overview video
investment highlights
- ASSUMABLE CMBS LOAN // Loan Balance: $3,000,000 | Term: Eight Plus Years (Maturity Date – June, 6th 2032) | Interest Rate: 5.319 Percent (Interest Only)
- INFILL DALLAS LOCATION // The property is four miles from downtown and sits inside 635 which is Dallas’ inner loop.
- UNDERSUPPLIED MARKET // There is 7.31 square feet of storage per capita in the three mile radius.
- 113,522 THREE MILE POPULATION // 4.63 Percent Five Year Projected Population Growth.
- FRONTAGE ON MILITARY PARKWAY // 16,010 Daily Traffic Counts.
property summary
Absolute Self Storage is a 34,980 net rentable square foot self-storage facility located in Dallas, Texas. The property sits on approximately 2.57 acres and consists of 285 non-climate units and 52 outdoor parking spots. The facility has eight single-story buildings with block construction and a mix of concrete and asphalt driveways. Absolute Self Storage was initially constructed in 1979, but the owner has remodeled the property since purchasing the asset in 2018. The property has numerous amenities including, but not limited to, security lighting, perimeter fencing, a marquee sign, video surveillance, and an electronically controlled wrought iron access gate with digital keypad access. There is also an on-site manager’s office, video surveillance, LED security lighting and a perimeter wrought iron fence.
Sitting on Military Parkway, the facility is well situated to accommodate the 113,522 residents that live within three miles of the property. Absolute Self Storage sits in an infill location approximately four miles from downtown Dallas inside 635 (Dallas’ inner loop) and sees approximately 16,000 cars pass by daily.
This asset should create a hassle free, stable investment for a buyer. Since 2018 ownership has painted the facility, repaired the roofs, and repaired or replaced several new doors. Absolute Self Storage is managed by the owner who is based out of Las Vegas and the property will support professional 3rd party management. Absolute Self Storage offers an investor the opportunity to acquire a well-located asset in a densely populated area of Dallas with limited competition. According to Yardi Matrix, there is only 7.31 net rentable square feet of self-storage per capita in the three-mile trade area. There is an assumable $3,000,000 CMBS loan at a 5.319 percent interest rate (interest only) that comes due in June 2032.
As of November 30th 2023, the property is 80 percent physically occupied.
