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Self-Storage Facility

Jumbo Self Storage

4931 Allen-Genoa Rd, Pasadena, TX 77504

Listing Price: Request For Offer

Number of Units
155
Occupancy
93.0%
Gross SF
51,000
Rentable SF
49,750
Year Built
1975

Investment Overview

Jumbo Self Storage is being offered as a value-add opportunity for the Self Storage investor. The facility has been self-managed and self-operated for many years. The facility features 152 units, all measuring approximately 10 x 25, hence the name Jumbo Self Storage. Jumbo also provides open parking with 10 x 25 measurements and currently there are +/- 47 spaces. The facility has a historical occupancy rate ranging from the high 90s to 100 percent, with below-market rents. As of January 1, 2022, the rents were increased by $5.00 per unit and are still slightly to significantly below the immediate competition. The facility experienced no significant occupancy decline after the rent increase; nor during any of the COVID outbreak and spread. Not only does Jumbo Self Storage offer an excellent initial return on investment, but also offers a value-add component through building additional units on the outside parking and unimproved land. The estimated increase in Net Rentable Square Feet is between 6,000 to 15,000 additional rentable footage. Currently, Jumbo Self Storage is using the additional land as open parking and has approximately 45 units/spaces being rented as well. The last component that makes Jumbo Self Storage a very unique investment opportunity is the ability to lock in SBA Financing with a low initial down payment of $200,000 (10%), at a fixed, interest rate at 4.50 - 4.75 percent, amortized over 25 years, with a 3 to 5 year term (depending on the borrower's credit strength). This facility can be viewed as either a performing investment property with historical stabilized returns and/or an add value investment with the opportunity to capitalize on underused/underdeveloped land and expanding the footprint of the facility closer to Allen-Genoa Road.

Investment Highlights

  • Market Cap rate return and value add investment opportunity on a combined 199 Units and Spaces.
  • All (152) large Units measuring approximately ~10 x 25 All (47) large open parking spaces also measuring ~ 10 x 25
  • Historically Stable Occupancy and increasing revenue year over year providing some assurance of dependable revenue in an unstable economic environment.
  • Undeveloped and underdeveloped land offering a prudent investor additional revenue in the future.
  • Opportunity to reconfigure facility to add either open parking, RV Parking, or possibly another Building parallel to the frontage
  • Excellent inflation hedge with probable value appreciation

Exclusively Listed By

Self-Storage Facility

Jumbo Self Storage

Listing Price: Request For Offer

Number of Units
155
Occupancy
93.0%
Gross SF
51,000
Rentable SF
49,750
Year Built
1975

Investment Highlights

  • Market Cap rate return and value add investment opportunity on a combined 199 Units and Spaces.
  • All (152) large Units measuring approximately ~10 x 25 All (47) large open parking spaces also measuring ~ 10 x 25
  • Historically Stable Occupancy and increasing revenue year over year providing some assurance of dependable revenue in an unstable economic environment.
  • Undeveloped and underdeveloped land offering a prudent investor additional revenue in the future.
  • Opportunity to reconfigure facility to add either open parking, RV Parking, or possibly another Building parallel to the frontage
  • Excellent inflation hedge with probable value appreciation

Investment Overview

Jumbo Self Storage is being offered as a value-add opportunity for the Self Storage investor. The facility has been self-managed and self-operated for many years. The facility features 152 units, all measuring approximately 10 x 25, hence the name Jumbo Self Storage. Jumbo also provides open parking with 10 x 25 measurements and currently there are +/- 47 spaces. The facility has a historical occupancy rate ranging from the high 90s to 100 percent, with below-market rents. As of January 1, 2022, the rents were increased by $5.00 per unit and are still slightly to significantly below the immediate competition. The facility experienced no significant occupancy decline after the rent increase; nor during any of the COVID outbreak and spread. Not only does Jumbo Self Storage offer an excellent initial return on investment, but also offers a value-add component through building additional units on the outside parking and unimproved land. The estimated increase in Net Rentable Square Feet is between 6,000 to 15,000 additional rentable footage. Currently, Jumbo Self Storage is using the additional land as open parking and has approximately 45 units/spaces being rented as well. The last component that makes Jumbo Self Storage a very unique investment opportunity is the ability to lock in SBA Financing with a low initial down payment of $200,000 (10%), at a fixed, interest rate at 4.50 - 4.75 percent, amortized over 25 years, with a 3 to 5 year term (depending on the borrower's credit strength). This facility can be viewed as either a performing investment property with historical stabilized returns and/or an add value investment with the opportunity to capitalize on underused/underdeveloped land and expanding the footprint of the facility closer to Allen-Genoa Road.

Exclusively Listed By

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