River Oaks Storage – Houston, Texas

Property Location

4217 San Felipe Street
Houston, TX

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investment highlights

  • IRREPLACEABLE REAL ESTATE // Sandwiched Between River Oaks and Galleria Uptown
  • 25,096 DAILY TRAFFIC COUNTS // Frontage on San Felipe Street Inside Loop 610, Five Miles from Downtown
  • UPWARD TRENDING ASSET // Actual Occupied Rates Have Increased 15.6 Percent Over the Last 6 Months
  • RIVER OAKS, ONE OF THE COUNTRY’S WEALTHIEST NEIGHBORHOODS // Three Mile Average Household Incomes: +/- $160,000
  • HEAVILY POPULATED AREA // Three Mile Population +/- 185,000 | Daytime Population +/- 360,000
  • NEAR HOUSTON’S MOST PROMINENT RETAIL CORRIDOR // Houston Galleria, Highland Village, and Uptown Village and River Oaks District are all nearby
  • 18 LUXURY MULTI-FAMILY PROJECTS CONSTRUCTED SINCE 2017 WITHIN TWO MILES // Five Projects Slated for Completion by 2025

property summary

River Oaks Storage is a 506 unit, 54,344 NRSF self-storage facility in Houston, TX. The property is one three story building that was initially constructed in 1955 and renovated into a storage facility in 1993. Over 96 percent of the units are climate-controlled (52,247 NRSF) and there are seven non climate units (1,050 NRSF) and a wine storage area with 69 units that total 1,047 NRSF. The facility sits on just over 2/3 of an acre and features numerous amenities found in institutional quality storage facilities including, but not limited t o a newly renovated full-service manager’s office and showroom, an asphalt parking area, units with roll-up doors, and video surveillance cameras throughout the property.

River Oaks Storage is about five miles west of downtown in one of the busiest and wealthiest areas of the United States. The property fronts on San Felipe inside Loop 610 (Houston’s Inner Loop) and approximately 25,000 vehicles pass by the facility each day. The densely populated trade area around River Oaks Storage is home to approximately 185,000 people and has average household incomes which hover around $160,000. Additionally, the upscale urban location is home to a daytime population of nearly 360,000 within three miles.

In addition to its wealthy single-family surroundings this inner loop asset benefits from an abundance of nearby high-end retail areas, luxury apartments and hotels. The population grew over 15 percent in the previous decade with an eight percent growth expectation by 2026. There have been 18 midrise or high-rise luxury multifamily projects constructed in the past five years within two miles of the property and five more are scheduled for completion by 2025. The area is also Houston’s most prominent retail area with several highlighted by the Houston Galleria which is the largest shopping mall in Texas, Highland Village, and the River Oaks District all of which are within a ¾ mile of River Oaks Storage.

United Properties Group manages the asset for the California based ownership group. Operations at the property have been thriving with actual occupied rates having risen nearly 16 per cent in the past six months. The prized location and continued growth potential of River Oaks Storage makes it a desirable investment for a sophisticated storage investor.

Broker Information

Dave Knobler

Senior Managing Director

Phone: 713.452.4293
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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