4931 Allen Genoa Rd
Pasadena, TX 77504
Jumbo Storage · Specialty Property For Sale · 38,250 SF

Jumbo Self Storage is being offered as an "add-value" investment opportunity for the Self Storage investor. The facility has been self managed and self operated for many years with no outstanding debt. The facility currently comprises 180 Units all measuring approximately 11 x 24; hence the name; "Jumbo Self Storage". The facility historically has had an occupancy in the high 90's if not 100% with below market rents. As of February 1, 2019 the rents for all units have been increased by $5.00 per unit and they're still below the competition and experienced no significant occupancy decline after the rent increase! Not only does Jumbo offer excellent initial investment returns; but also offers an add-value component thru building on the outside parking and unimproved land area. The estimated increase in Net Rentable Square Feet is between 6,000 to 15,000 additional rentable footage. Currently Jumbo Self Storage is using the additional land as "Open Parking" and has approximately 34 Units/Spaces being rented as well. The last component that makes Jumbo Self Storage a very unique investment opportunity is the ability to lock in a below market fixed interest rate at 5.5%, amortized over 25 years, with a 10 year term. The interest rate is below market and the Seller is requesting only 17% down but will accept up to 20% down. Seller is also requesting a "lock out" period on the Seller Financing note for the first 8 years. If the note is paid off, the Seller is requesting the interest between what is earned thru the pay off and what would have been earned thru the initial 8 year term to be paid at payoff. The term of the note is 10 years and at the maturity date can possibly be refinanced by the current owners or a new note can be acquired. The "initial" Cap Rate based upon Seller's actuals on Day one is a whopping 10.77%+ Cap Rate, ~ 28% Cash on Cash Return, and a Total Overall Return of nearly if not at 37.63%. With the unimproved area, "special" Seller Financing, AND below market rents, frankly this is a "no-brainer" and the returns mitigate any perceived risks that a Buyer may construe. MOVE VERY QUICK if you're serious and interested because this investment will be snapped up FAST !!! DO NOT GO ON SITE WITHOUT CONTACTING ROGER L. HENDRICKS AND SETTING AN APPOINTMENT FOR A SITE VISIT. TENANTS ARE NOT TO BE DISTURBED FOR ANY REASON NOR APPROACHED !!! IF you enter the premises without a scheduled appointment you can disregard attempting to purchase this.....per the Seller's.