Liberty Storage Facility For
For Sale
$395,000
1609 Lakeland Drive, Liberty, TX 77575
2-acre storage facility with expansion potential in Liberty, Texas.
Property Size2,400 SF
Lot Size2.00 Acres
Price / SF$164.58
Days on Market144
Property Features for 1609 Lakeland Drive
General Information
Standard status
Active
Size
2,400 SF
Lot size
2.00 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$6,843
Listing Agency:
SENDERO REAL ESTATE
(281) 407-0601
Listed By:
JUAN SANCHEZ · License #0520895
Source:
Corcoran
Added: Apr 9
Changed: Aug 27
Last Checked: Aug 29 at 9:16AM
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 SENDERO REAL ESTATE
Investment Insights
Based on property information with market context.
This 2-acre storage facility is located in the City of Liberty. The property includes two existing self-storage buildings with a total of 32 units. Additionally, there is a recently constructed 2,400 square foot shell warehouse building and a 900 square foot stand-alone office building. Fully approved civil construction drawings are available for an expansion that includes three proposed storage buildings totaling 6,800 square feet. There is also a proposed outdoor parking area that could be replaced with a proposed fourth storage building as large as 2,800 square feet. The property is fully fenced and features an automated gate entry with secure pin pad access. The facility is currently being run remotely.
Key Highlights
- Existing storage facility with 32 units and additional warehouse and office buildings.
- Approved civil construction drawings for expansion, including three proposed storage buildings totaling 6,800 SF.
- Potential for additional storage building of up to 2,800 SF in lieu of proposed outdoor parking.
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
$22,982
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
5.82%
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%
$459,640
$459.6K
Cap Rate 7%
$328,314
$328.3K
Cap Rate 9%
$255,356
$255.4K
Market Conditions
NOI Build-Up for 2,400 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
$34.6K $14.40/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$32.8K $13.68/SF
− OpEx
−$9.8K −$4.10/SF
NOI
$23.0K $9.58/SF
Area
Liberty County, TX
Vacancy
5.00%
Lease Rate
$14.40 /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%
$459,640
Cap Rate 7%
$328,314
Cap Rate 9%
$255,356
Alternative Uses
Best Use
Self Storage
$328.3K
$287.3K – $383.0K
NOI $22,982 @ 7.0% cap · market cap 5.82%
Second Best
Warehouse
$211.9K
$185.4K – $247.2K
NOI $14,833 @ 7.0% cap · market cap 3.76%
Theoretical Best
Multifamily LT 5
$26.91M
$23.54M – $31.39M
NOI $1,883,529 @ 7.0% cap · market cap 476.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Explore this area
Business Placement
Demographics for 77575, TX
15,768
Population
7,059
Households
2.2
Avg Household Size
39
Median Age
14%
College-Educated
80%
High-School Grad
238.1 sq mi
ZIP Area
66
Density / Sq Mi
$52,238
Median Household Income
$33,168
Median Earnings
$953
Median Rent
$161,300
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 - 2-acre storage facility with expansion potential in Liberty, Texas.
Where is this self storage facility located?
The property is located at 1609 Lakeland Drive Liberty, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Existing storage facility with 32 units and additional warehouse and office buildings.; Approved civil construction drawings for expansion, including three proposed storage buildings totaling 6,800 SF.; Potential for additional storage building of up to 2,800 SF in lieu of proposed outdoor parking.
