Self Storage Facility Under
New
For Sale
$5,000,000
977 S State Hwy 123, Seguin, TX 78155
Planned gated storage facility with drive-up units, digital access control, surveillance, and concrete circulation drives.
Property Size42,600 SF
Lot Size8.23 Acres
Price / SF$117.37
Days on Market3
Property Features for 977 S State Hwy 123
General Information
Standard status
Active
Size
42,600 SF
Lot size
8.23 Acres
Property subtype
Self-Storage Facility
Occupancy
90%
Additional Details
Fenced Yard
Yes
Self-Storage Units
297
Amenities
gated digital keypad access
24/7 video surveillance
297 units and 42,600 square feet across eight single-story drive-up buildings, featuring an attractive brick façade, gated digital access, 24/7 video surveillance, and concrete drive aisles.
The property has frontage on Texas State Highway 123 with 14,400+ vehicles per day, surrounded by strong single-family and multifamily development.
Average household incomes are approaching $80,000 within three miles and a local population of roughly 28,000.
Building Details
Building Size
42,600 SF
Year Built
2026
Buildings
8
Units
297
Construction
brick
Listing Agency:
Marcus & Millichap | Denver
(713) 452-4293
Listed By:
Dave Knobler · License #License(s): TX: 606252
(713) 452-4293
Source:
Marcusmillichap
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 12:58PM
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 | Denver
Investment Insights
Based on property information with market context.
This self-storage development is under construction and is planned to include 297 units across eight single-story buildings. The 42,600-square-foot facility will offer non-climate-controlled, drive-up storage with roll-up doors. Planned site improvements include a brick façade, gated digital keypad entry, 24/7 video surveillance, and concrete drive aisles designed for vehicle circulation. The stated year built is 2026.
The project occupies approximately 8.23 acres at 977 S State Hwy 123 in Seguin, Texas. Its planned configuration combines multiple single-story storage buildings with direct vehicle access to individual units, supporting a straightforward drive-up layout.
The project occupies approximately 8.23 acres at 977 S State Hwy 123 in Seguin, Texas. Its planned configuration combines multiple single-story storage buildings with direct vehicle access to individual units, supporting a straightforward drive-up layout.
Key Highlights
- 297‑unit self‑storage development under construction
- 42,600 square feet across eight single‑story buildings
- Approximately 8.23‑acre site at 977 S State Hwy 123
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
$395,055
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
7.90%
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%
$7,901,100
$7.9M
Cap Rate 7%
$5,643,643
$5.6M
Cap Rate 9%
$4,389,500
$4.4M
Market Conditions
NOI Build-Up for 42,600 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
$613.4K $14.40/SF
− Vacancy
−$49.1K −$1.15/SF
EGI
$564.4K $13.25/SF
− OpEx
−$169.3K −$3.97/SF
NOI
$395.1K $9.27/SF
Area
Guadalupe County, TX
Vacancy
8.00%
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%
$7,901,100
Cap Rate 7%
$5,643,643
Cap Rate 9%
$4,389,500
Alternative Uses
Best Use
Self Storage
$5.64M
$4.94M – $6.58M
NOI $395,055 @ 7.0% cap · market cap 7.90%
Second Best
Warehouse
$4.42M
$3.87M – $5.16M
NOI $309,596 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$11.17M
$9.78M – $13.04M
NOI $782,136 @ 7.0% cap · market cap 15.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 78155, TX
51,772
Population
21,791
Households
2.4
Avg Household Size
40
Median Age
22%
College-Educated
85%
High-School Grad
355.5 sq mi
ZIP Area
146
Density / Sq Mi
$71,367
Median Household Income
$38,985
Median Earnings
$1,149
Median Rent
$246,000
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 - Planned gated storage facility with drive-up units, digital access control, surveillance, and concrete circulation drives.
Where is this self storage facility located?
The property is located at 977 S State Hwy 123 Seguin, TX.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 297‑unit self‑storage development under construction; 42,600 square feet across eight single‑story buildings; Approximately 8.23‑acre site at 977 S State Hwy 123
