Investment Overview

Marcus & Millichap is pleased to present an exclusive opportunity to acquire Cibolo Storage, a strategically located self-storage facility in the rapidly growing community of Cibolo, Texas. Positioned just northeast of San Antonio along the Farm-to-Market 1103 corridor, the property features a mix of 246 non-climate-controlled units totaling 28,000 rentable-square feet, situated on a 2.14-acre parcel. Cibolo Storage consists of nine single-story buildings featuring slab-on-grade concrete foundations, a combination of concrete block and metal construction, and R-panel metal roofing. The facility is equipped with perimeter barbed chain-link fencing, 24-hour video surveillance, keypad gate entry, and ample drive-up access. While the property does not include climate-controlled units, it benefits from strong local demand and limited nearby competition, making it an attractive acquisition for both institutional and private investors. The greater San Antonio metro—bolstered by its robust job creation, low cost of living, and strong in-migration trends—continues to be one of the fastest-growing markets in the country. The city’s population has grown over 35 percent since 2010, with median household income now exceeding $89,000 within a five-mile radius of the property. Major area employers include Valero, Capital One, and John B. Sanfilippo & Son, among others, offering a strong employment base that supports storage demand. Cibolo Storage also benefits from its proximity to Joint Base San Antonio–Randolph, a major military installation with nearly 15,000 active-duty personnel, civilian employees, and contractors. As a central hub for Air Force pilot training and military operations, the base drives consistent population and economic activity in the region. This stable demand base supports self-storage needs from military families, rotational personnel, and contractors, further reinforcing the property's long-term occupancy potential. Currently, the property operates at 84 percent physical occupancy, with in-place rental rates averaging $1.07 per square foot—significantly below many nearby competitors. Rent comparables in the area suggest upside of $0.20 to $0.50 per square foot, depending on unit size. A new owner has the potential to increase net operating income by adjusting under-market rents to match prevailing rates, enhancing ancillary income streams, and improving operational efficiency through third-party management. At a list price of $2,400,000, Cibolo Storage offers a compelling year-one cap rate of 8.27 percent, and a broker-adjusted year-five unleveraged return exceeding 10 percent. This asset presents an ideal opportunity for investors seeking stable in-place income with measurable upside potential in one of Texas’ most dynamic suburban markets.