Updated Mar 7, 2026
Marcus & Millichap Sells Dry Dock & Lock Self Storage In Crowley, Texas For Returning Client
2300 Fm 1187
Building Size
200,940 SF
Asset Type
Self Storage
Closing
Feb 13, 2026
About this deal
AI
The transaction involved a self-storage property located at 2300 FM 1187 in Crowley, Texas. This asset comprises 200,940 square feet and includes 466 units on 20 acres. The property was constructed in 2021, indicating a relatively new development in the self-storage market.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: Not specified
- Square Footage: 200,940 SF
- Units: 466
- Acres: 20
- Address: 2300 FM 1187
- Market: Crowley
Marcus & Millichap facilitated this transaction, with brokers Danny Cunningham, Brandon Karr, and Jon Danklefs representing the seller. A buyer from Canada was secured by Cunningham and Karr, indicating the reach of their marketing efforts beyond local buyers.
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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