Updated Dec 4, 2024
Marcus & Millichap Sells Two Self Storage Facilities In Inez Texas With 483 Units
96 Beck Road & 2149 Garcitas Creek Road
Units
483
Asset Type
Self Storage
Closing
Aug 20, 2024
About this deal
AI
The transaction involved two self-storage facilities located at 96 Beck Road and 2149 Garcitas Creek Road in Inez, Texas. The properties encompass a total of 483 units situated on 11 acres of land. The specifics regarding the value of the transaction remain undisclosed.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: Undisclosed
- Units: 483
- Acres: 11
- Address: 96 Beck Road & 2149 Garcitas Creek Road
- Market: Inez
Dave Knobler and Mixson Staffel, representing Marcus & Millichap, facilitated the deal between a private seller and a California-based family trust. Their role was crucial in brokering the sale of these self-storage facilities.
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Self Storage
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Inez Self Storage Market Snapshot
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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