Andover Properties Acquires 240-Unit Self Storage Facility In Kyle From Highway 21 Storage
13397 Camino Real
Units
240
Asset Type
Self Storage
Closing
Dec 13, 2023
AI
Versal has brokered the sale of Highway 21 Storage, a 240-unit self-storage facility located at 13397 Camino Road in Kyle, near Austin. The transaction took place on 12/13/2023. Andover Properties, represented by Brian Cohen, acquired the property for an undisclosed amount. The self-storage facility, operated under Andover Properties' Storage King USA brand, offers a total of 240 storage units.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: Undisclosed
- Address: 13397 Camino Road
- Market: Kyle
Assisting Andover Properties in the transaction were brokers Bill Bellomy, Michael Johnson, Logan Foster, and Hugh Horne, from the agency Versal.
Players
Kyle 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