Boat & RV Storage
For Sale
Contact for pricing
105 Creekwood Landing Dr, Richwood, TX 77531
72-unit boat and RV storage facility with expansion potential.
Property Size17,225 SF
Lot Size11.21 Acres
Price / SF$69.67
Days on Market559
Property Features for 105 Creekwood Landing Dr
General Information
Standard status
Active
Size
17,225 SF
Class
B
Lot size
11.21 Acres
Property subtype
Land, Self Storage
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$58,426
Building Details
Year Built
2024
Buildings
4
Stories
1
Units
72
Listing Agency:
CSD Realty Company
(281) 398-4588
Listed By:
Craig Rice · License #TX 398667
Source:
Crexi
Added: Jan 29, 2025
Changed: Aug 8
Last Checked: Aug 10 at 11:07AM
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 CSD Realty Company
Investment Insights
Based on property information with market context.
South Texas Boat & RV Storage is a 72-unit boat and RV storage facility with 26,045 net rentable square feet, located at 105 Creekwood Landing Dr., Richwood, Texas. Situated on 11.21 acres, the site benefits from high visibility on Highway 288, which sees approximately 17,000 vehicles per day. The surrounding area includes 704 apartment units across three complexes on Creekwood Dr. and Timber Creek Dr. The location is densely populated with over 50,000 residents within a 5-mile radius, with household incomes averaging roughly $100,000. Completed in late 2023, the facility is fully fenced and gated, featuring LED lighting, 24/7 digital camera surveillance, and uniquely coded keypad access for each tenant. The four metal-over-steel buildings are fully enclosed and rated for 145 MPH winds. Amenities include a community ice-maker, multiple free boat/vehicle wash-down areas, timed lights and electric outlets in every unit for trickle chargers, and a compressed air station. The facility achieved 100% occupancy within one year. With approximately 6 developable acres remaining, the property offers immediate expansion potential in an area underserved for both boat storage and climate-controlled mini storage. Brazoria County is projected to have over 574,000 residents by 2040.
Key Highlights
- High occupancy rate (100% in one year) indicates strong demand and immediate income potential.
- Significant expansion potential with approximately 6 developable acres.
- Prime location with high visibility on Highway 288 (17,000 vehicles per day) and direct exposure to 704 apartment units.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$109,885
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,197,700
$2.2M
Cap Rate 7%
$1,569,786
$1.6M
Cap Rate 9%
$1,220,944
$1.2M
Market Conditions
NOI Build-Up for 17,225 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$171.6K $9.96/SF
− Vacancy
−$14.6K −$0.85/SF
EGI
$157.0K $9.11/SF
− OpEx
−$47.1K −$2.73/SF
NOI
$109.9K $6.38/SF
Area
Brazoria County, TX
Vacancy
8.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,197,700
Cap Rate 7%
$1,569,786
Cap Rate 9%
$1,220,944
Alternative Uses
Best Use
Self Storage
$1.57M
$1.37M – $1.83M
NOI $109,885 @ 7.0% cap · market cap 9.16%
Second Best
Industrial
$1.27M
$1.11M – $1.48M
NOI $88,702 @ 7.0% cap · market cap 7.39%
Theoretical Best
Multifamily LT 5
$214.58M
$187.76M – $250.34M
NOI $15,020,698 @ 7.0% cap · market cap 1,251.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 77531, TX
15,666
Population
7,502
Households
2.1
Avg Household Size
33
Median Age
17%
College-Educated
83%
High-School Grad
11.7 sq mi
ZIP Area
1,339
Density / Sq Mi
$71,583
Median Household Income
$40,817
Median Earnings
$1,217
Median Rent
$236,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - 72-unit boat and RV storage facility with expansion potential.
Where is this self storage facility located?
The property is located at 105 Creekwood Landing Dr Richwood, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High occupancy rate (100% in one year) indicates strong demand and immediate income potential.; Significant expansion potential with approximately 6 developable acres.; Prime location with high visibility on Highway 288 (17,000 vehicles per day) and direct exposure to 704 apartment units.
