594-Unit Self Storage
New
For Sale
$7,000,000
1400 S Durant St, Alvin, TX 77511
Eight single-story buildings offer climate-controlled and conventional storage options with gated access and on-site management facilities.
Property Size62,635 SF
Lot Size3.01 Acres
Price / SF$111.76
Days on Market2
Property Features for 1400 S Durant St
General Information
Standard status
Active
Size
62,635 SF
Lot size
3.01 Acres
Property subtype
Self-Storage Facility
Occupancy
87%
Additional Details
Cap Rate
5.63%
Self-Storage Units
594
Amenities
video surveillance
automatic gate with digital keypad access
full service onsite manager's office with attached residence
SIGNIFICANT OPERATIONAL UPSIDE
MEANINGFUL RATE GROWTH RUNWAY
STRONG DEMOGRAPHIC BASE
HIGH VISIBILITY LOCATION
POSITIONED IN A GROWTH CORRIDOR
MAJOR INFRASTRUCTURE CATALYST
RECENT CAPITAL IMPROVEMENTS
STABLE OCCUPANCY WITH UPSIDE
Building Details
Building Size
62,635 SF
Year Built
1982
Year Renovated
1994
Buildings
8
Stories
1
Units
594
Listing Agency:
Marcus & Millichap | Denver
(713) 452-4293
Listed By:
Dave Knobler · License #License(s): TX: 606252
(713) 452-4293
Source:
Marcusmillichap
Added: Sep 1
Last Checked: Sep 1 at 8:53PM
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 | Denver
Investment Insights
Based on property information with market context.
The Extra Space Storage (Managed) facility at 1400 S Durant St in Alvin, Texas, contains 62,635 NRSF across 594 storage units. Eight single-story buildings provide a combination of climate-controlled and non-climate-controlled space. Improvements include video surveillance, an automatic gate with digital keypad entry, roll-up doors, and concrete drive aisles. A manager’s office is located on site with an attached residence.
The property occupies approximately 3.01 acres and was originally built in 1982. Climate-controlled buildings were added in 1994, and the facility has received recent roof repairs and other capital improvements over the past two years. The operating improvements and site layout support a managed self-storage configuration with multiple building types and access features.
The property occupies approximately 3.01 acres and was originally built in 1982. Climate-controlled buildings were added in 1994, and the facility has received recent roof repairs and other capital improvements over the past two years. The operating improvements and site layout support a managed self-storage configuration with multiple building types and access features.
Key Highlights
- 62,635 NRSF self‑storage facility with 594 units
- Approximately 3.01‑acre site at 1400 S Durant St, Alvin, TX 77511
- Eight single‑story buildings with climate‑controlled and non‑climate 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
$399,572
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
5.71%
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%
$7,991,440
$8.0M
Cap Rate 7%
$5,708,171
$5.7M
Cap Rate 9%
$4,439,689
$4.4M
Market Conditions
NOI Build-Up for 62,635 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
$623.8K $9.96/SF
− Vacancy
−$53.0K −$0.85/SF
EGI
$570.8K $9.11/SF
− OpEx
−$171.2K −$2.73/SF
NOI
$399.6K $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%
$7,991,440
Cap Rate 7%
$5,708,171
Cap Rate 9%
$4,439,689
Alternative Uses
Best Use
Self Storage
$5.71M
$4.99M – $6.66M
NOI $399,572 @ 7.0% cap · market cap 5.71%
Second Best
Warehouse
$5.60M
$4.90M – $6.53M
NOI $391,664 @ 7.0% cap · market cap 5.60%
Theoretical Best
Multifamily LT 5
$780.28M
$682.74M – $910.33M
NOI $54,619,531 @ 7.0% cap · market cap 780.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 77511, TX
51,093
Population
20,499
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
83%
High-School Grad
150.1 sq mi
ZIP Area
340
Density / Sq Mi
$77,015
Median Household Income
$43,119
Median Earnings
$1,213
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Eight single-story buildings offer climate-controlled and conventional storage options with gated access and on-site management facilities.
Where is this self storage facility located?
The property is located at 1400 S Durant St Alvin, TX.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 62,635 NRSF self‑storage facility with 594 units; Approximately 3.01‑acre site at 1400 S Durant St, Alvin, TX 77511; Eight single‑story buildings with climate‑controlled and non‑climate units
