- STABLE ASSET // 93 Percent Physical Occupancy
- DENSELY POPULATED – GROWING AREA OF WEST HOUSTON // Three Mile Population of 148,901 | Five Mile Population of 328,410 | 10.44 Percent Projected Population Increase by 2028
- 103,872 NRSF // 252 Enclosed Units + Outdoor Parking
- SOLID DEMOGRAPHICS // Three Mile Average Household Income Of $84,154. The Facility Is About Five Miles From The Energy Corridor Which One Of Houston’s Major Employment Centers
- OWNED AND OPERATED BY THE ORIGINAL DEVELOPER WHO LIVES OUT OF THE AREA.
- ADJUSTED CAP RATE 6.21 PERCENT // End of Year One Pro Forma Cap Rate 6.50 Percent
- HARD CORNER SIGNALIZED INTERSECTION // 13,110 Combined Traffic Counts at Queenston Road and French Road
- TREMENDOUS VALUE ADD OPPORTUNITY // Asking Rates Are Around 45 Percent Below The Top Operators In The Submarket.
Bear Creek Boat & RV Storage is a 103,872 NRSF Boat/RV storage facility located in Houston, Texas in the western Bear Creek suburb. The property sits on four parcels that encompass approximately 10.7 acres of land and was constructed in phases between 1991 and 2012. Bear Creek Boat & RV Storage has 11 single-story buildings and 157 outdoor parking spaces. The facility has amenities including but not limited to, video surveillance throughout the property, an entrance gate with a digital keycode access, swing doors, and crushed concrete driveways.
One of the most attractive components of the facility is its busy west Houston location. There are around 328,000 people living within five miles of the facility and the population is expected to rise to nearly 11 percent by 2027. The customer base comes predominantly from within a 10-mile area where the population is 1,065,598. The average household income within three miles is over 84,000 and makes Bear Creek Boat & RV Storage a popular spot for area recreational users. The facility sits at the corner of the signalized intersection of Queenston Road which is a busy west Houston thoroughfare and French Road. The property is convenient to several major employment centers including the energy corridor which is about five miles away.
The out of area owner is the original developer and self-manages the asset. Bear Creek Boat & RV Storage has street rates that are in some cases 45 percent below the top of the submarket. As of September 2023, the property is approximately 93 percent physically occupied and has been highly occupied for years. By implementing more sophisticated marketing strategies to help get achieved rents to market, an investor could see a 6.50 percent end of year one unlevered yield.