overview video
investment highlights
- 2020 & 2022 CONSTRUCTION // Stallion Storage also provides further expansion capabilities by converting the outdoor parking to enclosed units and has approximately 1/3 acre of frontage.
- MONTGOMERY COUNTY – TENTH FASTEST GROWING COUNTY IN THE UNITED STATES // US Census Bureau
- ENORMOUS RETAIL & RESIDENTIAL NEARBY ECONOMIC DRIVERS // Stallion Storage sits in the trade area of master planned communities such as Tavola and Valley Ranch along with retail and entertainment areas such as Grand Texas, Valley Ranch Town Center and Randall Reed Stadium.
- 49,635 NRSF // 143 Units + 35 Outdoor Parking Spaces
- FRONTAGE ON FM 1485 // Nearly 15,777 Daily Traffic Counts. The facility also is close to the intersection of US High-way 69/59 and The Grand Parkway (TX-99)
- $52.38 PER NRSF // 8.61 Percent End of Year 2 Cap Rate
- AVERAGE HOUSEHOLD INCOME // $92,432 in a three-mile radius
- UPSIDE IN UTILITZING PROFESSIONAL MANAGEMENT // Stallion Storage is individually managed by a local developer who is more focused on running his medical sales business.
property summary
Stallion Storage is a 178 unit, 49,635 net rentable square foot self-storage facility located in New Caney, Texas. The property sits on just over 4.6 acres of land and was constructed in two phases between 2020 and 2022. There are seven single-story self-storage buildings along with 28 outdoor parking spaces in the unit mix. Stallion Storage has many amenities including a gated entry with a digital keypad, an on-site management office, 24/7 video surveillance throughout the facility, a concrete entrance, road base driveways with crushed concrete, and units with roll up doors.
Stallion Storage fronts on FM 1485 approximately 700 feet from the intersection of Loop 494 and sees 15,777 vehicles pass by daily. The asset is strategically positioned less than two miles north of the intersection of US 59/69 and the Grand Parkway (TX-99), Houston’s outermost loop. This intersection is the home of Valley Ranch Town Center which is a retail hub for the area and derives its name from the neighboring Valley Ranch master planned community. In addition to numerous national retailers that dot the nearby landscape the area features Randall Reed Stadium which is the 8,000 seat high school football home of the New Caney ISD. To the north of Stallion Storage is Tavola which is another prominent master planned community and Grand Texas which is an entertainment district that when completed will feature several shopping, dining and amusement attractions. Currently the complex features the Big Rivers Water Park and the Grand Texas RV Resort. Given all of the residential and retail activity, it comes as little surprise that according to the United States Census Bureau Montgomery County was the tenth fastest growing county in the United States between 2021 and 2022. The eastern portion of the county where Stallion Storage is located is one of the focal points of the growth. The facility sits in a well-to-do area where the average household income is around $92,432.
Stallion Storage will allow an investor to acquire a newly completed asset in a rapidly growing area of Greater Houston for under $60 per NRSF. The property is self-managed by the developer and this is the only storage facility he owns. The Seller is heavily involved in a medical sales business company that he owns and operates and doesn’t have the desire to devote the time or energy to the operations of Stallion Storage. As of November 30th, 2023, Stallion Storage was approximately 70 percent physically occupied by unit and 74 percent physically occupied by square footage. In addition to increasing occupancy, upside could be attained by capturing ancillary revenue streams such as tenant insurance. Furthermore, the property is fully detained allowing the existing outdoor parking areas and 1/3 of an acre of frontage to be utilized for additional improvements.
