Updated Sep 9, 2024
Marcus & Millichap Sells Affordable Self Storage Facility In Denton, TX
1239 Teasley Ln Denton, TX 76205, USA
Building Size
47,108 SF
Asset Type
Self Storage
Closing
Aug 10, 2023
About this deal
AI
Affordable Self Storage, a 47,108-square-foot self storage facility located at 1239 Teasley Lane in Denton, TX, has been sold. The transaction was announced by Marcus & Millichap, with Danny Cunningham and Brandon Karr serving as the brokers representing the seller. The property was acquired by a Chicago-based real estate company.
Summary of Transaction Details:
- Property Type: Self Storage
- Transaction Amount: Not disclosed
- Address: 1239 Teasley Lane, Denton, TX
- Market: Denton
- Square Footage: 47,108
The sale of Affordable Self Storage in Denton, TX, was facilitated by the Karr-Cunningham Storage Team, comprised of Danny Cunningham and Brandon Karr from Marcus & Millichap. The seller was a Dallas-Fort Worth investor, while the buyer, a Chicago-based real estate company, recognized the potential of the property and acquired it as part of their investment portfolio.
Players
Denton 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