Current Use by Public Records
- Land
Property Details for 1251 Elm Grove Spur
- Year built
- 2022
- Lot size
- 8.23 lot acres
- Property type
- Land
- Property subtype
- Self storage facilities
Description
This exceptional 8.234-acre commercial property in Belton, Texas (76513), houses a 2022-built, 64,902 square-foot RV and boat storage facility. Currently boasting 149 units with 62% occupancy, this Class C property offers significant value-add potential. The asking price is $1,700,000, translating to $4.79 per square foot and $11,409.40 per unit. The property's pro-forma NOI is $97,586, yielding a 6.78% cap rate. Located just half a mile from the Bell County Expo Center and outside city limits, this facility benefits from a desirable suburban location and strong growth potential in the Belton area. The existing 149 units can be expanded to approximately 250 units, utilizing the additional 3 acres of available land. Below-market rental rates present an immediate opportunity to increase profitability. Seller financing is available, making this a compelling investment opportunity for those seeking a value-add project with significant upside. The total square footage of the land is 354,578 square feet. This property presents a rare chance to acquire a thriving business with substantial expansion capabilities in a rapidly growing Texas market.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Belton
- County
- Bell
- State
- Texas
- Longitude
- -97.4614
- Latitude
- 31.0242
