Traditional Site

591 Pinson Road - Forney, TX  Forney

For sale is Town & Country Mini Warehouses located in the growing suburb of Forney, Texas (greater Dallas/Fort Worth area). The facility is composed of 19,657 NRSF and offers tenants 21 various sizes of non-climate units, roll up doors, an on-site management, with convenient access to US Highway 80. The facility has consistently been in the mid-to-high 90s in occupancy and at various times been at full occupancy! Town & Country throughout the year of existing ownership has provided stable management, above market occupancy and low market rents. The existing owner has made this Self Storage a turnkey investment with the ability to increase rents on day one IF desired. With 10 percent down (SBA), the next investor should be able to obtain an approximate cap rate of 8.50 percent Day one of the investment. Rents have not been increased at Town & Country in the past four to five years, and the current owner has only been on-site twice time during this same period. The unit occupancy as of 12-31-2018 is ~92 percent and the reported square footage occupancy is ~94 percent. With below-market rental rates, the next owner can increase the yields and returns by slightly adjusting rents upon acquisition. Town & Country should also provide long-term cash flow and strong occupancy, based upon its historical performance. Town & Country Mini Warehouses is an ideal first time investment with as little as $150,000 down (thru SBA Financing) . The Town & Country Mini Warehouses is being offered for sale at a 8.50 cap rate on the owner's 2018 stated actuals and an overall total rate of return of ~20.00 percent. The cash-on-cash return for Town & Country Mini Warehouses is 12.00 percent at the asking price. Also, two MAI appraisals were performed on the site as of 2018 (last one being completed in September '18) and both reflected an appraised value on the Income Approach at $1,350,000. Please contact the listing agent with any questions or comments. Town & Country Mini Warehouses is currently available and on the market for sale.

$1,285,000
Property Type:
Traditional Site 
Status :
Available 
Gross Square Feet:
20,311 Sq Ft
Rentable Square Feet:
19,657 Sq Ft
Acreage:
1.27 Acres
# of Floors:
1 Floor
Number of Buildings:
7 Bldg(s)
Number of Units:
204 Unit(s)
Room For Expansion
No
Cap Rate:
8.50 %
Days Listed:
29 Days
Updated:
01/25/19 

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