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Self-Storage Facility

Coastal Boat & RV Storage

2651 TX-35, Angleton, TX 77515

Listing Price: $15,700,000

Cap Rate
5.51%
Number of Units
376
Occupancy
95.0%
Gross SF
191,294
Rentable SF
191,294
Price/Rentable SF
$82.07
Year Built
2018

Investment Overview

Coastal Boat & RV Storage is a 191,294 net rentable square foot Boat & RV storage facility located in Angleton, Texas, a coastal community about an hour south of downtown Houston. The property sits on approximately 20.34 acres of land and consists of 376 enclosed units. There are nine single story metal framed buildings with 60’ - 65’ wide concrete driveways. The property was constructed in two phases between 2017 and 2020. There are several first-class amenities that are commensurate with the high-end boats and recreational vehicles and other “toys” that are stored at this facility including concrete parking surfaces, electrical outlets in each of the units, a manager’s office, security fencing and a wrought iron entrance gate with keycode access. The construction of the buildings is wind rated to 120 MPH and the units feature 14’H doors that are 12’W with the walls of the units being 13.5’W so that any street legal vehicle can be stored at Coastal Boat & RV Storage. Additionally, there are numerous wash stations located throughout the property. Coastal Boat & RV Storage has around 1,200 feet of frontage on Texas State Highway 35 (SH 35) approximately 1/4 of a mile from the intersection of Texas State Highway 288 (SH 288) and is conveniently located near the beaches, bays, numerous bayous, and camping spots that Brazoria County offers. US 288 is the main thoroughfare from downtown Houston to Freeport and the Gulf of Mexico with around 32,000 vehicles daily. SH 35 is a main highway that provides traffic counts of over 14,000 and runs along the Texas Gulf Coast and connects coastal areas from as far away as greater Corpus Christi to Galveston County and the Clear Lake area. Not surprisingly many customers want to avoid hauling their RV’s and boats through crowded major cities. In fact nearly 2/3 of the tenant base comes from outside of Angleton. In addition to convenience to the Gulf Intercoastal Waterway and Surfside Beach which are popular Brazoria County tourist destinations, Coastal Boat and RV Storage sits at a convenient crossroads that provides easy access to the Matagorda and Galveston recreational areas. Furthermore, Coastal Boat & RV Storage sits across the street from a massive Buc-ees which is a wildly popular convenience store and an ideal pit stop for the numerous boaters and campers who are in need of ice, snacks, and gas before heading to the coast. In addition to tourism, the area is bolstered by the numerous petrochemical plants in the surrounding Lake Jackson, Clute, Freeport, and Angleton areas. The asset offers enormous stability and yet also presents a significant expansion opportunity with around eight additional acres of land included in the sale. Phase I of the property (144,927 NRSF) completely leased up to 100 percent physical occupancy within about 18-24 months of opening. Ownership added an additional 46,540 NRSF in the fall of 2020 and occupancy has filled back up to 99 percent within a year. Currently there are only four available units out of 367 and given the asset’s accelerated lease up Coastal Boat & RV Storage appears primed for continued development. No further detention should be required on the expansion land and the dirt has been raised over two feet from street level. The land has an entrance approved on Highway 35, it’s already partially fenced, power has already been brought to the land, the storm sewer is in place along with fire prevention water lines. The facility does have a website, but the rapid rise in occupancy occurred without the benefit of spending any additional advertising or marketing dollars. The owner is a local resident who also owns a comparable facility about 20 miles to the north.

Investment Highlights

  • Situated one quarter mile from the intersection of Texas State Highway 288 (SH 288) and Texas State Highway 35 (SH 35). Daily traffic counts on SH 288 – 32,218. Daily traffic counts on SH 35 – 14,464.
  • Phase I (144,927 NRSF) opened in November 2017 - Attained 100 percent occupancy within 18-24 Months. Phase II (46,540 NRSF) opened in September 2020. Attained 99 percent occupancy within 12 Months.
  • Close to Numerous Gulf Coast Recreational Destinations
  • The property features 60'- 65' wide concrete driveways, concrete parking surfaces, electrical outlets with a light in every unit, a managers office, security fencing and a wrought iron gate with security key code access.
  • Approximately eight acres of additional land with detention already in place included in the sale.

Exclusively Listed By

Financing By

Self-Storage Facility

Coastal Boat & RV Storage

Listing Price: $15,700,000

Cap Rate
5.51%
Number of Units
376
Occupancy
95.0%
Gross SF
191,294
Rentable SF
191,294
Price/Rentable SF
$82.07
Year Built
2018

Investment Highlights

  • Situated one quarter mile from the intersection of Texas State Highway 288 (SH 288) and Texas State Highway 35 (SH 35). Daily traffic counts on SH 288 – 32,218. Daily traffic counts on SH 35 – 14,464.
  • Phase I (144,927 NRSF) opened in November 2017 - Attained 100 percent occupancy within 18-24 Months. Phase II (46,540 NRSF) opened in September 2020. Attained 99 percent occupancy within 12 Months.
  • Close to Numerous Gulf Coast Recreational Destinations
  • The property features 60'- 65' wide concrete driveways, concrete parking surfaces, electrical outlets with a light in every unit, a managers office, security fencing and a wrought iron gate with security key code access.
  • Approximately eight acres of additional land with detention already in place included in the sale.

Investment Overview

Coastal Boat & RV Storage is a 191,294 net rentable square foot Boat & RV storage facility located in Angleton, Texas, a coastal community about an hour south of downtown Houston. The property sits on approximately 20.34 acres of land and consists of 376 enclosed units. There are nine single story metal framed buildings with 60’ - 65’ wide concrete driveways. The property was constructed in two phases between 2017 and 2020. There are several first-class amenities that are commensurate with the high-end boats and recreational vehicles and other “toys” that are stored at this facility including concrete parking surfaces, electrical outlets in each of the units, a manager’s office, security fencing and a wrought iron entrance gate with keycode access. The construction of the buildings is wind rated to 120 MPH and the units feature 14’H doors that are 12’W with the walls of the units being 13.5’W so that any street legal vehicle can be stored at Coastal Boat & RV Storage. Additionally, there are numerous wash stations located throughout the property. Coastal Boat & RV Storage has around 1,200 feet of frontage on Texas State Highway 35 (SH 35) approximately 1/4 of a mile from the intersection of Texas State Highway 288 (SH 288) and is conveniently located near the beaches, bays, numerous bayous, and camping spots that Brazoria County offers. US 288 is the main thoroughfare from downtown Houston to Freeport and the Gulf of Mexico with around 32,000 vehicles daily. SH 35 is a main highway that provides traffic counts of over 14,000 and runs along the Texas Gulf Coast and connects coastal areas from as far away as greater Corpus Christi to Galveston County and the Clear Lake area. Not surprisingly many customers want to avoid hauling their RV’s and boats through crowded major cities. In fact nearly 2/3 of the tenant base comes from outside of Angleton. In addition to convenience to the Gulf Intercoastal Waterway and Surfside Beach which are popular Brazoria County tourist destinations, Coastal Boat and RV Storage sits at a convenient crossroads that provides easy access to the Matagorda and Galveston recreational areas. Furthermore, Coastal Boat & RV Storage sits across the street from a massive Buc-ees which is a wildly popular convenience store and an ideal pit stop for the numerous boaters and campers who are in need of ice, snacks, and gas before heading to the coast. In addition to tourism, the area is bolstered by the numerous petrochemical plants in the surrounding Lake Jackson, Clute, Freeport, and Angleton areas. The asset offers enormous stability and yet also presents a significant expansion opportunity with around eight additional acres of land included in the sale. Phase I of the property (144,927 NRSF) completely leased up to 100 percent physical occupancy within about 18-24 months of opening. Ownership added an additional 46,540 NRSF in the fall of 2020 and occupancy has filled back up to 99 percent within a year. Currently there are only four available units out of 367 and given the asset’s accelerated lease up Coastal Boat & RV Storage appears primed for continued development. No further detention should be required on the expansion land and the dirt has been raised over two feet from street level. The land has an entrance approved on Highway 35, it’s already partially fenced, power has already been brought to the land, the storm sewer is in place along with fire prevention water lines. The facility does have a website, but the rapid rise in occupancy occurred without the benefit of spending any additional advertising or marketing dollars. The owner is a local resident who also owns a comparable facility about 20 miles to the north.

Exclusively Listed By

Financing By

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