Cumberland Storage

Property Location

8225 S Broadway Ave
Tyler, TX 75703

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investment highlights

  • “Class A” Institutional Quality Asset
  • Fronts on South Broadway Avenue – Daily Traffic Counts 33,181
  • 61,713 NRSF | 539 Units
  • 99 Percent Physical Occupancy (Facility 100% Occupied on June 1st)
  • Tyler, TX – UHaul’s 10th Ranked Growth City in the United States
  • United States 4th Fastest Growing Income Per Capita – Bloomberg
  • Average Household Income – 1 Mile $106,411 | 3 Mile $94,351
  • University of Texas Medical School Opening in 2023

property summary

Cumberland Storage is a 539 climate-controlled unit self-storage facility in Tyler, TX. The front three story building was constructed in 2016 and the rear single story widespan building which was originally a roller rink built in 1999 was converted to storage in 2012. The 61,713 NRSF sits on an approximately 2.4 acre parcel. Cumberland Storage features numerous amenities found in modern institutional quality storage facilities including, but not limited to a full-service manager’s office and showroom, video surveillance cameras throughout the property, several personalized key-pad entrances, and multiple covered loading/unloading areas.

Cumberland Storage is near one of the busiest and most desirable intersections areas of Tyler fronting on S. Broadway Avenue where more than 33,000 vehicles pass by the facility each day. The asset benefits from an abundance of nearby economic drivers such as numerous national and regional retailers, medical facilities, and schools. Cumberland Storage is next to Christus Mother Frances Hospital and the average household income is around $100,000.

The asset quality and prized location of Cumberland Storage are only surpassed by the stability of the facility. At the beginning of May the property had zero vacancies out of the 539 units. This is not a recent phenomenon as the property has been consistently over 95 occupied.

Long recognized as a major hub of east Texas, Tyler has experienced a recent boom in growth extending past its regional status. Tyler is ranked as UHaul’s 10th ranked growth city in the United States. While Tyler’s fame for over a century has been as the rose capital of America and being the county seat of Smith County, it is also a center of higher education with the University of Texas at Tyler, Tyler Junior College and Texas combining for over 23,000 full-time students. The Tyler area is home to 3 area hospitals and over a quarter of the workforce is employed in the healthcare industry. Additionally, the University of Texas System is establishing a medical school that will open in 2023 and bring an additional $1.9 billion annually to the city as well as create over 18,000 full time jobs. Other examples of Tyler’s escalating prominence can be seen in a new downtown convention center being built, having the 4th largest Chamber of Commerce in Texas, and being ranked by Bloomberg as the city with the 4th highest per capita income growth in the country.

Broker Information

Dave Knobler

Senior Vice President

Phone: 713.452.4200
Email: dknobler@marcusmillichap.com
License: TX 606252

Charles "Chico" LeClaire

Executive Managing Director

Phone: 303.328.2025
Email: cleclaire@marcusmillichap.com
License: CO EA00147681

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