overview video
investment highlights
- 40,080 POPULATION WITHIN A THREE-MILE RADIUS // 3/10 mile from the entrance to Valley Ranch Master Planned Community.
- MONTGOMERY COUNTY IS THE TENTH FASTEST GROWING COUNTY IN THE UNITED STATES // According to US Census Bureau.
- 33,620 NRSF // 237 Units
- APPROXIMATELY ONE ACRE OF ADDITIONAL LAND THAT HAS FRONTAGE ON FM 1314 INCLUDED // Over 40,000 Daily Traffic Counts. The facility is also about one mile west of US Interstate 69/59 and three miles southeast of The Grand Parkway (TX-99).
- $75.85 PER NRSF // 6.60 Percent Pro Forma End of Year 1 Cap Rate
- OUTSTANDING NEARBY DEMOGRAPHICS // The average household income around the 1314 Mini Storage trade area is $118,385.
- INDIVIDUALLY MANAGED BY ORIGINAL DEVELOPER // Upside in utilizing professional management.
property summary
1314 Mini Storage is a 237 unit, 33,620 net rentable square foot self-storage facility located in Porter, Texas. The property sits on around 2.91 acres of land, was initially constructed in phases between 1985 and 1992 and contains seven single-story self-storage buildings with drive-up units. 1314 Mini Storage has many amenities including a gated entry with a digital keypad, a separate onsite management office in front of the entrance gate, 24/7 video surveillance throughout the facility, concrete driveways, and units with roll-up doors.
1314 Mini Storage fronts on FM 1314 approximately one mile from the intersection of US Interstate 69/59 and sees over 40,000 vehicles pass by daily. The asset is about 3/10 mile west of the entrance to Valley Ranch which is a 1,400 acre master planned community. In addition to the nearly 2,000 single family homes, Valley Ranch Town Center serves as a hub for the area with numerous national retailers and is home to Randall Reed Stadium which is the 8,000 seat high school football home of the New Caney ISD. To the south of 1314 Mini Storage is Oakhurst which is another prominent master planned golf community. Given all the residential and retail activity it comes as little surprise that according to the United States Census Bureau Montgomery County was the tenth fastest growing county in the United States between 2021 and 2022 and the eastern portion of the county where 1314 Mini Storage is located is one of the focal points of the growth. The facility sits in a well to do area where a 40,080 population within three miles of the facility has an average household income of around $118,385.
1314 Mini Storage will allow an investor to acquire a storage asset in a rapidly growing area of Greater Houston for around $76 per NRSF. The property is self-managed by the original owner/developer. As of May 31st, 2024, 1314 Mini Storage was approximately 85 percent physically occupied by units and 89 percent physically occupied by square footage with below market rents. In addition to increasing rents and occupancy, upside could be attained by capturing ancillary revenue streams such as tenant insurance. Furthermore, the property has approximately an acre of additional land included in the offering.
