A Mini Storage

24,420 NRSF| 190 Units | Beaumont, TX (Beaumont MSA)

Under Contract

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INVESTMENT OVERVIEW

A Mini Storage offers an investor the opportunity to acquire a well-located self-storage facility with multiple upsides and other value add components. The facility is currently comprised of 135 Non-Climate Units, 47 Climate Controlled Units, and 4 Outdoor Parking Spaces, and 4 Office Storage Units for a total of 24,420 NRSF and 190 total units.

A Mini Storage currently maintains physical and economic occupancies of 64.43% and 51.31%, respectively, which indicates the ability for a new operator to realize more revenue through marketing and rate management. Furthermore, a new operator will be able to add tenant insurance and capitalize on other secondary sources of income.

The facility is advantageously located in the heart of the retail corridor in Beaumont, TX–one of the most affluent tertiary markets in East Texas and in the heart of the retail corridor and benefits from the high annual population growth rate of 1.4%. Furthermore, the facility benefits from strong median and average household incomes of $40,738 and $66,813 respectively, within a three-mile radius, and excellent population density within the same trade area.

This asset, impeccable location, multiple upsides and solid demographic fundamentals will allow a new investor to add value through management, marketing, tenant insurance and the ability to expand on the property.

Facility Summary
Address:            575 I-10 S, Beaumont, TX 77701
 
County:              Jefferson
 
Land Area:         2.15 AC +/-
 
NRSF:                  24,420 NRSF 
 
Units:                  190 (44 CC | 112 NC | 97 Parking)
 
Occupancy:        64.43% (Units) | 72.90% (Area) | 51.31% (Economic)
 
Unit Sizes:          25-1200 SF
 
Buildings:          7 Single Story Self Storage
  
Built:                  1975
 
Investment Highlights:
  • 24,420 NRSF | 190 Units
  • Huge management upside potential
  • Significant opportunity to boost revenues by adding and improving upon secondary income streams such as tenant insurance, increased retail sales, and truck rentals