Updated Dec 4, 2024
Merit Hill Capital Acquires Georgetown Mini Storage Self Storage Facility In Austin For $X Million
2220 North Austin Avenue
Building Size
26,400 SF
Asset Type
Self Storage
Closing
Nov 1, 2024
About this deal
AI
The property involved in the transaction is Georgetown Mini Storage, located at 2220 North Austin Avenue in the Georgetown market. This facility features 144 self-storage units and encompasses a total of 26,400 net rentable square feet.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: Not disclosed
- Units: 144
- Square Footage: 26,400
- Buyer: Merit Hill Capital
- Brokers: Douglas Diffie & Jon Danklefs - Marcus & Millichap
Jon Danklefs and Douglas Diffie, both of Marcus & Millichap, represented the seller in this transaction. Additionally, Jon Danklefs procured the buyer, Merit Hill Capital.
On the Map
Self Storage
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Georgetown 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