investment highlights
- THREE MILE POPULATION +/- 52,000 // Projected to increase to 7.8 percent over the next five years.
- APPROXIMATE 8,200 TRAFFIC COUNT ON LEE ROAD // Less than a half mile from the intersection of the Sam Houston Tollway and US 69/59 that boast a combined 278,970 daily vehicles.
- STABLE ASSET WITH UPSIDE // 92 Percent Physical Occupancy (by NRSF) as of the end of the 2nd quarter, 2024.
- IAH LOCATION // Less than two miles from George Bush Intercontinental Airport with a daytime population of over 105,000.
property summary
My Garage Self Storage is a 27,280 net rentable square foot self-storage facility located in Humble, Texas, a busy north Houston suburb approximately 13 miles from downtown. The property is on approximately 2.52 acres with three metal-framed single-story buildings consisting of 121 climate control units (10,900 NRSF), 88 drive-up non-climate storage units (11,450 NRSF), and an office warehouse building that’s nearly 5,000 square feet. There are also 21 outdoor parking spaces included in the unit mix. The facility was originally built in 2002 and has many amenities including, but not limited to, roll up doors, concrete driveways, perimeter wrought iron fencing and a full-service on-site manager’s office.
My Garage Self Storage benefits by being in the immediate area of George Bush Intercontinental Airport (IAH), one of the busiest airports in the world. There are nearly 52,000 residents living within three miles of the facility which makes it a convenient location for household goods and with a daytime population of over 105,000, the asset also provides an optimal site for business storage. My Garage Self Storage fronts on Lee Road with 8,209 in daily traffic counts and furthermore is close to one of the busiest interchanges in Greater Houston. The facility sits just 2/10ths of a mile from the Sam Houston Tollway (Houston’s middle loop) and about 5/10ths of a mile from US 69 (the Eastex Freeway), an intersection that boasts 278,970 vehicles per day.
The investment offers a purchaser the opportunity to own a stable self-storage facility that has undergone significant physical upgrades in recent years in a well populated area of Houston. The facility has enjoyed 90 percent plus occupancy and by continuing to reduce physical vacancy, limiting concessions, and managing rents upward, an investor could see an end of year one unlevered return of over 6.5 percent within 12 months.
