Gated Self Storage
New
For Sale
$2,850,000
8813 N Highway 171, Godley, TX 76044
A mix of storage unit sizes is arranged across multiple buildings on a multi-acre site.
Property Size12,900 SF
Lot Size2.41 Acres
Days on Market2
Property Features for 8813 N Highway 171
General Information
Standard status
Active
Size
12,900 SF
Lot size
2.41 Acres
Property subtype
Warehouse
Additional Details
Fenced Yard
Yes
Self-Storage Units
155
Taxes and HOA fees
Annual Taxes
$4,905
Building Details
Building Size
12,900 SF
Year Built
1987
Listing Agency:
Coldwell Banker Apex, REALTORS Cleburne
Listed By:
Toie Harp
(972) 783-1919
Source:
Baerealty
Added: Sep 26
Last Checked: Sep 26 at 2:29PM
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 Coldwell Banker Apex, REALTORS Cleburne
Investment Insights
Based on property information with market context.
Built in 1987, this self storage facility offers 155 units in a range of sizes. Nine primary buildings sit behind a gated entrance, with a separate large storage building on an adjoining parcel. The property encompasses approximately 2.41 acres and includes additional land identified as suitable for adding storage units.
Key Highlights
- 155 storage units in a range of sizes
- Nine main buildings behind a gated entrance
- Additional large storage building on an adjoining parcel
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
$121,190
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
4.25%
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%
$2,423,800
$2.4M
Cap Rate 7%
$1,731,286
$1.7M
Cap Rate 9%
$1,346,556
$1.3M
Market Conditions
NOI Build-Up for 12,900 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
$185.8K $14.40/SF
− Vacancy
−$12.6K −$0.98/SF
EGI
$173.1K $13.42/SF
− OpEx
−$51.9K −$4.03/SF
NOI
$121.2K $9.39/SF
Area
Johnson County, TX
Vacancy
6.80%
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%
$2,423,800
Cap Rate 7%
$1,731,286
Cap Rate 9%
$1,346,556
Alternative Uses
Best Use
Self Storage
$1.73M
$1.51M – $2.02M
NOI $121,190 @ 7.0% cap · market cap 4.25%
Second Best
Warehouse
$1.28M
$1.12M – $1.50M
NOI $89,705 @ 7.0% cap · market cap 3.15%
Theoretical Best
Multifamily LT 5
$154.63M
$135.30M – $180.40M
NOI $10,823,945 @ 7.0% cap · market cap 379.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 76044, TX
5,715
Population
3,127
Households
1.8
Avg Household Size
36
Median Age
26%
College-Educated
95%
High-School Grad
108.3 sq mi
ZIP Area
53
Density / Sq Mi
$103,795
Median Household Income
$56,411
Median Earnings
$1,227
Median Rent
$370,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - A mix of storage unit sizes is arranged across multiple buildings on a multi-acre site.
Where is this self storage facility located?
The property is located at 8813 N Highway 171 Godley, TX.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 155 storage units in a range of sizes; Nine main buildings behind a gated entrance; Additional large storage building on an adjoining parcel
