One Storage Centre

83,600 NRSF | 619 Units | Killeen, TX (Killeen MSA)

Closed

Call for Offers:

March 17, 5:00 PM

INVESTMENT OVERVIEW

One Storage Centre is a self-storage facility consisting of 83,600 NRSF among 619 total units across 9 single story buildings and is situated on 6.52 AC of land. The facility consists of both climate control units and drive-up non-climate units, ranging from 25-300 SF. The property is impeccably constructed and well maintained. All roofs are standing seam. The property has cement drive isles with extra width to accommodate large trucks and trailers.  The facility also maintains 8 security cameras, an alarm system, automatic gates, and a high quality leasing office.

One Storage Centre is situated within the center of the Killeen MSA. Killeen is home to the Army’s Fort Hood, which maintains a population over 50,000. Killeen is growing at a rate of 1.89% annually and its population has increased by 25.56% since 2010. That growth can be seen in the amount of developments currently taking place, including a 370-unit luxury apartment complex being built less than a half mile from One Storage Centre. One Storage Centre currently maintains a physical occupancy of 96% and an economic occupancy of 75.7%. This illustrates the considerable amount of rate upside for a new operator to increase rents on in place tenants.

One Storage Centre allows a new operator the benefit of a well-managed and physically stabilized asset with a high level of upside in rate management.

Facility Summary

Property Name:                One Storage Centre

Address:                             1001 South WS Young Drive, Killeen, TX 76543

County:                              Bell

Total Land Area:              6.52 Acres +/-

Total NRSF:                       83,600 NRSF

Total Units:                        619

Non-Climate:                    438

Climate-Controlled:         175

Unit Sizes:                          50-300 SF

Physical Occupancy:       98%

Economic Occupancy:    75%

Buildings:                         9

Investment Highlights

  • 83,600 NRSF | 619 Total Units
  • Densely populated area with large 350-unit luxury multi-family development going in next door
  • Physical Occupancy of 96% and Economic Occupancy of 75.7%
  • Immediate Rental Rate Upside on in place Tenants