Sage Property Company Acquires Guard Drive Self Storage In Dallas For Local Development Group
1332 Guard Drive
Building Size
38,295 SF
Asset Type
Self Storage
Closing
Nov 1, 2024
AI
The Guard Drive Self Storage is a self-storage facility located at 1332 Guard Drive in Dallas, Texas, encompassing a total area of 38,295 square feet. The facility includes 250 climate-controlled units and 82 drive-up units, serving both residential and commercial tenants within a rapidly expanding market.
Summary of transation details:
- Property Type: Self Storage
- Transaction Amount: Not disclosed
- Market: Dallas
- Address: 1332 Guard Drive
- Asset Size: 38,295 SF
- Buyer: Sage Property Company
- Broker Representation: Brandon Karr & Danny Cunningham - Marcus & Millichap
Marcus & Millichap facilitated the transaction, representing a local development group in the sale process. The transaction highlights the growing demand for self-storage solutions in the area, driven by an expansion of commercial and residential opportunities.
Players
Dallas 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