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508 East Main Street

Versal Brokers Facilitate Sale Of Self Storage Facility In Clute To LAGO Properties LLC
SOLDSelf Storage

Versal Brokers Facilitate Sale Of Self Storage Facility In Clute To LAGO Properties LLC

508 East Main Street

Building Size

46,785 SF

Asset Type

Self Storage

Closing

Jun 21, 2024

AI

Affordable Storage, a 440-unit Self Storage facility spanning 46,785 net rentable square feet, located at 508 East Main Street in Clute, Texas, was sold in a recent transaction. The property was acquired by LAGO Properties LLC from Fab Legacy LLC.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: Not Disclosed
  • Address: 508 East Main Street
  • Market: Clute
  • Square Footage: 46,785
  • Units: 440

Versal, a real estate brokerage, facilitated the sale of Affordable Storage. The transaction was handled by Bill Bellomy, Michael Johnson, Logan Foster, and Hugh Horne, representing seller Fab Legacy LLC from New Hampshire. LAGO Properties LLC, a Miami-based company, acted as the buyer in this property acquisition deal.

Players

Bill Bellomy

Versal

Broker

$19.5M

vol

26 deals

Broker

Clute 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