Rod Hinze Of Hinze Capital Acquires FreeUp Storage From Scott Lewis Of Spartan Investment Group
3725 Flory Street
Building Size
21,910 SF
Asset Type
Self Storage
Closing
May 9, 2025
AI
A self-storage facility located at 3725 Flory Street in North Richland Hills has been involved in a closed transaction. The asset encompasses 21,910 square feet and consists of 145 units.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: Not specified
- Address: 3725 Flory Street
- Market: North Richland Hills
- Units: 145
- Square Footage: 21,910
- Buyer: Rod Hinze - Hinze Capital
- Seller: Scott Lewis - Spartan Investment Group
- Broker Representatives: Brandon Karr & Danny Cunningham - Marcus & Millichap
The sale was facilitated by Marcus & Millichap, which represents the interests of the brokers involved in the transaction. Hinze Capital, a local buyer, acquired the property from Spartan Investment Group. The brokers, Brandon Karr and Danny Cunningham, played a key role in the deal's execution.
Players
North Richland Hills 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