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1017 Waldron Road

Cumbia Real Estate Holding LLC Sells 204-Unit Self Storage Facility In Corpus Christi
SOLDSelf Storage

Cumbia Real Estate Holding LLC Sells 204-Unit Self Storage Facility In Corpus Christi

1017 Waldron Road

Building Size

16,880 SF

Asset Type

Self Storage

Closing

May 8, 2025

AI

The property involved in this transaction is a self-storage facility located at 1017 Waldron Road in Corpus Christi, featuring 204 units and comprising a total area of 16,880 square feet.

Summary of transaction details:

Bill Bellomy, Michael Johnson, Logan Foster, and Hugh Horne represented Cumbia Real Estate Holding LLC in the transaction, successfully securing a local buyer for the automotive storage facility, Overflow Garage.

Players

Bill Bellomy

Versal

Broker

$19.5M

vol

26 deals

Broker

Corpus Christi Self Storage Market Snapshot

Boundary boundary · Self Storage · Sale transactions

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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