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Self-Storage Facility

Drake Storage

1440 N Orange St, Giddings, TX 78942

Listing Price: $4,200,000

Cap Rate
5.25%
Number of Units
399
Occupancy
94.0%
Rentable SF
61,520
Price/Rentable SF
$68.27
Year Built
1994

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale, Drake Storage in Giddings, Texas. Consisting of two property locations with 61,520 net rentable square feet on 9.1 acres and 399 units. Both facilities maintain 94 climate controlled units ranging from 50 square feet to 150 square feet, 286 non-climate controlled units ranging from 40 to 360 square feet, four enclosed RV parking spaces ranging 560 square feet to 750 square feet, and 15 non-covered parking spaces. The property features a current CAP rate of 5.25 percent and a year 1 CAP rate of 5.57 percent. Combined physical occupancy is 94 percent. Drake Storage is located at 1440 North Orange Street in Giddings, Texas which is 8.36 acres and includes 94 climate controlled units, 210 non-climate controlled units, four enclosed parking spaces, 15 non-covered parking spaces, as well as 3.7 acres of unused land located on the southeast of the site, which could be used for future expansion. Subject property also offers asphalt surface which can be easily maintained. A satellite property is also included and located at 1107 Parkway Street in Giddings, Texas which is 0.809 acres and includes 76 non-climate controlled units. Parkway street property offers reinforced concrete drives which can be easily maintained. Giddings is the county seat of Lee County, Texas, United States situated on the intersection of US Highway 77 and US Highway 290, 55 miles east of Austin and 108 miles northwest of Houston. Giddings has a population of 7,703 and Lee County has a population of 17,058 (2019).

Investment Highlights

  • 61,520 Net Rentable Square Feet
  • 5.25% CAP Rate
  • 9.1 Acres With Room For Expansion
  • Physical Occupancy at 94 Percent

Exclusively Listed By

Financing By

Self-Storage Facility

Drake Storage

Listing Price: $4,200,000

Cap Rate
5.25%
Number of Units
399
Occupancy
94.0%
Rentable SF
61,520
Price/Rentable SF
$68.27
Year Built
1994

Investment Highlights

  • 61,520 Net Rentable Square Feet
  • 5.25% CAP Rate
  • 9.1 Acres With Room For Expansion
  • Physical Occupancy at 94 Percent

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale, Drake Storage in Giddings, Texas. Consisting of two property locations with 61,520 net rentable square feet on 9.1 acres and 399 units. Both facilities maintain 94 climate controlled units ranging from 50 square feet to 150 square feet, 286 non-climate controlled units ranging from 40 to 360 square feet, four enclosed RV parking spaces ranging 560 square feet to 750 square feet, and 15 non-covered parking spaces. The property features a current CAP rate of 5.25 percent and a year 1 CAP rate of 5.57 percent. Combined physical occupancy is 94 percent. Drake Storage is located at 1440 North Orange Street in Giddings, Texas which is 8.36 acres and includes 94 climate controlled units, 210 non-climate controlled units, four enclosed parking spaces, 15 non-covered parking spaces, as well as 3.7 acres of unused land located on the southeast of the site, which could be used for future expansion. Subject property also offers asphalt surface which can be easily maintained. A satellite property is also included and located at 1107 Parkway Street in Giddings, Texas which is 0.809 acres and includes 76 non-climate controlled units. Parkway street property offers reinforced concrete drives which can be easily maintained. Giddings is the county seat of Lee County, Texas, United States situated on the intersection of US Highway 77 and US Highway 290, 55 miles east of Austin and 108 miles northwest of Houston. Giddings has a population of 7,703 and Lee County has a population of 17,058 (2019).

Exclusively Listed By

Financing By

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