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50 N 13th St - Lone Star Storage 36,000 SF Specialty Building Offered For Sale in Beaumont, TX 77702
INVESTMENT HIGHLIGHTS
- MASSIVE UPSIDE POTENTIAL // Achieving an economic occupancy of 64 % at market street rates, an investor could see an End of Year 2 Cap Rate over 13%
- BEAUMONT, THE HUB CITY OF THE GOLDEN TRIANGLE // The facility is close to the Port of Beaumont which is the fourth largest port in the United States
- INFILL LOCATION // The facility is situated less than two miles from downtown Beaumont and features a trade area of close to 60,000 people.
- FACILITY AMENITIES // On-site manager’s office, concrete drives, roll-up doors, chain-link fencing, digital key-code access, and video surveillance.
EXECUTIVE SUMMARY
PROPERTY PAGE: https://leclaireschlossergroup.com/listing/lone-star-storage-in-beaumont-tx/
Lone Star Storage is a 182-unit, 36,000 square foot facility located in Beaumont, Texas. The facility sits on approximately 2.44 acres of land. The property consists of seven single-story buildings containing 179 drive-up non-climatized units and two covered parking spaces. Amenities found at this infill location include, an onsite manager’s office, concrete drives, many units with roll-up doors, chain-link fencing with digital keycode access gate, and 24/7 video surveillance throughout the property.
Lone Star Storage sits less than two miles west of downtown Beaumont in a busy area that is in between Interstate 10 and 11th Street, which are two major arteries in this area of Beaumont. The facility sits in a trade area of nearly 60,000 people and the average household income is around $75,000.
Lone Star Storage is a quintessential value add opportunity. The property is around 70 percent physically occupied. There is one building (10 units/1000 NRSF) that needs new doors and partitions and the owner estimates a CAPEX budget of around $25,000. By achieving an economic occupancy of 64 percent at market street rates, an investor could see an End of Year Two Cap Rate of over 13 percent.
Lone Star Storage is a 182-unit, 36,000 square foot facility located in Beaumont, Texas. The facility sits on approximately 2.44 acres of land. The property consists of seven single-story buildings containing 179 drive-up non-climatized units and two covered parking spaces. Amenities found at this infill location include, an onsite manager’s office, concrete drives, many units with roll-up doors, chain-link fencing with digital keycode access gate, and 24/7 video surveillance throughout the property.
Lone Star Storage sits less than two miles west of downtown Beaumont in a busy area that is in between Interstate 10 and 11th Street, which are two major arteries in this area of Beaumont. The facility sits in a trade area of nearly 60,000 people and the average household income is around $75,000.
Lone Star Storage is a quintessential value add opportunity. The property is around 70 percent physically occupied. There is one building (10 units/1000 NRSF) that needs new doors and partitions and the owner estimates a CAPEX budget of around $25,000. By achieving an economic occupancy of 64 percent at market street rates, an investor could see an End of Year Two Cap Rate of over 13 percent.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 2.44 AC |
| Property Type | Specialty | Building Size | 36,000 SF |
| Property Subtype | Self-Storage | No. Stories | 1 |
| Building Class | C | Year Built | 1973 |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 2.44 AC |
| Building Size | 36,000 SF |
| No. Stories | 1 |
| Year Built | 1973 |
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50 N 13th St - Lone Star Storage
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