overview video
investment highlights
- 110,465 NRSF | 508 UNITS // The property was initially constructed in 2017 and underwent a 48,425 NRSF expansion in late 2023.
- LAKE LIVINGSTON LOCATION // Lake Livingston is the third largest lake in Texas and a recreational hotspot.
- CLASS A FEATURES // Amenities include roll-up doors, concrete driveways, on-site manager’s office, video surveillance, and gated entrance with digital keypad entry.
- WELL MAINTAINED ASSET // The asset is owned and self-managed by a local developer who built the proper-ty and isn’t focused on being an operator.
- MANAGEMENT UPSIDE // Rental rates have only been increased twice in the property’s seven years of existence.
property summary
Lakeview Boat/RV & Self Storage is a 508-unit, 110,465 net rentable square foot storage facility located in Onalaska, Texas. Onalaska is located on Lake Livingston approximately 70 miles northeast of downtown Houston. The property sits on 5.93 acres with 8 single-story buildings consisting of 145 climate-controlled spaces (19,675 NRSF), 314 drive-up non-climate storage units (67,790 NRSF) and 46 covered parking spaces (23,000 NRSF). The facility fronts on US Highway 190 and sees over six thousand vehicles pass by daily. The property was initially constructed in 2017 and underwent a 48,425 square foot expansion that was completed in December 2023. The asset features a mix of concrete and crushed concrete driveways, roll up doors, a combination of wrought iron and chain link fencing around the property’s perimeter, video surveillance and an on-site manager’s office.
Lake Livingston is the 3rd largest lake in Texas with excellent water conditions that offer anglers some of the best bass and catfish opportunities the Lone Star State has to offer. The area is a recreational hotspot with around 5,000 campsites and 100 boat ramps amongst 3 major parks and a popular spot for vacation homes. Lakeview Boat/RV & Self Storage sits less than 5/10 mile from the Highway 190 bridge which is the only crossing over the lake.
The well-maintained asset is owned and self-managed by a local developer who built the property and is considerably more focused on his other businesses. Rental rates have only been increased twice in the 7 years of the property’s existence. Offered at just over $56 per NRSF, the investment offers an opportunity to get a large asset with a significant new construction component at a relatively low-cost basis and improve operations with more sophisticated management strategies.
As of July 31st, 2024, the property was approximately 66 percent physically occupied by square footage.
