712-Unit Self-Storage
11550 Forest Central Dr, Dallas, TX 75243
For Sale
New
$20,000,000
Six storage buildings are accompanied by a two-story office and manager’s residence.
Property Size71,535 SF
Lot Size4.29 Acres
Price / SF$279.58
Days on Market2
Property Features for 11550 Forest Central Dr
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Financials
Asking Price
Cap Rate
Site & Location
Neighborhood
Highway Access
Fenced Yard
Additional Details
Self-Storage Units
Currently Operating
Property Use
Amenities
Infill Location w/ High Barriers-to-Entry in Heart of Dallas, TX
Only 13 RSF / Capita w/in 3-Mile Radius
Situated Virtually Adjacent to N Central Expy – 230,000 VPD
More than 160,000 Residents w/in 3-Mile Radius
Access Provided via Forest Ln – 50,000 VPD
Convenient Location Next to Home Depot
Effective Rent of $1.94 / Occ RSF (Sept. 26)
$1M Spent in 2020 on New Roofs, Doors, Repairs, Misc. CapEx
Building Details
Building Size
Year Built
Year Renovated
Buildings
Units
Listing Agency:
Marcus & Millichap | Fort Worth
Listed By:
Brandon Karr · License #License(s): TX: 0545057, TX: 9005958
(817) 932-6163
Source:
Marcusmillichap
Added: Nov 6
Last Checked: Nov 6 at 2:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap | Fort Worth
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Investment Insights
Based on property information with market context.
The 71,535-square-foot self-storage property occupies a 4.29+/- acre parcel and contains 712 units. Its buildings include five single-story storage structures, one two-story storage structure, and a two-story leasing office with a manager’s residence. Built in 1996, the facility was 93 percent physically occupied. Improvements completed in 2020 included roof replacement, repairs to gates and fencing, 175 roll-up doors, and leasing-office work.
Site features include keypad-controlled gate access, perimeter fencing and lighting, keypad entry to climate-controlled areas, 24/7 video surveillance, and concrete driveways. The property is near the North Central Expressway and Forest Lane intersection, with Home Depot next door. Medical City Dallas is across the interstate, and Texas Instruments’ headquarters is 0.50 miles away.
Site features include keypad-controlled gate access, perimeter fencing and lighting, keypad entry to climate-controlled areas, 24/7 video surveillance, and concrete driveways. The property is near the North Central Expressway and Forest Lane intersection, with Home Depot next door. Medical City Dallas is across the interstate, and Texas Instruments’ headquarters is 0.50 miles away.
Key Highlights
- 712 storage units across 71,535 rentable square feet
- Five single‑story storage buildings, one two‑story storage building, and a two‑story leasing office/manager’s residence
- Built in 1996 on one 4.29+/- acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$829,234
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,584,680
$16.6M
Cap Rate 7%
$11,846,200
$11.8M
Cap Rate 9%
$9,213,711
$9.2M
Market Conditions
NOI Build-Up for 71,535 SF
Gross rent
$1.29M $18.00/SF
− Vacancy
−$103.0K −$1.44/SF
EGI
$1.18M $16.56/SF
− OpEx
−$355.4K −$4.97/SF
NOI
$829.2K $11.59/SF
Area
ZIP 75243
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,584,680
Cap Rate 7%
$11,846,200
Cap Rate 9%
$9,213,711
Alternative Uses
Best Use
Self Storage
$11.85M
$10.37M – $13.82M
NOI $829,234 @ 7.0% cap · market cap 4.15%
Second Best
Warehouse
$7.08M
$6.19M – $8.25M
NOI $495,255 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$78.30M
$68.51M – $91.35M
NOI $5,480,950 @ 7.0% cap · market cap 27.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,767
Businesses Nearby
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Business Placement
Demographics for 75243, TX
62,273
Population
31,577
Households
2
Avg Household Size
34
Median Age
34%
College-Educated
86%
High-School Grad
9.2 sq mi
ZIP Area
6,769
Density / Sq Mi
$50,357
Median Household Income
$33,760
Median Earnings
$1,226
Median Rent
$359,100
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Self storage facility - Six storage buildings are accompanied by a two-story office and manager’s residence.
Where is this self storage facility located?
The property is located at 11550 Forest Central Dr Dallas, TX.
What is the asking price?
The asking price for this property is $20,000,000.
What are key features of this property?
This property features: 712 storage units across 71,535 rentable square feet; Five single‑story storage buildings, one two‑story storage building, and a two‑story leasing office/manager’s residence; Built in 1996 on one 4.29+/- acre parcel
