2700 Fm 56 Glen Rose, TX 76043-6521

Property Details for 2700 Fm 56

Year built

2000

Lot size

7.15 lot acres

Property size

19,500 SF

Property type

Commercial real estate

APN

R000011460

APU

R000011460

Description

This exceptional self-storage opportunity presents a 33,625-square-foot facility situated on 7.15 acres in Glen Rose, Texas, a thriving DFW suburb. Built in 2000 and renovated in 2022, the property boasts 182 units, including drive-up, interior, and covered parking spaces. The complex also includes a substantial office/warehouse building and a "barndominium" style residence, potentially usable for additional storage or other purposes. Key features include garage-style roll-up doors, perimeter fencing and lighting, a key-pad gated entry, and wide driveways. Currently operating at 90% physical occupancy (August 2024), the property offers significant upside potential through improved operational efficiency and revenue management. The property's location along FM 56 provides excellent visibility and accessibility. Glen Rose's popularity as a tourist destination, coupled with its strategic location along a major thoroughfare connecting the DFW Metroplex to the Texas Hill Country, ensures strong demand. The seller is offering attractive financing options, including a potential 60% loan with a 25-year amortization schedule, maturing in five years at a fixed 5% interest rate (interest-only payments may be considered). The asking price is $1,950,000, representing a $57.99 per square foot cost and a 7.62% cap rate (pro-forma 8.11%). A six-month gross lease at $2,000 per month for the office/warehouse space is available upon closing. The ample land provides opportunities for future expansion.