5050 Fairmont StAbilene, TX 79605

Property Details for 5050 Fairmont St

Year built

1984

Lot size

0.93 AC

Property size (Sq ft)

15,820 SF

Property type

Commercial real estate

APN

63300030600

APU

63300030600

Description

This exceptional self-storage investment opportunity presents a well-performing 134-unit facility located at 5050 Fairmont St, Abilene, TX 79605. Built in 1984, the property boasts 16,050 net rentable square feet across four single-story buildings situated on a 0.93-acre lot. Currently achieving a 6.40% cap rate with a NOI of $70,003, the pro-forma projections indicate a 6.56% cap rate and a NOI of $72,156, showcasing significant upside potential. The facility enjoys high occupancy rates, exceeding 93% for units and 90% for square footage. This strong performance is supported by a dense population base, with over 61,000 residents within a 3-mile radius and over 100,000 within a 5-mile radius. Further bolstering the investment's appeal is the projected annual population growth of 0.50% over the next five years. The property offers room for improvement in economic occupancy, allowing for subsequent rental rate increases. This is a prime opportunity to acquire a stable, high-performing asset with considerable growth potential in a thriving Texas market. The asking price for this exceptional property is $1,100,000.

• Alternative Use

  Use

  Valuation

  Residential

  $4,988,614

  Hospitality

  $4,569,544

  Educational

  $3,801,807

  Medical

  $3,932,557

  Retail

  $5,913,922

Location Insight

City

Abilene

County

Taylor

State

Texas

Latitude

32.4367

Longitude

-99.7887

CBSA code

10180

CBSA name

ABILENE, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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