CubeSmart Self Storage (Managed)
For saleUnder contract1301 La Salle Ave, Waco, TX 76706
$6,500,00071,350 SF
Self Storage$91/SF1999
Property type
Self Storage
Price
$6,500,000
Rentable area
71,350 SF
Year built
1999
Occupancy
76.4%
Lot size
9.11 Acres
Number of buildings
14
CAP
6.43%
Price per SF
$91.10
Property description
Broker Of Record Ryan Bohls Texas BOR License No. 575430 Firm License No. 9013618 813-839-7300 FSIVS@FranklinSt.com FSFP Austin, LLC
Property highlights
- Value-Add Self Storage Facility Comprised of 50 Climate-Control Units Totaling 4,475 NRSF, 575 Non-Climate Units Totaling 66,875 NRSF, and 108 Outdoor Parking Rentals.
- Facility Sits on 9.11-Acre Lot With Ample Room for the Construction of Additional Storage Buildings.
- Opportunity to Increase Revenue Through Lease Up, Stabilization, and the Implementation of Existing Customer Rent Increases.
- Secure, Turnkey Facility With Security Cameras, Automatic Gate, Keypad Entry, and Management Software Already in Place.
- 2023-2024 Cap/Ex Improvements Include Upgrades to Parking Areas, Fencing, Gates, Cameras, and Lighting, as well as Renovations of the Office and Manager's Apartment.
- Dense and Growing Population of 123,986 Residents Within Five Miles of the Property.
- Nearby Lake Waco and the Surrounding Campgrounds Provide Steady Demand for Outdoor Boat & RV Parking Space Rentals.
- Waco is Located in Central Texas in Between Dallas and Austin and is Home to 147,788 Residents.
- The Waco MSA is the 12th Largest in the State of Texas and is Home to 308,807 Residents.