Boat And RV Self-Storage
For Sale
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658 Ross Ave, Port Aransas, TX 78373
Port Aransas self-storage facility serving boat and RV owners with larger units, full occupancy, and an active waitlist.
Property Size29,328 SF
Price / SF$119.34
Days on Market14
Property Features for 658 Ross Ave
General Information
Standard status
Active
Size
29,328 SF
Property subtype
Self Storage
Occupancy
100%
Additional Details
Self-Storage Units
48
Listing Agency:
ParaSell Inc
Listed By:
Scott Reid · License #1974375
(949) 942-6585
Source:
Crexi
Added: Sep 4
Changed: Sep 17
Last Checked: Sep 16 at 4:13PM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
Marlin Storage is a 48-unit self-storage facility in Port Aransas, Texas, offering 29,328 NRSF in larger-format units suited to boat and RV storage. The property serves a coastal market where storage demand extends beyond full-time residents and supports year-round use by seasonal occupants.
The facility is located at 658 Ross Ave in a community known for fishing and nearby marinas. It sits roughly 45 miles from Corpus Christi and benefits from its position in a beach and vacation destination. The property reports 100% physical occupancy and maintains a waitlist, reflecting demand from nearby boat owners and other storage users.
Tenants are offered longer-term lease arrangements, and the facility’s unit configuration is oriented toward larger recreational-storage needs. The surrounding market includes seasonal households as well as residents and visitors connected to the local marina and fishing activity.
The facility is located at 658 Ross Ave in a community known for fishing and nearby marinas. It sits roughly 45 miles from Corpus Christi and benefits from its position in a beach and vacation destination. The property reports 100% physical occupancy and maintains a waitlist, reflecting demand from nearby boat owners and other storage users.
Tenants are offered longer-term lease arrangements, and the facility’s unit configuration is oriented toward larger recreational-storage needs. The surrounding market includes seasonal households as well as residents and visitors connected to the local marina and fishing activity.
Key Highlights
- 48‑unit self‑storage facility
- 29,328 NRSF of larger‑format storage space
- Designed to accommodate boat and RV storage needs
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
$266,064
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
7.60%
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%
$5,321,280
$5.3M
Cap Rate 7%
$3,800,914
$3.8M
Cap Rate 9%
$2,956,267
$3.0M
Market Conditions
NOI Build-Up for 29,328 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
$422.3K $14.40/SF
− Vacancy
−$42.2K −$1.44/SF
EGI
$380.1K $12.96/SF
− OpEx
−$114.0K −$3.89/SF
NOI
$266.1K $9.07/SF
Area
Nueces County, TX
Vacancy
10.00%
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%
$5,321,280
Cap Rate 7%
$3,800,914
Cap Rate 9%
$2,956,267
Alternative Uses
Best Use
Warehouse
$30.34M
$26.55M – $35.40M
NOI $2,124,053 @ 7.0% cap · market cap 60.69%
Second Best
Self Storage
$3.80M
$3.33M – $4.43M
NOI $266,064 @ 7.0% cap · market cap 7.60%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
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Business Placement
Demographics for 78373, TX
3,134
Population
5,614
Households
0.6
Avg Household Size
56
Median Age
38%
College-Educated
95%
High-School Grad
18.8 sq mi
ZIP Area
167
Density / Sq Mi
$90,000
Median Household Income
$52,353
Median Earnings
$2,226
Median Rent
$518,500
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Port Aransas self-storage facility serving boat and RV owners with larger units, full occupancy, and an active waitlist.
Where is this self storage facility located?
The property is located at 658 Ross Ave Port Aransas, TX.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 48‑unit self‑storage facility; 29,328 NRSF of larger‑format storage space; Designed to accommodate boat and RV storage needs
