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10 Federal Sells Self Storage Portfolio In Fort Worth For $6.4M With Marcus & Millichap
SOLD
$6,400,000
+ 3
Texas
See Similar DealsSold 12/14/2022
SOLD
10 Federal Sells Self Storage Portfolio In Fort Worth For $6.4M With Marcus & Millichap
Sold 12/14/2022
+ 3
Summary
Transaction Type:Sale
A portfolio of self storage properties located in the Federal Texas area has been sold for a total of $6,400,000. The portfolio, situated on approximately 5.07 acres, consists of 585 units with a price per unit of $10,940. The total square footage of the properties is approximately 68,030, with a price per square foot of $94.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $6,400,000
- Address: Federal Texas Portfolio
- Market: Fort Worth
- Number of Units: 585
- Price Per Unit: $10,940
- Total Square Footage: 68,030
- Price Per Square Foot: $94
The seller of the portfolio was 10 Federal. The transaction was facilitated by brokers Stacey Gorman, Eric Jones, Cameron Bradford, Sam Slocum, Brandon Karr, Danny Cunningham, and Tim Speck from Marcus & Millichap.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$341,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,737.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,339.27
Annual Debt Service$364,071.18
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