24365 Tx-124 Hamshire, TX 77622
- Self storage facilities
- 3.96 lot acres
Current Use by Public Records
- Self storage facilities
Property Details for 24365 Tx-124
- Year built
- 2022
- Lot size
- 3.96 lot acres
- Property type
- Self storage facilities
Description
This exceptional 2022-built self-storage facility in Hamshire, Texas, presents a compelling investment opportunity. Boasting 30,000 net rentable square feet across two single-story buildings situated on a 3.96-acre lot, this property includes 15,000 square feet of climate-controlled units, 13,500 square feet of covered boat/RV parking, and 1,500 square feet of flexible space. The property features 164 units and benefits from an existing NOI of $46,735 and a pro-forma NOI of $207,134, resulting in a 9.86% cap rate. Significant upside potential exists through lease-up, stabilization, and rent increases. Located on Texas Highway 124, with 4,618 vehicles passing daily, the property enjoys excellent visibility and benefits from a lack of competition within a five-mile radius. The surrounding area boasts a strong average household income exceeding $113,288 within five miles. Furthermore, the property includes approximately one acre of expansion land, allowing for future development. This prime location near Beaumont (population over 340,000) and the Houston suburbs (population over 3,000,000) offers exceptional growth potential. The asking price is $2,100,000. Jefferson County APN: 016041-000-000100-00000; 016041-000-000200-00000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hamshire
- County
- Jefferson
- State
- Texas
- Longitude
- -94.3044
- Latitude
- 29.8613
