155-Unit Self Storage
For Sale
$2,850,000
8813 N Highway 171, Godley, TX 76044
Gated storage property with nine primary buildings and an additional storage structure.
Property Size12,900 SF
Lot Size2.41 Acres
Days on Market57
Property Features for 8813 N Highway 171
General Information
Standard status
Active
Size
12,900 SF
Lot size
2.41 Acres
Property subtype
Commercial
Zoning
Commercial
Additional Details
Fenced Yard
Yes
Self-Storage Units
155
Building Details
Building Size
12,900 SF
Year Built
1987
Buildings
10
Units
155
Listing Agency:
Coldwell Banker Apex, REALTORS Cleburne
(817) 202-7351
Listed By:
Toie Harp
(817) 202-7351
Source:
Vickiesteam
Added: Jul 5
Changed: Aug 30
Last Checked: Jul 14 at 6:46PM
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.
This self storage facility at 8813 N Highway 171 in Godley, Texas, includes 155 units offered in a range of sizes. The property comprises nine principal buildings secured by a gated entrance, plus a large storage building on the adjoining parcel. Built in 1987, the facility occupies approximately 2.41 acres and includes additional land identified for future unit construction.
Key Highlights
- 155 storage units in a range of sizes
- Approximately 2.41 acres
- Nine main buildings behind a gated entrance
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
Property Profile
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
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 - Gated storage property with nine primary buildings and an additional storage structure.
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; Approximately 2.41 acres; Nine main buildings behind a gated entrance
