775 Fm 2264Decatur, TX 76234

For Sale
$4,000,000

High-Yield Storage & Rental Complex

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional mixed-use property in Decatur, Texas, presents a lucrative investment opportunity. Encompassing 19,000 square feet on an 11.9-acre lot, the property features 98 mixed-sized storage units housed in two buildings (one with 14' ceilings, the other with 8'-12' ceilings), 15 tiny homes, and three duplexes—all currently generating income. Building 1 includes a contractor suite and boat/RV storage. The storage units, many climate-controlled, are situated on 1.33 fenced acres with expansion potential for additional 10x10 units. Five truck parking spaces are available, with four currently rented. The property is conveniently located approximately one mile from Landmark Industrial Park and Eagles Landing Business Park, just outside Decatur city limits. All tiny homes are occupied, and the storage units currently operate at 40% capacity, projecting a 10% cap rate at full occupancy. The property boasts a website and automated system, and the seller will consider all reasonable offers. The estimated gross monthly income at full capacity is approximately $43,000. Six additional development spots are available with existing sewer, water, and power, offering significant expansion potential. Annual property taxes are $28,368, and annual insurance for the storage facility is $5,357. Monthly expenses include $228 for software and hosting and an average of $424 for electricity. The seller currently pays 10% of income to a management company. This turnkey operation offers immediate income and substantial growth potential.

Highlights

  • 40% occupancy in storage units, 100% occupancy in rental units.
  • 7% current cap rate, projected 10% cap rate at full storage occupancy.
  • $43,000 projected monthly gross income at full occupancy.
  • Six buildable lots across from duplex with existing utilities (sewer, water, power).
  • 10% management fee; $12,347 annual storage unit taxes; $28,368 annual property taxes; $5,357 annual storage insurance; $228 monthly software/hosting fees; $424 average monthly electric cost.
  • Seller will consider all reasonable offers.

Property Details for 775 Fm 2264

Property type
Multifamily properties, Other mixed-use properties
Square Feet
19,000 SF
Year Built
2023
Buildings
20
Lot Size (sq. ft)
518,364 SF
Units
98

Location Insight

City
Decatur
County
Wise
State
Texas
Latitude
33.196319114551
Longitude
-97.539470631535
775 Fm 2264, Decatur, Texas

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775 Fm 2264
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