Move It Self Storage Austin is a class 'A' self-storage facility located in the rapidly growing South Congress corridor of Austin, Texas. The property features traditional drive-up units, climate-control units, concrete driveways, and steel and metal framing with standing seam roofs. There is an oversized office for retail sales and Uhaul truck rentals. Security features include perimeter fencing, security cameras, and gated entry with keypad access.
The property was built in phases from 1999 to 2016. An 11,300 NRSF climate-controlled addition was completed in June 2016. New ownership will be able to take advantage of this new building by continuing to lease the vacant space and bring rental rates to market averages. 2015 gross income was $436,778. Annualized 2016 gross income is $561,099. This gain represents a 28% increase in year-over-year income.
Move It Self Storage Austin is located just off South Congress near the Stassney intersection. This property is located only +/- 5 miles from downtown Austin. There is visibility from Congress Avenue where traffic counts exceed 26,000 vehicles per day. There are more than 3,500 individual apartment units located within one mile of the facility. Six new multifamily developments totaling over 1,800 units have opened within five miles of the property since Q3 2015. There are an additional 5,000 units planned or under construction in the immediate vicinity.
Austin continues to be one of the most difficult markets to find development sites and have self-storage projects entitled. The only two self-storage development projects we are aware of are located at 5402 S. Congress and 8327 S. Congress. 5402 S. Congress is being developed by Austin based World Class Capital Group and is not expected to be complete until the middle of 2018. 8327 S. Congress is expected to be complete Q4 2017 and is being developed by Austin based Endeavor Real Estate Group. The additional supply of these units (200,000 sq. ft) will be more than off-set by the continued population growth of the South Congress / Stassney corridor.
The most exciting development with immediate proximity to Move It Self Storage is the St. Elmo Marketplace. This $150,000,000 development currently under construction features 50,000 sq. ft. of retail, 225,000 sq. ft. of office space, multiple parking garages, and an outdoor concert venue and hotel. Move It Self Storage is located 1 mile south of St. Elmo Marketplace.
|Property Type:||Traditional Site|
|Rentable Square Feet:||43,775 Sq Ft|
|Number of Units:||381 Unit(s)|
|Room For Expansion||No|
|Days Listed:||71 Days|
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