62-Unit Self-Storage
For Sale
$790,000
1986 Fm 3240, Bandera, TX 78003
Established 62-unit self-storage facility on 2.884 acres with substantial excess land and Highway 3240 frontage.
Property Size8,250 SF
Lot Size2.88 Acres
Price / SF$95.76
Days on Market82
Property Features for 1986 Fm 3240
General Information
Standard status
Active
Size
8,250 SF
Lot size
2.88 Acres
Property subtype
Warehouse/Storage
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1997
Listing Agency:
RE/MAX Associates Boerne
Listed By:
Charles Acosta
(210) 483-5000
Source:
Pioneerrealtypartners
Added: Jun 16
Changed: Sep 4
Last Checked: Sep 4 at 5:32AM
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 RE/MAX Associates Boerne
Investment Insights
Based on property information with market context.
This established self-storage facility includes 62 storage units and is set on 2.884 acres of land with substantial excess space. The site also offers room for additional income-producing improvements, including the potential for expanded storage development and dedicated parking areas.
The property is located less than 3 miles from downtown Bandera and provides approximately 260 feet of frontage on Highway 3240. With nearly 483 feet of depth, the configuration supports both day-to-day storage operations and future site development.
The facility has maintained 100% occupancy during the current owner’s ownership, reflecting strong demand and consistent performance. The current rents are believed to be below market, presenting an opportunity for a new owner to pursue revenue growth while capitalizing on the property’s existing occupancy record and available expansion area.
The property is located less than 3 miles from downtown Bandera and provides approximately 260 feet of frontage on Highway 3240. With nearly 483 feet of depth, the configuration supports both day-to-day storage operations and future site development.
The facility has maintained 100% occupancy during the current owner’s ownership, reflecting strong demand and consistent performance. The current rents are believed to be below market, presenting an opportunity for a new owner to pursue revenue growth while capitalizing on the property’s existing occupancy record and available expansion area.
Key Highlights
- Established 62‑unit self‑storage facility on 2.884 acres with substantial excess land
- Approximately 260 feet of Highway 3240 frontage with nearly 483 feet of depth for visibility and access
- Less than 3 miles from downtown Bandera
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
$59,957
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
7.59%
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%
$1,199,140
$1.2M
Cap Rate 7%
$856,529
$856.5K
Cap Rate 9%
$666,189
$666.2K
Market Conditions
NOI Build-Up for 8,250 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
$74.3K $9.00/SF
− Vacancy
−$3.7K −$0.45/SF
EGI
$70.5K $8.55/SF
− OpEx
−$10.6K −$1.28/SF
NOI
$60.0K $7.27/SF
Area
Bandera County, TX
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,199,140
Cap Rate 7%
$856,529
Cap Rate 9%
$666,189
Alternative Uses
Best Use
Self Storage
$1.09M
$956.3K – $1.28M
NOI $76,507 @ 7.0% cap · market cap 9.68%
Second Best
Warehouse
$856.5K
$749.5K – $999.3K
NOI $59,957 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$2.10M
$1.84M – $2.46M
NOI $147,310 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 78003, TX
9,595
Population
5,194
Households
1.8
Avg Household Size
53
Median Age
24%
College-Educated
91%
High-School Grad
226.7 sq mi
ZIP Area
42
Density / Sq Mi
$54,500
Median Household Income
$35,179
Median Earnings
$1,096
Median Rent
$233,100
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 - Established 62-unit self-storage facility on 2.884 acres with substantial excess land and Highway 3240 frontage.
Where is this self storage facility located?
The property is located at 1986 Fm 3240 Bandera, TX.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Established 62‑unit self‑storage facility on 2.884 acres with substantial excess land; Approximately 260 feet of Highway 3240 frontage with nearly 483 feet of depth for visibility and access; Less than 3 miles from downtown Bandera
