Andover Properties Acquires 240-Unit Self Storage Facility In Kyle From Highway 21 Storage
13397 Camino Real
Building Size
—
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
Loading comparables…
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