Current Use by Public Records
- S5 Storage / Storage Facility
Property Details for 775 Fm 2264
- Year built
- 2023
- Lot size
- 11.90 lot acres
- Property type
- Mixed-use properties
- Property subtype
- Land
Description
This exceptional mixed-use property in Decatur, Texas, presents a lucrative investment opportunity. Encompassing 19,000 square feet on an 11.9-acre lot, the property features 98 mixed-sized storage units housed in two buildings (one with 14' ceilings, the other with 8'-12' ceilings), 15 tiny homes, and three duplexes—all currently generating income. Building 1 includes a contractor suite and boat/RV storage. The storage units, many climate-controlled, are situated on 1.33 fenced acres with expansion potential for additional 10x10 units. Five truck parking spaces are available, with four currently rented. The property is conveniently located approximately one mile from Landmark Industrial Park and Eagles Landing Business Park, just outside Decatur city limits. All tiny homes are occupied, and the storage units currently operate at 40% capacity, projecting a 10% cap rate at full occupancy. The property boasts a website and automated system, and the seller will consider all reasonable offers. The estimated gross monthly income at full capacity is approximately $43,000. Six additional development spots are available with existing sewer, water, and power, offering significant expansion potential. Annual property taxes are $28,368, and annual insurance for the storage facility is $5,357. Monthly expenses include $228 for software and hosting and an average of $424 for electricity. The seller currently pays 10% of income to a management company. This turnkey operation offers immediate income and substantial growth potential.
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
- Decatur
- County
- Wise
- State
- Texas
- Longitude
- -97.5395
- Latitude
- 33.1963
