Updated Sep 5, 2024
Marcus & Millichap Represents Seller In La Porte Property Sale At 11220 Spencer Hwy
11220 Spencer Hwy, La Porte, TX, 77...
Units
595
Asset Type
Self Storage
Closing
Jan 24, 2019
About this deal
AI
The transaction involved the sale of Spencer Mini Storage located at 11220 Spencer Hwy, La Porte, TX. This self-storage facility features a total of 595 units, comprised of 226 climate-controlled units, 286 non-climate-controlled units, and 83 vehicle parking spaces. The majority of the facility was constructed between 1994 and 1999, and it is situated within the La Porte market.
Summary of transaction details:
- Property Type: Self-Storage Facility
- Transaction Amount: Not Disclosed
- Address: 11220 Spencer Hwy, La Porte, TX
- Market: La Porte
- Seller's Representative: Charles "Chico" LeClaire, Marcus & Millichap
- Seller's Representative: Dave Knobler, Marcus & Millichap
- Buyer: Unknown
- Seller: California-based family trust
- Square Footage: Not Disclosed
Representatives from the LeClaire Group, a division of Marcus & Millichap, facilitated the sale on behalf of the seller, providing expertise in the self-storage market. The identity of the buyer remains undisclosed following the transaction, which underscores the confidentiality often present in commercial property deals.
Players
La Porte Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas self storage sales on Traded.
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