Dave Knobler Brokers Sale Of Self Storage Facility In Spring For Private Investor
4305 Spring Cypress Road
Building Size
74,872 SF
Asset Type
Self Storage
Closing
Mar 20, 2024
AI
A 251-unit self-storage facility situated on 4.4 acres in Spring, a northern Houston suburb, located at 4305 Spring Cypress Road, was successfully sold in a recent transaction. The property spans 74,872 square feet, catering to the storage needs of the local community.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: Not disclosed
- Units: 251
- Acres: 4.4
- Market: Spring
- Broker: Dave Knobler - Marcus & Millichap
Marcus & Millichap, a prominent real estate brokerage firm, facilitated the sale of the self-storage facility in Spring. The deal was overseen by Dave Knobler, representing both the private investor and the limited liability company during the transaction, ensuring a smooth and confidential exchange of ownership.
Spring Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
Loading comparables…
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