Current Use by Public Records
- Self storage facilities
Property Details
- Property type
- Self storage facilities
Description
This 6,192 square foot self-storage facility in Jonestown, Texas, presents a compelling value-add investment opportunity. Priced at $634,900, it boasts a pro-forma cap rate of 5.97% and a pro-forma NOI of $37,922. Currently featuring 24 units, the property offers significant upside potential through rent increases—rents are currently low and readily increasable. The facility includes 22 outdoor parking spaces, currently only 7 of which are utilized, providing additional revenue streams. Its prime location on a high-traffic road outside a growing community ensures excellent visibility and accessibility. A key-pad automatic gate enhances security. The previous owner's limited advertising efforts further suggest untapped market potential. The property's large units are well-suited for in-demand boat storage. A key advantage is the ability to construct additional storage facilities on the site, expanding capacity and significantly increasing profitability. This turnkey operation offers immediate revenue generation and substantial long-term growth prospects. The property is located at 18803 RM 1431, Jonestown, TX 78645, in Travis County. The lease type is gross, and the tenancy is multi.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jonestown
- County
- Travis
- State
- Texas
- Longitude
- -97.9298
- Latitude
- 30.4851
