction
  • Historically Stable Asset – 99 Percent Current Physical Occupancy (By Units)
  • No Website, No Money Spent on Marketing or Advertising, No Ancillary Income Being Generated Such as Tenant Insurance
  • Additional +/- 1.5 Acres of Expansion Land Included in Sale
  • Numerous Class A Amenities
  • Numerous Nearby Economic Drivers: Phillips 66, Sunoco, and Motiva are Within Close Proximity
  • Situated Between Port Neches-Groves High School and Nederland High School

Exclusively Listed By

Financing By

Self-Storage Facility

Eagle Climatized Storage

Listing Price: $4,650,000

Cap Rate
5.17%
Number of Units
273
Occupancy
93.0%
Gross SF
32,194
Rentable SF
32,194
Price/Rentable SF
$144.44
Year Built
2003

Investment Highlights

  • Visibility on 2 Major Streets – 19,414 Combined Traffic Counts
  • Class A 2003 Construction
  • Historically Stable Asset – 99 Percent Current Physical Occupancy (By Units)
  • No Website, No Money Spent on Marketing or Advertising, No Ancillary Income Being Generated Such as Tenant Insurance
  • Additional +/- 1.5 Acres of Expansion Land Included in Sale
  • Numerous Class A Amenities
  • Numerous Nearby Economic Drivers: Phillips 66, Sunoco, and Motiva are Within Close Proximity
  • Situated Between Port Neches-Groves High School and Nederland High School

Investment Overview

Eagle Climatized Storage is a 32,194 net rentable square foot self-storage facility located in Port Neches, Texas. The property sits on slightly over 3.5 acres of land and consists of 273 climate-controlled units The facility is one single story widespan metal framed building and was constructed in 2003.   Eagle Climatized Storage offers several amenities found in class A storage facilities including, but not limited to video surveillance throughout the property, an automated security gate with keycode access, roll up doors, concrete driveways, a manager’s office, and residence.   The facility is strategically located on Nederland Avenue close to the corner of FM 366. Nederland Avenue is a main thoroughfare that connects Highway 287 to the various residential neighborhoods of the “Mid-County” area of Jefferson County. There is approximately 1.5 acres of expansion land included in the sale on the back of the property that fronts onto FM 366 and provides visibility and access on two major thoroughfares and gives the property daily traffic counts of 19,414. Situated approximately 85 miles east of Houston, Port Neches is in the heart of the “Golden Triangle” about halfway in between Beaumont and Port Arthur. Its location is nestled along the banks of the Neches River between the Port of Beaumont and the Gulf of Mexico making Port Neches a key area for both commercial and recreational purposes. The regional economy is closely linked to the petrochemical industry for which the Neches River is a vital transportation route and major petrochemical employers dot the nearby economic landscape. Sunoco Fuels, Motiva, and Philips 66 are all within a couple of miles of Eagle Climatized Storage. The area is a hot spot for both salt water and freshwater fishing, water skiing, crabbing or simply enjoying a relaxing day at Port Neches Park which is about 1.5 miles from Eagle Climatized Storage. Furthermore, Eagle Climatized Storage is positioned within 2 miles of Nederland and Port Neches-Groves high schools which are the two most prominent high schools in the Mid-County area. The city of Port Neches has a proposed redevelopment of the riverfront area which would add among items pedestrian access, commercial outlets, entertainment venues and lodging to the Neches River waterfront area.   The asset should create a stable investment with some value-add components. The owner is a Georgia based individual in his early 80’s who grew up in the Golden Triangle but is looking to scale back and focus on business closer to home. Despite the out of state ownership, not having a website and not spending any money on marketing or advertising (the owner says “why should I”), Eagle Climatized Storage is approximately 99 percent physically occupied. It has been over 95 percent occupied for over five years. Upside could be achieved in raising rents which are around 20 percent below the market average and capturing ancillary income such as tenant insurance which has been absent.

Exclusively Listed By

Financing By

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