Marcus & Millichap Sells Texas Boat & Self Storage In La Marque, Galveston County
La Marque
Building Size
53,675 SF
Asset Type
Self Storage
Closing
Jul 26, 2023
AI
Texas Boat & Self Storage, a 53,675 square foot self-storage facility located in La Marque, Texas, has been recently sold. Situated in a southeastern Houston suburb in Galveston County, this property spans across 3.81 acres and features a total of 179 units. Constructed in 2010, the self-storage facility has provided a significant return on investment to the seller's investors in a relatively short period of time.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: Not specified
- Market: La Marque
- Square Footage: 53,675
- Units: 179
- Acres: 3.81
The sale of Texas Boat & Self Storage was facilitated by brokers Dave Knobler and Charles "Chico" LeClaire from Marcus & Millichap. Their expertise and representation played a crucial role in guiding this successful transaction.
Players
Galveston Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93