Published on: Friday, June 14, 2024
Updated on: Friday, June 14, 2024
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About the Lister
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Name: MARTY CLECKLER
Company: Covere Global Real State Investment Services
Office Phone: (817) 438 0808
Cell Phone: (806) 438 8500
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Financing  Business  Material
  KEYSTONE STORAGE
5710 41st Street Lubbock Texas , 79407
5710 41st Street Lubbock Texas                                                                                               , 79407Covere Global Real State Investment Services
Listing ID: CL-Texas-10701

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): Contact Lister
Net Operating Income: $93,374
Commission Split (%): 0
Quick Glance
Listing ID: CL-Texas-10701
Status: Price not Disclosed
Financing: Third Party Financing
Occupancy: N/A
Year Build: 1983
Building Size: 15,150.00 SqFt
Lot Size: N/A
No of Stories: 1
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: No
Property On Ground Lease: No
Building Status: Existing
Listing Summary
Keystone Self Storage is a 132-unit plus office storage facility built in 1983. It features a market attractive unit mix with below market rents.
Complete Details
Year Build: 1983
Building Size: 15,150 SqFt.
No of Stories: 1
Total Lot Area: N/A Acre
No of Parking: N/A
No of Total Units: 133
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: Not Specified
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 0%
Full Description
Keystone Self Storage is a 132-unit plus office storage facility built in 1983. It features a market attractive unit mix with below market rents. The seller is occupying 29 units (22%) long term for construction projects/renovations at apartment properties owned. The seller will sign a lease for 2 years at market. All other tenants are month to month allowing the purchaser to raise rents quickly to market. This well-located asset is positioned along South Loop 289 across the loop from the South Plains Mall. The South Plains Mall is the largest shopping center between Fort Worth and Albuquerque at 1.2 million square feet. As such, it is the only super regional mall in West Texas. This desirable west Lubbock location provides easy access to all major employers and all major shopping areas within the city. The current rents are well below market and offer an opportunity to quickly improve investor returns.
Additional Properties
Property Highlights
  • Number of Units: 133
  • Number of Buildings: 6
  • Style: Self Storage/Mini-Storage Facility
  • Construction: Prefabricated Metal
  • Exterior: Metal
  • Roof: Flat
  • Roof Covering: Metal
Actual - Cash Flow
Cash Flow Year Gross Income Effective GrossIncome Operating Expenses Net Operating Income Pre Tax Cash Flow Cap Rate
2024
$129,573
$0
$36,199
$93,374
$0
0%
Cash Flow for Current Listings
Listing Location
Attached Documents
  • Download | Keystone Self Storage Offering Memo.pdf ( 1,833.50KB)
Lister's other Properties
Address: 2400 44th Street , Lubbock Texas 79412
Listing ID: RL-Texas-12582
Listing Type: Residential
Category: Residential Type - Apartment
Status: Active
Created On: 10/25/2024
Modified On: 10/25/2024
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Address: 5502 58th St , Lubbock Texas 79414
Listing ID: CL-Texas-12567
Listing Type: Commercial +Lease
Category: Office - Office Condo
Status: Active
Created On: 10/24/2024
Modified On: 10/24/2024
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Address: 6402 Albany Ave , Lubbock Texas 79414
Listing ID: RL-Texas-12564
Listing Type: Residential
Category: Residential Type - Apartment
Status: Active
Created On: 10/24/2024
Modified On: 10/24/2024
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Address: 5128 Aberdeen Avenue, , Lubbock Texas 79414
Listing ID: RL-Texas-10703
Listing Type: Residential
Category: Residential Type - Apartment
Status: Active
Created On: 6/14/2024
Modified On: 6/28/2024
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Address: 1717 48th Street , Lubbock Texas 79412
Listing ID: RL-Texas-10702
Listing Type: Residential
Category: Residential Type - Apartment
Status: Active
Created On: 6/14/2024
Modified On: 6/14/2024
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