3316 Hansboro Ave
Dallas, TX 75233
U-Store All Hansboro · Specialty Property For Sale · 38,800 SF

Oak Cliff Bargain Storage is a 38,800 net-rentable-square foot facility resting on approximately 2.33 acres in Dallas, TX. The facility was built in 1973 and underwent major renovations and improvements in 2015. It features a newly remodeled on-site manager’s residence, modern office and showroom, garage-style roll up doors, concrete block construction, wide driveways, 16 video surveillance cameras, perimeter fencing, personalized key-pad gated entry, and solar-powered, motion-activated lighting. Comprised of 297 non-climate drive-up storage units ranging in size from 40 to 300 square feet, the facility’s occupancy is largely a byproduct of the excellent visibility that its strategic location off S. Westmoreland Road provides, upon which approximately 25,000 vehicles travel each day. Offered for $3,000,000, a new investor will be purchasing the stabilized turn-key asset for a 6.51 percent Year One Cap Rate. Upon acquisition, a new operator will be in a unique position to build off the success that the facility has experienced since the current owner took over in 2015. To be sure, the property’s monthly revenues have increased over 100 percent in the past two years, bolstered in part by its healthy competitive landscape (only 4.87 square feet of storage supply per capita currently exists within a 3-mile radius) and highly attractive location (from both a visibility and accessibility perspective). Furthermore, Bargain Storage is 98.2 percent physically occupied (as of 01.11.17) and has rental rates well below submarket averages, suggesting a new operator will easily be able to systematically raise rental rates and increase profitability for years to come. This opportunity has been highlighted in the Pro Forma Unit Mix on pg. 17. In addition to raising rental rates, a new operator could immediately increase revenues through the implementation of a tenant insurance program and the sale of retail goods such as packing supplies and disc locks.