Drive-Up Self-Storage
New
For Sale
$570,000
502 S 3rd St, Mabank, TX 75147
Four storage buildings include a restaurant-occupied retail space alongside non-climate-controlled units.
Property Size8,951 SF
Lot Size0.66 Acres
Price / SF$63.68
Days on Market3
Property Features for 502 S 3rd St
General Information
Standard status
Active
Size
8,951 SF
Lot size
0.66 Acres
Property subtype
Self-Storage Facility
Occupancy
79%
Site & Location
Road Access
Yes
Fenced Yard
Yes
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Cap Rate
8.04%
Self-Storage Units
51
Property Use
Self Storage
Amenities
motorized gate with keypad access
perimeter fencing
lighting
24/7 video surveillance
78% Population Growth Since 2020
Cedar Creek Lake - Major Economic Driver With Over 62,000 Annual Visitors
New Housing Developments - Approximately 459 Housing and Multifamily Projects
Value Add Opportunities - Occupancy Growth and Additional Supplemental Income Streams
Building Details
Building Size
8,951 SF
Year Built
1997
Buildings
4
Units
54
Listing Agency:
Marcus & Millichap | Fort Worth
Listed By:
Brandon Karr · License #License(s): TX: 0545057, TX: 9005958
(817) 932-6163
Source:
Marcusmillichap
Added: Oct 30
Last Checked: Nov 1 at 2:17AM
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 | Fort Worth
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Investment Insights
Based on property information with market context.
This Mabank self-storage property includes four buildings with 51 non-climate-controlled drive-up units and one retail space occupied by a restaurant. The facility totals 8,951 rentable square feet on approximately 0.66 acres. Access is controlled by a motorized keypad gate, while perimeter fencing, lighting, and 24/7 video surveillance serve the site. Built in 1997, the property is 76 percent physically occupied.
The facility fronts South 3rd Street, where nearly 22,000 vehicles travel daily. The restaurant has occupied the retail space for three years under a monthly gross lease. The owner handles phone inquiries, tenant requests, and minor upkeep directly.
The facility fronts South 3rd Street, where nearly 22,000 vehicles travel daily. The restaurant has occupied the retail space for three years under a monthly gross lease. The owner handles phone inquiries, tenant requests, and minor upkeep directly.
Key Highlights
- 8,951 rentable square feet on approximately 0.66 acres
- Four buildings with 51 non‑climate drive‑up units
- Restaurant‑occupied retail space under a monthly gross lease for three years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,782
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$935,640
$935.6K
Cap Rate 7%
$668,314
$668.3K
Cap Rate 9%
$519,800
$519.8K
Market Conditions
NOI Build-Up for 8,951 SF
Gross rent
$73.0K $8.16/SF
− Vacancy
−$6.2K −$0.69/SF
EGI
$66.8K $7.47/SF
− OpEx
−$20.0K −$2.24/SF
NOI
$46.8K $5.23/SF
Area
Henderson County, TX
Vacancy
8.50%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$935,640
Cap Rate 7%
$668,314
Cap Rate 9%
$519,800
Alternative Uses
Best Use
Retail
$1.75M
$1.54M – $2.05M
NOI $122,802 @ 7.0% cap · market cap 21.54%
Second Best
Warehouse
$796.5K
$696.9K – $929.2K
NOI $55,752 @ 7.0% cap · market cap 9.78%
Theoretical Best
Office A
$3.15M
$2.76M – $3.67M
NOI $220,409 @ 7.0% cap · market cap 38.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
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Business Placement
Demographics for 75147, TX
7,781
Population
3,302
Households
2.4
Avg Household Size
40
Median Age
19%
College-Educated
86%
High-School Grad
86.2 sq mi
ZIP Area
90
Density / Sq Mi
$60,520
Median Household Income
$34,572
Median Earnings
$899
Median Rent
$238,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Self storage facility - Four storage buildings include a restaurant-occupied retail space alongside non-climate-controlled units.
Where is this self storage facility located?
The property is located at 502 S 3rd St Mabank, TX.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: 8,951 rentable square feet on approximately 0.66 acres; Four buildings with 51 non‑climate drive‑up units; Restaurant‑occupied retail space under a monthly gross lease for three years
