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Self-Storage Facility

Absolute Stor-N-Lok

1607 Matthews Ln, Austin, TX 78745

Listing Price: $3,000,000

Cap Rate
2.57%
Number of Units
165
Occupancy
74.0%
Gross SF
16,642
Rentable SF
16,642
Price/Rentable SF
$180.27
Year Built
1985

Investment Overview

Marcus & Millichap is pleased to offer for sale Absolute Stor - N - Lok in Austin, Texas. The property features 109 non-climate controlled units ranging in size from 50 square feet to 1,500 square feet, 7 office/warehouse spaces ranging in size from 216 square feet to 1,375 square feet and 49 parking spaces. With a total of 1.46 acres of land and current rental rates 52% below the market rates the subject property offers an investor multiple opportunities to reposition this property with increasing rental rates, redevelopment opportunity and adding additional revenue streams. Property amenities include asphalt driveways, lighting for security, gated entry and chain-link fencing around the perimeter of the property. Located in a very desirable area in South Austin, this property is surrounded by existing residential neighborhoods. Travis County, Texas's estimated population is 1,328,720 with a growth rate of 2.10% in the past year according to the most recent United States census data. Travis County, Texas is the 6th largest county in Texas. The greater Austin-Round Rock area has about 2.3 million people, and the city of Austin is one of the fastest-growing places in the United States. The University of Texas at Austin is a tier-one research institution and one of the largest colleges in the United States, with about 50,000 students. As such, Austin has a robust economy and has been ranked in the top 20 on the Forbes Magazine list of the Best Places for Business and Careers. The Wall Street Journal also ranked the area number one for growing businesses. With the inflow of new residents to Austin, a developer can take advantage of the demand for new self-storage supply in the area.

Investment Highlights

  • Redevelopment Opportunity
  • 1.46 Ares in the Heart of South Austin
  • 52% Below Market Rental Rates

Exclusively Listed By

Self-Storage Facility

Absolute Stor-N-Lok

Listing Price: $3,000,000

Cap Rate
2.57%
Number of Units
165
Occupancy
74.0%
Gross SF
16,642
Rentable SF
16,642
Price/Rentable SF
$180.27
Year Built
1985

Investment Highlights

  • Redevelopment Opportunity
  • 1.46 Ares in the Heart of South Austin
  • 52% Below Market Rental Rates

Investment Overview

Marcus & Millichap is pleased to offer for sale Absolute Stor - N - Lok in Austin, Texas. The property features 109 non-climate controlled units ranging in size from 50 square feet to 1,500 square feet, 7 office/warehouse spaces ranging in size from 216 square feet to 1,375 square feet and 49 parking spaces. With a total of 1.46 acres of land and current rental rates 52% below the market rates the subject property offers an investor multiple opportunities to reposition this property with increasing rental rates, redevelopment opportunity and adding additional revenue streams. Property amenities include asphalt driveways, lighting for security, gated entry and chain-link fencing around the perimeter of the property. Located in a very desirable area in South Austin, this property is surrounded by existing residential neighborhoods. Travis County, Texas's estimated population is 1,328,720 with a growth rate of 2.10% in the past year according to the most recent United States census data. Travis County, Texas is the 6th largest county in Texas. The greater Austin-Round Rock area has about 2.3 million people, and the city of Austin is one of the fastest-growing places in the United States. The University of Texas at Austin is a tier-one research institution and one of the largest colleges in the United States, with about 50,000 students. As such, Austin has a robust economy and has been ranked in the top 20 on the Forbes Magazine list of the Best Places for Business and Careers. The Wall Street Journal also ranked the area number one for growing businesses. With the inflow of new residents to Austin, a developer can take advantage of the demand for new self-storage supply in the area.

Exclusively Listed By

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