13924-14024 Schmidt Rd
Cypress, TX 77429
Huffmeister Boat & RV Storage · Specialty Property For Sale · 44,407 SF

Huffmeister Boat & RV Storage is a 186 unit, 44,407 net rentable square foot (154 enclosed units) Boat and RV storage facility situated on 3.10 acres in Cypress, Texas. There is also 18,000 square feet of covered parking (31 units) that can accommodate large RVs and one outdoor parking space. The property has amenities such as a light and 110-volt outlets in each unit, swing doors, two gated entrances with manual locks and perimeter fencing. The property benefits from strong Cypress demographics. There are about 102,000 people living within three miles of the facility and the average household income is almost $106,000. The trade area has grown by nearly 15 percent in the last decade. The property sits about 2/10 of a mile from Huffmeister Road which is a busy corridor that connects with other major thoroughfares such as West Road, State Highway 6, US Highway 290 and Telge Road. The facility serves affluent areas such as Longwood, Coles Crossing and Stonegate. The financials are based on a trailing three month income due to the fact that ownership just constructed 6000 square feet of covered parking this year and had an across the board rental raise that took effect in June which has been well received. With a 7.53 percent unlevered day one return that includes adjusting the property taxes up to 75 percent of list price, Huffmeister Boat & RV Storage should be the picture of stability for an investor. There are HOA restrictions for storing boats and RVs in the surrounding neighborhoods which fuels new demand. Similar class Boat/RV storage facilities in the area are close to full occupancy and have consistently been that way through the years. Currently the occupancy rate on the enclosed units at Huffmeister Boat & RV Storage is 99 percent. The covered parking still has six vacancies, but that inventory is leasing up putting the overall physical occupancy at 96%.