Fronting Self Storage
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421 N General McMullen Dr, San Antonio, TX 78237
Self storage property fronting N General McMullen Dr with rebuilding completed in June 2025 after a fire.
Property Size98,615 SF
Price / SF$126.76
Days on Market210
Property Features for 421 N General McMullen Dr
General Information
Standard status
Active
Size
98,615 SF
Class
B
Property subtype
Self Storage
Site & Location
Traffic Count
26,151 vehicles/day
Road Access
Yes
Additional Details
Business Included
Yes
Building Details
Year Renovated
2025
Buildings
9
Units
1017
Listing Agency:
Colliers - Nashville, Tennessee
Listed By:
Ashley Compton · License #TN 77340
(615) 734-9541
Source:
Crexi
Added: Mar 27
Changed: Oct 2
Last Checked: Oct 20 at 7:48PM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$996,110
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,922,200
$19.9M
Cap Rate 7%
$14,230,143
$14.2M
Cap Rate 9%
$11,067,889
$11.1M
Market Conditions
NOI Build-Up for 98,615 SF
Gross rent
$1.54M $15.60/SF
− Vacancy
−$115.4K −$1.17/SF
EGI
$1.42M $14.43/SF
− OpEx
−$426.9K −$4.33/SF
NOI
$996.1K $10.10/SF
Area
San Antonio, TX
Vacancy
7.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,922,200
Cap Rate 7%
$14,230,143
Cap Rate 9%
$11,067,889
Alternative Uses
Best Use
Self Storage
$14.23M
$12.45M – $16.60M
NOI $996,110 @ 7.0% cap · market cap 7.97%
Second Best
Warehouse
$9.79M
$8.56M – $11.42M
NOI $685,000 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$25.16M
$22.01M – $29.35M
NOI $1,760,851 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
26,151 VPD
Traffic count
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
Explore this area
Business Placement
Demographics for 78237, TX
36,019
Population
12,998
Households
2.8
Avg Household Size
35
Median Age
6%
College-Educated
64%
High-School Grad
7.1 sq mi
ZIP Area
5,073
Density / Sq Mi
$40,233
Median Household Income
$27,038
Median Earnings
$987
Median Rent
$103,000
Median Home Value
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Market
Vacancy Rate% for Industrial in San Antonio, TX
Frequently Asked Questions
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 $12,500,000.
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.
