Updated Sep 5, 2024
Marcus & Millichap Facilitates Sale Of TEPCO Storage In New Braunfels, Texas
242 Deborah Dr New Braunfels, TX 78130, USA
Units
45
Asset Type
Self Storage
Closing
Aug 2, 2023
About this deal
AI
Marcus & Millichap has recently facilitated the sale of TEPCO Storage, a self-storage facility located at 242 Deborah Drive in New Braunfels, Texas. The property features 45 storage units and is situated on a spacious 1.43-acre lot. The transaction involved the transfer of ownership from one limited liability company to another, marking a significant investment in the local self-storage market.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: Not specified
- Number of Units: 45
- Lot Size: 1.43 acres
- Address: 242 Deborah Drive, New Braunfels, Texas
The sale of TEPCO Storage was facilitated by Marcus & Millichap, represented by Jon Danklefs and Sean M. Delaney. As investment specialists at Marcus & Millichap, Danklefs and Delaney played a crucial role in connecting the buyer and seller of this self-storage property. Their expertise in the local market and extensive experience in investment transactions made them invaluable in closing the deal successfully.
Players
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