3917 Fm 2147 Horseshoe Bay, TX 78657

Property Details for 3917 Fm 2147

Year built

1980

Lot size

0.23 lot acres

Property size

4,800 SF

Property type

Commercial real estate

APN

37684

APU

37684

Description

This exceptional self-storage facility in Cottonwood Shores, TX, presents a compelling investment opportunity. Located at 3917 FM 2147 W, this single-story, 14,497 square foot facility underwent a complete renovation in 2021. The property boasts 52 units, currently operating at 89% occupancy (as of June 26, 2024), generating a strong pro-forma NOI of $78,000 and a pro-forma cap rate of 7.80%. The asking price is $999,999, translating to $68.98 per square foot and $19,230.75 per unit. Situated on a 0.35-acre lot, the property benefits from high visibility and accessibility due to its location off FM 2147. The area is experiencing significant population growth, with ongoing residential and mixed-use developments, limiting future competition as Cottonwood Shores restricts new storage facilities. Further enhancing the investment potential is a billboard lease generating additional income. The property's location between Horseshoe Bay and Marble Falls offers convenient access to amenities and a thriving community. The high occupancy rate, exceeding 91% over the past three years despite consistent rent increases, and the high percentage of tenants on auto-pay (70%) demonstrate the property's strong operational performance and stable cash flow. The proximity to the city police headquarters ensures a safe and secure environment. This is a truly passive investment opportunity with significant upside potential in a high-demand market. The gross lease structure simplifies management, making this an ideal addition to any portfolio.

Location Insight

City

Cottonwood Shores

County

Burnet

State

Texas

Longitude

-98.3223

Latitude

30.5494

Property Tax & Assessments