Marcus & Millichap Sells 493-Unit Self Storage Facility In Denton Texas With Brandon Karr
816 Frame Street
Building Size
58,225 SF
Asset Type
Self Storage
Closing
Nov 7, 2024
AI
The property involved in this transaction is a self-storage facility located at 816 Frame Street in Denton, Texas. The facility comprises 493 units and offers a total of 58,225 rentable square feet. It was operated by Extra Space Storage and has its origins dating back to the 1980s.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: Not disclosed
- Units: 493
- Square Feet: 58,225
- Address: 816 Frame Street
- Market: Denton
- Broker: Brandon Karr - Marcus & Millichap
Brandon Karr facilitated both sides of this transaction, representing the local investor who sold the property to a publicly traded self-storage REIT. The role of Marcus & Millichap was critical in brokering the successful transaction of this self-storage asset.
Players
Denton 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