Mixed Commercial & Self Storage 7.5 CAP For Sale

Not Disclosed, TX
Rockwall County

Rockwall County TX

Asking Price: Annual Revenue:
$1,775,000 Not Disclosed

Commercial Real Estate: Industrial, Warehouse

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RE: Mixed Commercial & Self Storage 7.5 CAP For Sale Broker: Erin Bonner

Quick Facts

Asking Price: $1,775,000
Annual Revenue: Not Disclosed
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Mid-Southwest U
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 1866076
Broker Reference #: EB2008

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Business Overview:

Property is a mixed-use commercial/industrial property including self-storage units (inside and outside storage). The self-storage is 49% of the income. The balance is from other office/warehouse (shop) tenants etc.– some who have been there for quite awhile.

Sales and earnings have been on an upward trend for several years. Annualized proforma income of $167,304 less a 10% vacancy allowance = $153,238 based on current owner management and actuals 2019. The 2019 actual cash flow does not include the rental of two offices which was leased for the first time as of 8/1/19 and 2/1/2019.

Current vacancy is currently approximately 8% overall, including the non-storage other use buildings. (The self-storage portion is currently greater than 10% which is unusual, but recently, the Property owner may go 3 months without visiting the site and has no marketing)

The bulk of this storage business is online, with auto charge to credit cards or automatic monthly bank drafts -over 95% of the tenants.

2019 TYPE OF FINANCIAL: Internal

Call Broker for further info. Seller requires a CA/NDA to be signed by prospective buyers prior to sending the address or other information.

PRINCIPALS ONLY PLEASE for this specific property per request of Seller. Broker represents the Seller only. However, a Buyer has the right to hire and pay its own Broker.

This listing constitutes neither a solicitation to buy nor an offer to sell securities. This is a real estate transaction.

Listing Broker for Real Estate: ERIN BONNER LREB ; Contact Erin for the NDA.

Texas law requires licenses to provide the Texas Real Estate Information About Brokerage Services found at: http://www.libertyexchange.com/commercialrealestate.shtml (paste the foregoing into your browser). The Texas Real Estate Commission Consumer Protection Notice can also be found at the same foregoing link.

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Property Features and Assets:

* +/- 74,923 Square Feet OR +/- 1.72 AC to the Land Per DCAD. +/- 12,500 Square Feet Buildings plus outside storage. Built 2007 and 2011 This commercial & basically mixed-use industrial property includes self-storage, is fully fenced and has a security access gate. Steel frame units with overhead door on concrete slabs with concrete driveways. Property attributes approximately 49% of its income to Self Storage units with the other 51% from other building rentals of larger spaces and another bldg. which tend to have a low turnover.

Market Competition and Expansion:

As the area grows and more residents choose to downsize, the need for self-storage will continue to grow. The real estate is situated in an area where buy and hold can be beneficial. Other properties have in the immediate area have recently sold for more, just for the land. GROWTH POTENTIAL & EXPANSION - New ownership could set up a website and offer faster service to tour the site with prospective tenants to keep the mini-storage portion more consistently full. It is set up currently to where the tenants can sign up for a space on line without the owner going to the facility.

Reason for Selling:

Wants to build one closer to home.

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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