22987 County Road 187Bullard, TX 75757

Property Details for 22987 County Road 187

Year built

2015

Construction

STEEL FRAME

Lot size

2.15 AC

Property size (Sq ft)

18,544 SF

Property type

Warehouses

APN

1-00000-0002-00-008012

APU

100000000200008012

Description

This exceptional self-storage facility in Bullard, Texas, presents a compelling investment opportunity. Located at 22987 County Road 187, this property encompasses 11.89 acres and boasts 518,146 square feet of space. The facility comprises five buildings, offering a mix of 113 covered and 20 uncovered storage units, catering to diverse storage needs. Security features include a mechanical gate and a secure area, ensuring tenant peace of mind. A significant advantage is the on-site manager's residence, complete with a pool, facilitating efficient management and customer service. The property also features a full acre of concrete paving, minimizing maintenance. A key benefit is the substantial 6-acre expansion area at the front, providing significant potential for future growth and increased revenue. Situated just two miles from 2,500 homes, this facility benefits from a strong and expanding customer base in a thriving area of Smith County, Texas, zip code 75757. The asking price is $2,650,000. This is a turnkey operation with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $9,213,010

  6.5%

  $8,504,320

  7%

  $7,896,870

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,339,640

  Geo Method

  $8,883,020

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $4,342,760

  Mixed-Use / Specialty

  $4,312,940

  Hospitality / Lodging

  $3,145,580

  Office

  $4,272,370

  Institutional / Educational

  $4,478,590

  Residential Income

  $5,239,950

  Multifamily

  $6,364,050

  Automotive / Energy

  $3,838,790

  Parking / Income-Based Land

  $1,338,890

  Restaurant / Food Service

  $2,212,570

  Healthcare / Senior Housing

  $4,437,550

Location Insight

City

Bullard

County

Smith

State

Texas

Latitude

32.1452

Longitude

-95.4247

CBSA code

46340

CBSA name

TYLER, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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