Updated Apr 20, 2026
Lakewood Realty Investments Acquires Self Storage In Magnolia
7427 Fm 1488
Building Size
19,998 SF
Asset Type
Self Storage
Closing
Apr 4, 2024
About this deal
AI
The Magnolia Storage facility, located at 7427 Fm 1488 in Magnolia, Texas, is a self-storage property with 64 units spanning 19,998 net rentable square feet. Lakewood Realty Investments, based in Houston, acquired the property in a recent transaction facilitated by Versal, a self-storage brokerage firm.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: Not Disclosed
- Buyer: Lakewood Realty Investments
- Buyer's Representative: Versal
- Seller's Representative: Ryan Dooley - CRD Realty
Versal played an instrumental role in the sale, working with the buyer, Lakewood Realty Investments, while Ryan Dooley of CRD Realty represented the seller, a Texas-based LLC. The transaction underscores the ongoing activity and interest in the self-storage sector in the Montgomery, Texas market.
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Self Storage
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Magnolia 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