Titan Self Storage
For sale3249 25th Street, Port Arthur, TX 77642
Unit / Space count
222
Price
$2,275,000
Occupancy
84.65%
Lot size
2.42 acres
Number of buildings
6
Property description
Titan Self Storage is a recently stabilized, cash-flowing facility in Port Arthur, Texas, offered at $2,275,000. The property sits on about 2.4 acres with six single-story masonry buildings, built between 1965 and 1978. It has a mix of climate-controlled and non-climate units and a few outdoor parking rentals. Owners have invested more than $86,000 since early 2023 in a new automatic gate, a new HVAC system, a full exterior paint job, upgraded lighting and security, and extensive roof repairs. Keypad entry, cameras, perimeter fencing, an on-site leasing office, and management software are in place, making it a good candidate for remote management. Seller financing is available, and the deal includes an adjacent tow lot that can be rented out, as it has been before, or used to build additional storage. The upside is in rates and lease-up. Current street rents trail the surrounding market, and the climate-controlled units still have meaningful vacancy, so a new owner has room to push rents and fill space. Competition in the immediate trade area is extremely limited. The surrounding population is stable and household incomes are solid. The demand story is tied to energy and industrial activity. Port Arthur is the refining capital of Texas, with Motiva, Valero, and other major employers nearby. Billions of dollars in LNG construction, including Port Arthur LNG and Golden Pass, are bringing thousands of workers into the area and creating demand for storage. The market is about 80 miles east of Houston in the Beaumont-Port Arthur MSA.
Property highlights
- Recently Stabilized Self Storage Facility Comprised of 54 Climate-Control Units Totaling 5,550 NRSF, 168 Non-Climate Units Totaling 26,350 NRSF, and 6 Outdoor Parking Rentals
- Extremely Limited Competition in the Immediate Trade Area Evidenced by a Market Saturation Rate of 3.0 Within Three Miles of the Facility
- Deal Includes Adjacent Tow Lot that Can Be Rented Out as Has Been Done Previously or Used for the Construction of Additional Storage Buildings
- Seller Financing Available. Contact Broker for Additional Details
- Low SF/Capita and Below Market Rates Bode Well for the Immediate Implementation of Existing Customer Rent Increases
- Facility is an Excellent Candidate for Remote Management With Automatic Gate, Keypad Entry, and Management Software Already in Place
- Over $86,000 Invested in Cap/Ex Improvements Since Early 2023 Including New Automatic Gate, New HVAC System, Full Exterior Paint Job, Upgraded Lighting & Security, and Extensive Roof Repairs
- Excellent Demographics Featuring a Population of 76,867 Residents and an Average Household Income of $78,164 Within Five Miles of the Property
- The Beaumont-Port Arthur MSA is Located Approximately 80 Miles East of Downtown Houston and is Home to 399,310 Residents
Broker of Record Ryan Bohls Texas BOR License No. 575430 Firm License No. 9013618 813-839-7300 FSIVS@FranklinSt.com FSFP Austin, LLC