Fronting Self Storage
421 N General McMullen Dr San Antonio, TX 78237
421 N General McMullen Dr, San Antonio, TX, 78237
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For Sale
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Self storage property fronting N General McMullen Dr with rebuilding completed in June 2025 after a fire.
Property Size98,615 SF
Price / SF$133.35
Days on Market117
Property Features for 421 N General McMullen Dr
General Information
- Standard status
- Active
- Size
- 98,615 SF
- Property subtype
- Self Storage
Listing agency
Colliers - Nashville, Tennessee
(615) 850-2774
Listed by
Ashley Compton · License #TN 77340
Source
Crexi
Added: Mar 27 Updated: Jul 20 at 6:22PM Checked: Jul 21 at 4:24AM
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 Colliers - Nashville, Tennessee
Investment Insights
Based on property information with market context.
This self storage facility fronts N General McMullen Dr and is positioned for convenient, high-visibility access. A building destroyed by fire was rebuilt, with the expansion completed in June 2025. The fire-related repairs and maintenance drive abnormally high operating expense, and current physical occupancy is below normal.
The property fronts N General McMullen Dr, which carries approximately 26,151 AADT, and it is located about 6 miles west of downtown San Antonio. The surrounding area is described as having 324,879 residents and 139,753 housing units within a five-mile radius, with 50% of housing units renter-occupied. Yardi data cited in the remarks indicates 3-mile saturation of 2.22 SF per capita, including 1.57 SF non-climate-controlled and 0.65 SF climate-controlled.
The property fronts N General McMullen Dr, which carries approximately 26,151 AADT, and it is located about 6 miles west of downtown San Antonio. The surrounding area is described as having 324,879 residents and 139,753 housing units within a five-mile radius, with 50% of housing units renter-occupied. Yardi data cited in the remarks indicates 3-mile saturation of 2.22 SF per capita, including 1.57 SF non-climate-controlled and 0.65 SF climate-controlled.
Key Highlights
- Self‑storage property fronting N General McMullen Dr (26,151 AADT) with 6 miles west of downtown San Antonio.
- Rebuilding completed in June 2025 after a fire destroyed the prior building.
- Fire‑related Repairs and Maintenance operating expense has been abnormally high with below normal physical occupancy currently reported.
Local Financial Insights For Self Storage
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.54M | $15.60 |
| − Vacancy | −$115.4k | −$1.17 |
| EGI | $1.42M | $14.43 |
| − OpEx | −$426.9k | −$4.33 |
| NOI | $996.1k | $10.10 |
98,615 SF · lease $15.60/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Self Storage
$14.23M
$12.45M – $16.60M
NOI $996,110 @ 7.0% cap · market cap 7.57%
Second Best
Warehouse
$9.79M
$8.56M – $11.42M
NOI $685,000 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$25.16M
$22.01M – $29.35M
NOI $1,760,851 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Store It All ...
Storage Facility
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Self storage property fronting N General McMullen Dr with rebuilding completed in June 2025 after a fire.
Where is this self storage facility located?
The property is located at 421 N General McMullen Dr San Antonio, TX.
What is the asking price?
The asking price for this property is $13,150,000.
What are key features of this property?
This property features: Self‑storage property fronting N General McMullen Dr (26,151 AADT) with 6 miles west of downtown San Antonio.; Rebuilding completed in June 2025 after a fire destroyed the prior building.; Fire‑related Repairs and Maintenance operating expense has been abnormally high with below normal physical occupancy currently reported.
