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23187055
23187068

1420 S 21st St, Nederland, TX 77627

CR
TX TX 398667
CSD Realty Company
CR
TX 688975
CSD Realty Company
Listed by CSD Realty Company
$630,000
402 days on market
Updated 109 days ago

Nederland Premier Storage

Details
Property Type Self Storage
Square Footage 10,560
Net Rentable (SqFt) 10,200
Units 57
Cap Rate 6.37%
NOI $40,132
Occupancy 96%
Pro-Forma Cap Rate 9.4%
Pro-Forma NOI $59,200
Price per SqFt $60
Broker Co-Op No
Class B
Year Built 2007-2010
Year Renovated 2010
Buildings 5
Stories 1
Acreage 0.570
Investment Type Value Add
Ground Lease No
Ownership 100%
Sale Condition For sale by owner

Self Storage | 96% Occupied

Marketing description

Nederland Premier Storage is a 57 unit, 10,200 NRSF self-storage investment opportunity at 1420 S. 21st St., Nederland, Texas. This .57 acre site sits less than a mile from the intersection of S. 21st St. and FM 365 which sees as many as 24,000 passing vehicles per day (Per TxDOT). Nederland is a well-located suburb in the middle of the “Golden Triangle” of Texas which refers to the broader market formed by the cities of Beaumont, Port Arthur and Orange. The Golden Triangle is the petrochemical capital of the Texas and is home to over 400,000 residents, more than 85,000 of which are living within 5 miles of the subject property.

Constructed between 2007 and 2010, Nederland Premier Storage is an immaculately maintained self storage facility that has been “mom and pop” operated since its inception. The 5 metal-over-steel buildings feature a mix of 10x10 and 10x20 non-climate controlled units. The all-concrete facility is mostly fenced and gated with 24/7 keypad access and security camera surveillance. Additionally, the facility is well-lit and features concrete ballards which protect the structures from vehicles.

The current owners manage the property remotely with very little headache thanks to Easy Storage Solutions management software and answering service. Rental rates have rarely been raised through their ownership tenure which provides the next owner with an immediate opportunity to raise revenue. Additionally, revenue can be increased by instituting mandatory tenant insurance for new customers and charging app/admin fees.

Investment highlights

  • 96% Physical Occupancy

  • Owners Have Rarely Raised Rental Rates

  • All Concrete Foundations and Drives

  • Metal-Over-Steel Building Construction

  • Automatic Gates with Keypad Access

  • 24/7 Security Camera Surveillance

  • Excellent Lighting Throughout the Facility

  • 85,000+ Population Within 5 Miles

  • Average Household Income of $90k+

  • Only 9.6 NRSF of Total Storage Per Capita

  • 24,000 Vehicles Per Day on FM 365

  • Abundance of Retail & Hospitality Nearby

  • Across 21st St. from Heritage Town Center

  • Located at Entrance of Allan Court Subdivision

Listing Contacts

CR
TX TX 398667
CSD Realty Company
CR
TX 688975
CSD Realty Company
Listed by CSD Realty Company

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$40,132.00
$3,344.33/mo

Valuation Metrics

0
DSCR
6.37%
Cap Rate
6.37%
ROI

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Additional Information

Name
Craig Rice
License
TX 398667
Brokerage
CSD Realty Company
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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