Listed by VERSAL - Bellomy
$6,800,000
Corpus Christi Storage Portfolio
Details
APN 187191; 249864; 272880; 272862
Property Type Industrial
Sub Type Warehouse, Refrigerated/Cold Storage
Square Footage 123,950
Units 869
Occupancy 78%
Pro-Forma NOI $418,103
Price per SqFt $55
Year Built 1973, 1978, 1979, 1981, 1992
Buildings 25
Acreage 7.650
Industrial | 123,950 SqFt
Marketing description
The Corpus Christi Storage Portfolio is a 3-property
portfolio located at 4066 Crosstown Expy, 4125 Brett St,
and 3817 Wow Rd in Corpus Christi, TX. The properties
are conveniently located within a short drive of each
other near the center of Corpus Christi.
The properties have been family owned and operated since they were developed in the 1980's and 1990's. The family does not utilize any sophisticated management practices, does minimal advertising, and has not managed rental rates or occupancy. This portfolio presents an excellent opportunity for a new owner to increase revenue through improved management practices.
The portfolio consists of 62 climate-controlled units and 807 non-climate-controlled units totaling 123,950 NRSF. The average unit size is 143 NRSF, and the portfolio is currently 78% occupied.
The properties are all well located in the core of Corpus Christi. Major retailers like The Home Depot, McDonald's, H-E-B, and Walmart are all within a short distance. Also nearby is Texas A&M Corpus Christi (10,700 student population) and Naval Air Station Corpus Christi. Downtown Corpus Christi is only 3.5 miles away from the Crosstown Mini Storage facility. A 5-mile radius around the properties includes an average population of 191,828 with an average household income of $85,331.
Construction highlights include metal and steel construction, asphalt drives, on-site offices and apartments, perimeter fencing, and security features.
The Corpus Christi Storage Portfolio is being listed for sale at $6,800,000 ($55/NRSF).
Investment highlights
- $6,800,000 ($55/NRSF)
- 3-Property Portfolio
- Family Owned & Operated
- Significant Management Upside
- 869 Units, 123,950 NRSF
- 78% Occupancy
- Corpus Christi, TX
- 191,828 Average Population Within 5 Miles
- $85,331 Average Household Income Within 5 Miles
- +/- 4 Miles Between Properties
- 4.5 Miles from Texas A&M Corpus Christi
- 5.4 Miles from Downtown Corpus Christi
Listing Contacts
Listed by VERSAL - Bellomy
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