Current Use by Public Records
- Citizens Bank / Atm
Property Details for 425 Loop
- Lot size
- 2.26 lot acres
- Property type
- Self storage facilities
Description
Exceptional investment opportunity in Carthage, Texas, presents a 9-building, 183-unit self-storage complex totaling 26,738 rentable square feet on a 2.26-acre lot. Built between 1994 and 2000, with renovations completed in 2000, the property boasts a 97.6% occupancy rate (as of November 1, 2024) and a strong NOI of $112,500, yielding a 9.15% cap rate. The asking price is $1,230,000 ($46/sq ft and $6,721/unit). The property features approximately 32,000 square feet of concrete paving and is fully fenced with a gate operator. A 0.40-acre vacant lot offers potential for future expansion. Strategically located at 425 NW Loop 436, adjacent to a major shopping center anchored by HEB Grocery and Bealls, this property enjoys a prime location and consistently high occupancy, exceeding industry standards without active advertising. Current rental rates are approximately 10% below local competitors, presenting significant upside potential. The property is zoned for light retail use.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Carthage
- County
- Panola
- State
- Texas
- Longitude
- -94.3715
- Latitude
- 32.1573
