820 S Greenville Ave, Allen, TX

Listing agent Ed Colson, Jr. CCIM

Listing office InvestCore Commercial, Inc. Show Phone

Listing date Apr 10, 2024

Source Moodyscre

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Overview

This property is an investment opportunity suitable for a passive investor, featuring minimal landlord obligations. Extra Space Storage manages the day-to-day activities, including property maintenance, and provides monthly financials and reports. The new construction reduces the likelihood of significant capital expenses in the near future. The property has demonstrated a 3% year-over-year increase in Net Operating Income, and a 162% increase in Net Operating Income compared to T-12 September 2021. The facility has maintained over 90% occupancy for three consecutive months, trending towards 92% to 94% stabilized, with a 12% 2023 year-to-date increase in occupancy. Monthly Net Rental Income has increased by $8,134 compared to September 2022. Extra Space Storage, following its merger with Life Storage, Inc., has become the largest storage operation in the U.S., holding 12% of the market share. The combined company is expected to have a pro forma equity market cap of approximately $36 billion and a total enterprise value of approximately $47 billion. The property is located at 820 S Greenville Ave, Allen, TX and has a property size of 80421 square feet.

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Allen

County

Collin

State

Texas

Longitude

-96.673

Latitude

33.0875

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FAQs

What type of property is this?

Self storage facility - High-quality self-storage facility managed by Extra Space Storage.

Where is this self storage facility located?

The property is located at 820 S Greenville Ave Allen, TX.

What are key features of this property?

This property features: Managed by Extra Space Storage, a best‑in‑class company.; Significant increase in Net Operating Income: 162% increase compared to T‑12 September 2021.; **New, high‑quality construction minimizes near‑future capital expenses.**