24365 Tx-124Hamshire, TX 77622

For Sale
$2,100,000

High-Yield Self Storage Investment

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 2022-built self-storage facility in Hamshire, Texas, presents a compelling investment opportunity. Boasting 30,000 net rentable square feet across two single-story buildings situated on a 3.96-acre lot, this property includes 15,000 square feet of climate-controlled units, 13,500 square feet of covered boat/RV parking, and 1,500 square feet of flexible space. The property features 164 units and benefits from an existing NOI of $46,735 and a pro-forma NOI of $207,134, resulting in a 9.86% cap rate. Significant upside potential exists through lease-up, stabilization, and rent increases. Located on Texas Highway 124, with 4,618 vehicles passing daily, the property enjoys excellent visibility and benefits from a lack of competition within a five-mile radius. The surrounding area boasts a strong average household income exceeding $113,288 within five miles. Furthermore, the property includes approximately one acre of expansion land, allowing for future development. This prime location near Beaumont (population over 340,000) and the Houston suburbs (population over 3,000,000) offers exceptional growth potential. The asking price is $2,100,000. Jefferson County APN: 016041-000-000100-00000; 016041-000-000200-00000.

Highlights

  • New construction self-storage facility totaling 30,000 square feet, including 15,000 square feet of climate-controlled units, 13,500 square feet of covered boat/RV parking, and 1,500 square feet of flex space.
  • 3.96-acre site with approximately one acre of expansion land.
  • Significant upside potential through lease-up, stabilization, and rent increases.
  • No competing storage facilities within five miles.
  • Strong demographics: average household income over $113,288 within five miles.
  • High visibility on Texas Highway 124 (4,618 vehicles per day).

Property Details for 24365 Tx-124

Property type
Self storage facilities, Industrial properties
Year Built
2022
Buildings
2
Stories
1
Lot Size (sq. ft)
172,498 SF
Units
164

Location Insight

City
Hamshire
County
Jefferson
State
Texas
Latitude
29.8613482
Longitude
-94.3044414
24365 Tx-124, Hamshire, Texas

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24365 Tx-124
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