Self-Storage Facility

Amadco Self Storage

16161 US-377, Fort Worth, TX 76126

Listing Price: $1,150,000

Cap Rate
3.69%
Number of Units
112
Occupancy
84.04%
Gross SF
31,305
Rentable SF
31,305
Price/Rentable SF
$36.74
Year Built
2003

Investment Overview

Amadco Self Storage is a 31,305-rentable-square foot self-storage facility resting on three parcels encompassing approximately 10.01 acres in Fort Worth, TX. Built in 2003 and later expanded in 2009, the facility is comprised of 11 climate-controlled units, 65 non-climate drive up units, and 36 covered boat and RV units. Additionally, it features an on-site managers office, garage-style roll up doors, personalized key-pad gated entry, perimeter fencing and lighting, and wide driveways.

Amadco Self Storage's physical occupancy is largely a byproduct of the excellent visibility and accessibility that its strategic location on US 377 provides, upon which approximately 23,000 vehicles travel each day. Additionally, demand for storage particularly boat and RV storage continues to swell as the submarket's population has grown more than 20 percent since 2000. To be sure, the facility sits in the ideal location for potential tenants wishing to store boats and RVs, as US 377 is the main thoroughfare from Fort Worth to Lake Granbury, approximately 15 miles to the southwest. Furthermore, Benbrook Lake is situated less than five miles to the northeast of the property.

Offered for $1,400,000, a new investor with be purchasing the stabilized asset for a broker-adjusted 3.03 percent year-one cap rate. Additionally, the facility's historically high occupancy as well as the growth trends associated with the submarket in which it operates suggest a new operator will have ample opportunity to both expand the property with boat and RV storage and grow revenue via timely rate increases. To be sure, rental rates are approximately 24 percent below submarket averages. The facility is also located outside of Fort Worth city limits, suggesting any future expansion will likely be less difficult for the developer.

Investment Highlights

  • Rental Rates Well Below Submarket Averages
  • 20 Percent Population Growth in Submarket since 2000
  • Excellent Visibility and Accessibility on US 377 23,000 Vehicles per Day
  • Situated on Approximately 10 Acres Significant Opportunity for Storage Expansion

Exclusively Listed By

Self-Storage Facility

Amadco Self Storage

Listing Price: $1,150,000

Cap Rate
3.69%
Number of Units
112
Occupancy
84.04%
Gross SF
31,305
Rentable SF
31,305
Price/Rentable SF
$36.74
Year Built
2003

Investment Highlights

  • Rental Rates Well Below Submarket Averages
  • 20 Percent Population Growth in Submarket since 2000
  • Excellent Visibility and Accessibility on US 377 23,000 Vehicles per Day
  • Situated on Approximately 10 Acres Significant Opportunity for Storage Expansion

Investment Overview

Amadco Self Storage is a 31,305-rentable-square foot self-storage facility resting on three parcels encompassing approximately 10.01 acres in Fort Worth, TX. Built in 2003 and later expanded in 2009, the facility is comprised of 11 climate-controlled units, 65 non-climate drive up units, and 36 covered boat and RV units. Additionally, it features an on-site managers office, garage-style roll up doors, personalized key-pad gated entry, perimeter fencing and lighting, and wide driveways.

Amadco Self Storage's physical occupancy is largely a byproduct of the excellent visibility and accessibility that its strategic location on US 377 provides, upon which approximately 23,000 vehicles travel each day. Additionally, demand for storage particularly boat and RV storage continues to swell as the submarket's population has grown more than 20 percent since 2000. To be sure, the facility sits in the ideal location for potential tenants wishing to store boats and RVs, as US 377 is the main thoroughfare from Fort Worth to Lake Granbury, approximately 15 miles to the southwest. Furthermore, Benbrook Lake is situated less than five miles to the northeast of the property.

Offered for $1,400,000, a new investor with be purchasing the stabilized asset for a broker-adjusted 3.03 percent year-one cap rate. Additionally, the facility's historically high occupancy as well as the growth trends associated with the submarket in which it operates suggest a new operator will have ample opportunity to both expand the property with boat and RV storage and grow revenue via timely rate increases. To be sure, rental rates are approximately 24 percent below submarket averages. The facility is also located outside of Fort Worth city limits, suggesting any future expansion will likely be less difficult for the developer.

Exclusively Listed By

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