Self-Storage Facility

Life Storage (Managed)

Listing Price: Request For Offer

Number of Units
534
Occupancy
39.12%
Gross SF
66,338
Rentable SF
66,338
Year Built
2018

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Life Storage (Managed) in San Antonio, Texas. The facility is located approximately 16 miles northwest of downtown San Antonio at the intersection of Culebra Road and Galm Road with convenient access to busy thoroughfares such as Loop 1604 and future expansion of State Highway 211.

Consisting of 66,338 net rentable square feet on 2.51 acres, the facility contains 534 total units, of which 518 are climate controlled units ranging from 25 square feet to 300 square feet. The subject property also has 16 non-climate units ranging from 50 square feet to 200 square feet. In addition, there is an approximately 31,000 square foot pad site fronting Galm Road offered in the sale which provides additional room for further facility expansion. As of February 2020, the property had overall physical occupancy of 55 percent, allowing an investor to benefit from the continuation of lease-up activity. The subject currently offers below market rates on selected units, and maintains 88 percent physical occupancy for non-climate units, presenting an immediate opportunity to grow revenue from existing tenants. The facility is fenced, gated and lighted for safety and security, has numerous architectural finishes throughout and two elevators providing access to the upper floors. The property also offers concrete drives and parking surfaces throughout which can be easily maintained. Finally, solar panels were recently installed in order to lower utility expenses.

Life Storage offers excellent visibility from both Culebra Road and Galm Road. Culebra Road experiences average daily traffic count in excess of 24,000 vehicles, while Galm Road has over 2,300 vehicles per day. In addition, the subject is four miles from Loop 1604. The facility is situated in a high-growth corridor and is within close proximity to several residential zones, Northside Independent School District schools and national-retailers. For example, the vacant pad site with frontage on Culebra Road will be the home of a Whataburger restaurant in the future. Total population within a 3-mile radius grew over 81 percent between 2010 and 2018. Likewise, total households exploded from 2010 to 2018, nearly doubling from 6,913 to 12,635. Estimates show the population growing nearly another 17 percent by 2023.

Investment Highlights

  • Exploding Northwest Submarket of San Antonio
  • 66,338 Net Rentable Square Feet
  • Room for Expansion Offered With Sale
  • Built in 2018

Exclusively Listed By

Self-Storage Facility

Life Storage (Managed)

Listing Price: Request For Offer

Number of Units
534
Occupancy
39.12%
Gross SF
66,338
Rentable SF
66,338
Year Built
2018

Investment Highlights

  • Exploding Northwest Submarket of San Antonio
  • 66,338 Net Rentable Square Feet
  • Room for Expansion Offered With Sale
  • Built in 2018

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Life Storage (Managed) in San Antonio, Texas. The facility is located approximately 16 miles northwest of downtown San Antonio at the intersection of Culebra Road and Galm Road with convenient access to busy thoroughfares such as Loop 1604 and future expansion of State Highway 211.

Consisting of 66,338 net rentable square feet on 2.51 acres, the facility contains 534 total units, of which 518 are climate controlled units ranging from 25 square feet to 300 square feet. The subject property also has 16 non-climate units ranging from 50 square feet to 200 square feet. In addition, there is an approximately 31,000 square foot pad site fronting Galm Road offered in the sale which provides additional room for further facility expansion. As of February 2020, the property had overall physical occupancy of 55 percent, allowing an investor to benefit from the continuation of lease-up activity. The subject currently offers below market rates on selected units, and maintains 88 percent physical occupancy for non-climate units, presenting an immediate opportunity to grow revenue from existing tenants. The facility is fenced, gated and lighted for safety and security, has numerous architectural finishes throughout and two elevators providing access to the upper floors. The property also offers concrete drives and parking surfaces throughout which can be easily maintained. Finally, solar panels were recently installed in order to lower utility expenses.

Life Storage offers excellent visibility from both Culebra Road and Galm Road. Culebra Road experiences average daily traffic count in excess of 24,000 vehicles, while Galm Road has over 2,300 vehicles per day. In addition, the subject is four miles from Loop 1604. The facility is situated in a high-growth corridor and is within close proximity to several residential zones, Northside Independent School District schools and national-retailers. For example, the vacant pad site with frontage on Culebra Road will be the home of a Whataburger restaurant in the future. Total population within a 3-mile radius grew over 81 percent between 2010 and 2018. Likewise, total households exploded from 2010 to 2018, nearly doubling from 6,913 to 12,635. Estimates show the population growing nearly another 17 percent by 2023.

Exclusively Listed By

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