CRAIG RICECSD REALTY COMPANY281-398-4588 OFC713-417-1626 CELL
EXCLUSIVE SELF-STORAGE OFFERINGGLENN HEIGHTS BARGAIN STORAGE
1713 HAMPTON ROAD & 111 W. BEAR CREEK ROADGLENN HEIGHTS, TX 75154
PRESENTED BY
PROPERTY DETAILS
PRICE: $7,667,000PRICE/SQFT: $74.15CAP RATE: $6.02%GROSS AREA: 103,395 sq. ft.NET RENTABLE AREA: 101,980 sq. ft.LAND AREA: 6.18 acresPARCELS: 60-07450-000-007-0100 60-07450-000-007-0000 65-02406-901-009-0000 65-02406-901-009-0100OCCUPANCY: 93% physicalYEAR BUILT: 1984REMODELED: 2015CONSTRUCTION: Concrete BlockROOF: Metal# BUILDINGS: 16DOORS: Metal Roll-Up Doors# OF UNITS: 625MANAGER’S APARTMENT: YesSPAREFOOT: NoTENANT INSURANCE: No
UPSIDE POTENTIAL
• Rental rates are 14% below market• No revenue management in place• Two tracts of extra land with street frontage, approximately 0.34 and 1.16 acres• Potential for truck rental or additional climate controlled units• No tenant insurance offered
OVERVIEW
Glenn Heights Bargain Storage is a 101,980 net-rentable-square foot facility resting on approximately 6.18 acres in Glenn Heights, Texas. The facility was built in 1984 and underwent major renovations in 2015.
• 625 units• Newly renovated facility (2015)• Automated gate access 365 days a year• On-site resident manager• Surveillance cameras and upgraded lighting
LOCATION
GLENN HEIGHTS BARGAIN STORAGE
1713 South Hampton Road & 111 West Bear Creek Road
These two locations are across the street from one another, operated from one management office on the Hampton side. There are two apartments, one at each site.
The facilities are located in Glenn Heights, Texas, two miles West of I-35 and approximately 19 miles from downtown Dallas. Glenn Heights is a fast growing area with several new sub-divisions and developments and has shown steady population growth in the past decade. Future job growth over the next ten years is predicted to be 41.80%.
The city plans on the intersection of Bear Creek and Hampton Road being the city center of Glenn Heights, with both streets being major arterials.
REGIONAL MAP
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