11609 Tx-248 SpurTyler, TX 75707

For Sale
$1,750,000
130 Units, High Occupancy, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
125
This exceptional self-storage facility in Tyler, Texas, presents a compelling investment opportunity. Boasting 130 units across 26,708 square feet, this Class B property enjoys 100% occupancy, generating a substantial net operating income (NOI) of $133,000. Situated on a 1.81-acre lot at 11609 TX-248 Spur, the property benefits from high visibility and accessibility due to its location on two major roadways. Recent renovations in 2006 and 2021 enhance its appeal. The property's prime location near the University of Texas at Tyler ensures consistent demand from students, faculty, and local residents. The strong market fundamentals in Tyler, a major East Texas economic hub, contribute to the facility's consistently high occupancy rate, offering potential for rental rate increases and further NOI growth. The property's five buildings are zoned for commercial use, and the asking price is $1,750,000, representing a 7.60% cap rate. This stabilized investment offers immediate cash flow and significant upside potential for a savvy investor. The property's APN is 1-00000-1004-00-033000.

Highlights

  • 100% occupancy, providing immediate cash flow and upside potential through rent increases.
  • $133,000 annual net operating income (NOI) with potential for further growth.
  • 1.81-acre site on University Blvd and Spur 248, near the University of Texas at Tyler.
  • 26,530-square-foot facility with 130 storage units.
  • Strong market fundamentals in Tyler, Texas, driven by healthcare, education, and retail.
  • High visibility and accessibility due to excellent road frontage on University Blvd and Spur 248.

Property Details for 11609 Tx-248 Spur

Property type
Self storage facilities
Square Feet
26,708 SF
Class
B
Buildings
5
Lot Size (sq. ft)
78,844 SF
Units
130

Location Insight

City
Tyler
County
Smith
State
Texas
Latitude
32.316202433056
Longitude
-95.2154554966
11609 Tx-248 Spur, Tyler, Texas

FAQs

What type of property is this?
Self storage facility - 130 Units, High Occupancy, Strong NOI
Where is the self storage facility located?
The property is located at 11609 Tx-248 Spur Tyler, TX.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 100% occupancy, providing immediate cash flow and upside potential through rent increases.; $133,000 annual net operating income (NOI) with potential for further growth.; 1.81-acre site on University Blvd and Spur 248, near the University of Texas at Tyler.
How can I contact the broker?
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11609 Tx-248 Spur
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