overview video
investment highlights
- BELOW REPLACEMENT COST // Entry point into one of East Texas’ most economically dynamic mid sized cities at around $35/NRSF with an eight percent year two proforma cap rate.
- TWO FACILITY, 196 UNIT PORTFOLIO TOTALING 50,105 NRSF // The properties are in infill Longview locations, positioned just 5.5 miles apart for operational efficiency and scale.
- FULL SERVICE HUB AT PLILER PRECISE ROAD // Near high traffic corridors in prime North Longview area with Longview High School and the Longview Mall retail district in the trade area.
- ANNEX LOCATION ON EAST WHALEY STREET // Approximately one mile from downtown Longview the asset provides proximity to the city’s core and employment centers.
- NUMEROUS AMENITIES // Perimeter fencing, gated keycode access, 24/7 video surveillance, security lighting, asphalt drive aisles, and roll-up doors.
- PORTFOLIO POTENTIAL // This offering is part of the Storage Plus and Top Lock Storage 5 State – 25 Property Portfolio, but can be purchased individually.
property summary
The Storage Plus of Longview Portfolio includes two self-storage facilities approximately 5.5 miles from one another in Longview, Texas. The properties sit on a combined +/- 5.54 acres of land, have eight single-story buildings consisting of 196 total units (192 drive-up non-climate, three outdoor parking spaces and one covered parking space) and a combined 50,105 NRSF. The facilities have numerous amenities including but not limited to video surveillance, gated entries with digital keycode access, roll-up doors, and asphalt driveways. The Pliler Precise Road facility has block construction and serves as the hub and features a full-service onsite manager’s office and residence.
The Pliler Precise Road location is on the north side of Longview and sits about 200 feet from the intersection of Junction Road, one of the city’s primary thoroughfares. The facility is less than two miles from both Longview High School and the numerous national retailers surrounding Longview Mall, placing it in a high traffic, high visibility corridor. East Whaley Street runs through the middle of downtown Longview, and the facility is about a mile from the city center. Longview is one of the most economically dynamic mid-sized cities in East Texas, with massive manufacturing, petrochemical, logistics, and healthcare industries driving sustained growth and population stability.
Offered at around $35 per NRSF, The Storage Plus of Longview Portfolio represents a compelling value-add opportunity in a market with multiple demand drivers. The portfolio is only about 76 percent physically occupied with an eight percent year two proforma cap. With meaningful upside in lease-up and rate growth, the assets provide an investor with an opportunity to enhance cash flow and improve value.
