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
Clute 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