$1,760,000 | Store It All – Kingwood | Houston, TX

Description

The Colliers Self Storage Group is pleased to exclusively offer to qualified investors the opportunity to purchase Store It All Self Storage located at 22200 US-59 North in Kingwood, Texas.  This facility has entrances on both US-59 and 494, providing direct access to over 154,000 vehicles per day.

Store It All is an adaptive reuse of a two-story former fitness center that was originally constructed in 1974 and converted into self-storage in the late 1990s.  Sitting on approximately .7859 acres, this facility offers tenants 19,504 rentable square feet and 227 units, ranging in size from 3’x5’ to 13’x20’.

Kingwood is a master-planned community located in northeast Houston.  It was established in 1971 and is the largest master-planned community in Harris County.  The 5-mile population is an extremely dense 147,101 individuals which is forecast to continue growing by 3.8% over the next 4 years. According to Yardi, the saturation within five miles is calculated at 14.44 sf per capita, with just 5.28 sf per capita of climate-controlled space.

Store It All offers its tenants excellent amenities, including an access-controlled loading area with a sliding gate and keycode access, a professionally appointed management office, 10 video surveillance cameras, motorized freight lift, asphalt drive aisles, and motion-activated lights throughout the property.

With an asking price of $1,760,000 and just $90.24 psf, Store It All is being offered well below replacement cost. This asset is being offered at a stabilized 7.01% cap rate and there is a potential for seller financing.  This is a perfect investment for new investors in the sector or who can operate this as an annex due to having other facilities nearby.  This facility provides the investor both a stable in-place revenue stream as well as multiple opportunities to create value.

Texas Broker of Record: Danny Rice – Colliers Houston