105 Creekwood Landing Dr - Self-Storage Facilities FOR SALE


Richwood, TX 77531
$1,500,000 USD
281-398-4588
105 Creekwood Landing Dr, Richwood, TX for Sale
$1,500,000 USD
Self-Storage Facilities - FOR SALE
1/16
null | 4.34% Cap Rate

105 Creekwood Landing Dr
Richwood, TX 77531


HIGHLIGHTS

  • Completed in late 2023
  • Stabilized occupancy
  • Approximately 7 acres left for expansion
  • Highway 288 Frontage, 17,000 VPD
  • Population of 50,000 within 5 miles of the property
  • 704 multi-family units surrounding the property on 3 sides

OVERVIEW

South Texas Boat & RV Storage is a 72 unit, 26,045 NRSF Boat & RV Storage investment /development opportunity at 105 Creekwood Landing Dr., Richwood, Texas (Lake Jackson MSA). This 11.21 acre site is located on Highway 288 which sees as many as 17,000 passing vehicles per day (Per TxDOT). Surrounding the site on Creekwood Dr. and Timber Creek Dr. are 3 class A apartment complexes totaling 704 units. The area surrounding the property is affluent and densely populated with over 50,000 residents within the 5-mile radius and household incomes averaging roughly $100,000 which is 25% higher than the national average. Completed in late 2023, South Texas Boat & RV Storage is a state of the art facility that is fully fenced and gated with LED lighting, 24/7 digital camera surveillance and uniquely coded keypad access for each tenant. Additionally, the 4 metal-over-steel buildings are fully enclosed and rated for 145 MPH winds. Tenants enjoy uncommon features such as a community ice-maker, multiple free boat/vehicle wash-down areas, timed lights and electric outlets in every unit for trickle chargers and a compressed air station. Achieving 93% occupancy in just one year, South Texas Boat & RV Storage is a well-established, stabilized facility which benefits from excellent visibility on Highway 288, direct exposure to over 700 apartment units, and close proximity to over 18,000 households within 5 miles. With approximately 6 developable acres remaining, the asset is poised to benefit from immediate expansion in an MSA that is significantly underserved for both boat storage and climate controlled-mini storage. As Brazoria County expands (Greater Houston Partnerships estimates over 574,000 residents by 2040), South Texas Boat & RV Storage is set to be a premier development opportunity in the region.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$87 USD /SF

CAP RATE

4.34%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

South Texas Boat & RV Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

11.21 AC

LAND SF

488,308 SF

ZONING

-

APN/PARCEL ID

7251-0002-110

ASK ABOUT THIS PROPERTY

Craig RiceCSD Realty CompanyMore Info
281-398-4588

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Craig RiceCSD Realty CompanyMore Info
281-398-4588

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.