Updated Dec 4, 2024
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
About this deal
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.
On the Map
Self Storage
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Spring 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