2645 Tx-322Longview, TX 75603

Property Details for 2645 Tx-322

Year built

2023

Lot size

1.84 AC

Property size (Sq ft)

30,600 SF

Property type

Self storage facilities

Description

This exceptional Class A self-storage facility in Longview, Texas, presents a compelling investment opportunity. Built in 2023, the 30,600-square-foot facility boasts 145 units, including climate-controlled and boat/RV options. Situated on 1.84 acres with excellent visibility and accessibility on TX-322, it sees over 10,000 vehicles daily. The property features concrete driveways, an on-site manager's office, key-pad access, and 24-hour video surveillance. Its prime location near East Texas Regional Airport and Lake Cherokee further enhances its appeal. Currently operating at 45% occupancy (as of October 15, 2024), this facility offers significant upside potential. The asking price is $2,350,000, representing a replacement cost of only $76.80 per rentable square foot and a 7.56% cap rate. The modern amenities and construction quality allow for potential remote management, maximizing operational efficiency and profitability. This is a rare chance to acquire an investment-grade asset at its replacement cost in a high-demand market.

Location Insight

City

Longview

County

Gregg

State

Texas

Latitude

32.3809

Longitude

-94.7217

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