Description
Now offering an assumable loan at a 7% interest rate. Excellent opportunity for eager investors to build an empire! 44-unit self-storage facility in central Lubbock, TX near the corner of 19th St/Hwy 114 and Ave Q/Hwy 84, both main arterial roads in Lubbock, TX. All units are 10'x17' with 170 sq ft of storable space, and are drive-up accessible with roll-up overhead doors and outdoor access. 33 units are located inside the automated keypad access gate; 11 units are located outside the gates and have street access. Currently at 25% occupancy. Pro forma cap rate is 9+ percent. Current owner uses the Easy Storage Solutions (ESS) platform, and has an online presence. Located in a popular neighborhood near Texas Tech University. This is a value-add opportunity for new or seasoned investors to market the property to attract tenants for available and ready-to-rent units.
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0BEDS
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0.31ACRES
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0BATHS
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01/2 BATHS
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7,776SQFT
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$32$/SQFT
School Ratings & Info
Description
Now offering an assumable loan at a 7% interest rate. Excellent opportunity for eager investors to build an empire! 44-unit self-storage facility in central Lubbock, TX near the corner of 19th St/Hwy 114 and Ave Q/Hwy 84, both main arterial roads in Lubbock, TX. All units are 10'x17' with 170 sq ft of storable space, and are drive-up accessible with roll-up overhead doors and outdoor access. 33 units are located inside the automated keypad access gate; 11 units are located outside the gates and have street access. Currently at 25% occupancy. Pro forma cap rate is 9+ percent. Current owner uses the Easy Storage Solutions (ESS) platform, and has an online presence. Located in a popular neighborhood near Texas Tech University. This is a value-add opportunity for new or seasoned investors to market the property to attract tenants for available and ready-to-rent units.
© 2023 Lubbock Association of REALTORS® MLS. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2023-12-03T14:59:06.41.