Listing Summary
Honeycrisp Self Storage - Millsap and Honeycrisp Self Storage - Tolar are two strategically positioned storage facilities within the Dallas - Fort Worth - Arlington Metropolitan Statistical Area
Full Description
Honeycrisp Self Storage - Millsap and Honeycrisp Self Storage - Tolar are two strategically positioned storage facilities within the Dallas - Fort Worth - Arlington Metropolitan Statistical Area, which is home to over 8.1 million residents. Located at 177 Fairview Rd, Millsap, TX 76066, and 205 Tolar Cemetery Rd, Tolar, TX 76476, respectively, these properties offer a combined pricing guidance of $972,000.
The Millsap facility, priced at $425,000, features a cap rate of 5.03% with 7,800 square feet of enclosed storage space across 64 units, and a 70% occupancy rate on a halfacre lot. The Tolar property, available for $547,000, features a 7.20% cap rate with 8,400 square feet of enclosed space across 68 units, and an 80% occupancy rate on a slightly larger lot of 0.52 acres. Both properties were built in the late 1990s, with construction materials comprising mainly metal and steel, underscoring their durability.
Located near significant roads such as Fairview Lane and Donley Street with access to major highways like US Highway 180 for Millsap and US Highway 377 for Tolar, these facilities benefit from robust traffic flows of 1,040 and 10,721 vehicles per day, respectively. This accessibility is a critical feature, enhancing customer convenience and the facilities' visibility, important factors for successful storage operations.
Both properties boast modern management features, including automated operations and Easy Storage Management Software, facilitating efficient administrative handling. Both facilities have potential for rent and occupancy increases as well as expansion, which presents an opportunity for a new owner to enhance value and boost returns.
Seller is offering financing at the interest only rate of 6.5% for three years, providing the investor with cash flow from day one of operations!
The strategic location within a high-growth MSA, combined with seller financing options and the potential for immediate cash flow, makes the Honeycrisp Self Storage properties an attractive investment proposition for those looking to enter or expand within the storage market. Potential investors or buyers seeking more detailed information can visit the properties' dedicated website at Honeycrisp Self Storage to explore investment opportunities and operational details
Quick Glance
- Listing ID:
CL-Texas-10451
- Status:
Active
- Year Build:
2001
- Building Size:
16,200 SqFt
- Lot Size:
44,257.00 Acre