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Updated about 6 years ago on . Most recent reply

User Stats

34
Posts
9
Votes
George Gao
  • Investor
  • Katy, TX
9
Votes |
34
Posts

38-unit Storage Facility

George Gao
  • Investor
  • Katy, TX
Posted

There is a 38-unit self storage facility listed on MLS with average rent of $60/unit; Built in 1998; located in Porter, TX, which is in Montgomery County (north of Houston). This is a mom-and-pop operation. The area is blue-collar and 3mi off a busy interstate. Annual expenses about $5-$6k. Asking $280k, implies a 10cap with 17% coc. Does this seem like a too small of a facility? Is there an average size for storage facility that's needed to run optimally?

Most Popular Reply

User Stats

244
Posts
140
Votes
Justin Frank
  • Rental Property Investor
  • Tacoma, WA
140
Votes |
244
Posts
Justin Frank
  • Rental Property Investor
  • Tacoma, WA
Replied

@George Gao

38 units is very small but it is real estate that you could own so if you see potential to cash flow and have a good exit plan I would say it would be worth it. Is there room to expand or is there demand for more units? I look at and analyze everything. 

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