Skip to main content

Self-Storage Facility

IN Self Storage

2400 Victory Dr, Flower Mound, TX 75028

Listing Price: $17,300,000

Cap Rate
5.12%
Number of Units
1,041
Occupancy
82.3%
Gross SF
136,150
Rentable SF
136,150
Price/Rentable SF
$127.07
Year Built
2001

Investment Overview

The Karr Self-Storage Team is pleased to exclusively offer for sale the IN Self Storage Portfolio. The offering consists of four self-storage facilities located throughout the Dallas-Fort Worth Metroplex, the fastest growing metropolitan area in the United States. In total, the facilities contain 136,150 rentable-square feet of storage space divided among 1,041 units. Most of the units were constructed within the past 20 years to institutional-grade standards, and each individual facility contains many of the features one would expect to find in a professionally managed self-storage property. Amenities include, but are not limited to, garage-style roll up doors, 24-hour video surveillance cameras, personalized key-pad gated entry, perimeter fencing and lighting, and paved driveways. The current owner operates the facilities remotely from Colorado, and each property (except for the Flower Mound location) possesses an un-manned leasing office that contains a large interactive kiosk. Most tenant transactions are handled through the kiosk, over the telephone, or through the property’s website. Vacant units are secured with a combination lock, and new tenants are given a combination to unlock the vacant unit upon signing a lease. The owner employs one manager who rotates between the four properties. His duties include cleaning vacated units, depositing rent checks, conducting regular property maintenance, and reporting any major property or tenant issues to the owner’s office in Denver. Purchased individually at different points in time, each facility has experienced consistent year-over-year revenue growth since being acquired – lending credence to the owner’s unique management style. Offered for $17,300,000, a new investor will be purchasing the stabilized portfolio for a 5.12 percent year one (broker-adjusted) cap rate. Additionally, attractive demographics and a growing population base within each trade area suggest year-over-year incremental revenue growth is achievable throughout the hold period – thus allowing a new owner to capture unleveraged pro-forma yields exceeding six percent. To be sure, population growth and average household income far-exceed national averages in each of the four cities in which the properties are located.

Investment Highlights

  • 5.12 Percent Year One Cap Rate
  • 93.8 Percent Physical Occupancy – Stabilized Cash Flow
  • Rental Rates below Submarket Averages

Exclusively Listed By

Financing By

Self-Storage Facility

IN Self Storage

Listing Price: $17,300,000

Cap Rate
5.12%
Number of Units
1,041
Occupancy
82.3%
Gross SF
136,150
Rentable SF
136,150
Price/Rentable SF
$127.07
Year Built
2001

Investment Highlights

  • 5.12 Percent Year One Cap Rate
  • 93.8 Percent Physical Occupancy – Stabilized Cash Flow
  • Rental Rates below Submarket Averages

Investment Overview

The Karr Self-Storage Team is pleased to exclusively offer for sale the IN Self Storage Portfolio. The offering consists of four self-storage facilities located throughout the Dallas-Fort Worth Metroplex, the fastest growing metropolitan area in the United States. In total, the facilities contain 136,150 rentable-square feet of storage space divided among 1,041 units. Most of the units were constructed within the past 20 years to institutional-grade standards, and each individual facility contains many of the features one would expect to find in a professionally managed self-storage property. Amenities include, but are not limited to, garage-style roll up doors, 24-hour video surveillance cameras, personalized key-pad gated entry, perimeter fencing and lighting, and paved driveways. The current owner operates the facilities remotely from Colorado, and each property (except for the Flower Mound location) possesses an un-manned leasing office that contains a large interactive kiosk. Most tenant transactions are handled through the kiosk, over the telephone, or through the property’s website. Vacant units are secured with a combination lock, and new tenants are given a combination to unlock the vacant unit upon signing a lease. The owner employs one manager who rotates between the four properties. His duties include cleaning vacated units, depositing rent checks, conducting regular property maintenance, and reporting any major property or tenant issues to the owner’s office in Denver. Purchased individually at different points in time, each facility has experienced consistent year-over-year revenue growth since being acquired – lending credence to the owner’s unique management style. Offered for $17,300,000, a new investor will be purchasing the stabilized portfolio for a 5.12 percent year one (broker-adjusted) cap rate. Additionally, attractive demographics and a growing population base within each trade area suggest year-over-year incremental revenue growth is achievable throughout the hold period – thus allowing a new owner to capture unleveraged pro-forma yields exceeding six percent. To be sure, population growth and average household income far-exceed national averages in each of the four cities in which the properties are located.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower