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1932 FM523 Oyster Creek, TX...

Blue Water Self Storage Sold In Freeport, Texas To New York-Based LLC
SOLDSelf Storage

Blue Water Self Storage Sold In Freeport, Texas To New York-Based LLC

1932 FM523 Oyster Creek, TX 77541, USA

Building Size

56,600 SF

Asset Type

Self Storage

Closing

Jul 26, 2023

AI

A 56,600 square foot self storage facility located at 1932 FM 523 in Freeport, Texas has been sold. The property spans across an area of 8.17 acres and was recently transacted in a sale.

Summary of transation details

  • Property Type: Self Storage
  • Transaction Amount: Not disclosed
  • Address: 1932 FM 523, Freeport, Texas
  • Size: 56,600 square feet
  • Market: Freeport

The sale was facilitated by Dave Knobler from Marcus & Millichap, who represented the deal as the broker. Specifically, the buyer was a New York based limited liability company. Despite not meeting typical demographic criteria, the property's close proximity to the Surfside Beach tourism area and the buyer's market knowledge ultimately led to a successful closing. Additional details regarding the sale price and other financial specifics were not disclosed.

Players

Dave Knobler

Marcus & Millichap

Broker

$16.1M

vol

36 deals

Broker

Texas 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