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3725 State Highway 35 South

Versal Brokers Sale Of Stowaway Storage In Rockport, South Texas
SOLDSelf Storage

Versal Brokers Sale Of Stowaway Storage In Rockport, South Texas

3725 State Highway 35 South

Building Size

34,626 SF

Asset Type

Self Storage

Closing

Jan 16, 2024

AI

A 309-unit self storage facility located at 3725 Highway 35 North in Rockport, South Texas, has been sold. The property, known as Stowaway Storage, spans approximately 34,626 square feet.

Summary of transaction details

  • Property Type: Self Storage
  • Transaction Amount: Not disclosed
  • Address: 3725 Highway 35 North, Rockport, South Texas
  • Market: Rockport
  • Units: 309

Versal's Bill Bellomy, Michael Johnson, Logan Foster, and Hugh Horne represented the seller, Curren Cos. Inc., in this undisclosed transaction. The buyer is described as a Texas-based private investor.

Players

Bill Bellomy

Versal

Broker

$19.5M

vol

26 deals

Broker

Fulton 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