facebook
Traded Co logo
Submit

Morningstar Properties Acquires Self Storage Property In Henderson, Nevada For $19.5M

Property Image
SOLD
$19,500,000

Nevada

See Similar Deals
Self Storage102 SF
Sold 12/13/2022
the dealplayerscompscontact
Property Image
SOLD

Morningstar Properties Acquires Self Storage Property In Henderson, Nevada For $19.5M

1650 West Horizon Ridge Parkway, Henderson, Nevada 89012, United States

See Similar Deals
Self Storage102 SF
Sold 12/13/2022
the dealplayerscompscontact
Contact now

Summary

NEVADA
Asset Type:Self Storage
Price Per Square Foot:$191,176
Total Square Footage:102 SF
Transaction Type:Sale

The self-storage property located at 1650 W. Horizon Ridge Parkway in Henderson, Nevada has been sold for a price of $19,500,000. The asset comprises approximately 4 acres of land and spans 102,699 square feet. The transaction took place on 12/13/2022.

Summary of transaction details

  • Property Type: Self Storage
  • Transaction Amount: $19,500,000
  • Address: 1650 W. Horizon Ridge Parkway
  • Market: Henderson, Nevada
  • ACRES: 4

The buyer of the property was Morningstar Properties, while HPI Real Estate acted as the seller. The sale was facilitated by brokers Bill Bellomy, Michael Johnson, Logan Foster, and Hugh Horne from Versal. First-Citizens Bank & Trust Co. provided the financing for the transaction. The property consists of 1,263 units with an average price per unit of $15,439. The price per square foot for the property is $190.

Players

Bill Bellomy
Versal
Bill Bellomy
26 deals$19.5M volume
BROKER
MP
Morningstar Properties
BUYER
HE
HPI Real Estate
SELLER

Details

SOLD
IMAGE: Bill Bellomy, Michael Johnson, Logan Foster & Hugh Horne DATE: 12/13/2022 ADDRESS: 1650 W. Horizon Ridge Parkway MARKET: Henderson, Nevada ASSET TYPE: Self Storage ~ ACRES: 4 BUYER: Morningstar Properties SELLER: HPI Real Estate BROKERS: Bill Bellomy, Michael Johnson, Logan Foster & Hugh Horne - Versal LENDER: First-Citizens Bank & Trust Co. SALE PRICE: $19,500,000 UNITS: 1,263 ~ PPU: $15,439 SF: 102,699 ~ PPSF: $190

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,039,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38