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1741 W Market St Rockport, ...

Affordable Mini Storage Sold In Rockport, Texas With Marcus & Millichap Brokers
SOLDSelf Storage

Affordable Mini Storage Sold In Rockport, Texas With Marcus & Millichap Brokers

1741 W Market St Rockport, Tx 78382, Usa

Building Size

Asset Type

Self Storage

Closing

Aug 24, 2023

AI

A 63-unit self-storage facility located at 1741 West Market Street in Rockport, Texas has been sold. The property, known as Affordable Mini Storage, was purchased by an out-of-state buyer in a 1031 exchange transaction. The facility is situated on 0.42 acres of land and offers a convenient storage solution for residents in the area.

Summary of transaction details

  • Property Type: Self Storage
  • Transaction Amount: Not specified
  • Units: 63
  • Acres: 0.42
  • Address: 1741 West Market Street, Rockport, Texas

The sale of Affordable Mini Storage was facilitated by Jon Danklefs and Sean M. Delaney of Marcus & Millichap. As brokers representing the buyer, they ensured a smooth transaction and provided the best certainty of close. The involvement of an out-of-state buyer in a 1031 exchange demonstrates the appeal and potential value of this self-storage facility in Rockport.

Players

Sean Delaney

Marcus & Millichap

Broker

$27.8M

vol

8 deals

Broker

Wautoma 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