lone star self storage · lone star self storage 183 south shiloh road garland, texas 0 presented...

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Lone Star Self Storage 183 South Shiloh Road Garland, Texas 0 presented by Thomas Holman 5236 McCormick Mountain Drive Austin, Texas 78734 (214-986-8787 [email protected] This offer is subject to prior sale or removal from the market. All information shown in this brochure, while based upon information supplied by the owners and from other sources deemed to be reliable, is not in any way warranted or guaranteed by the Brokerage Company. This brochure is for your use as long as you have need of it, but at all times remains the property of the Brokerage Company. When you have completed your review, please return it to the Brokerage Company.

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Page 1: Lone Star Self Storage · Lone Star Self Storage 183 South Shiloh Road Garland, Texas 0 presented by Thomas Holman 5236 McCormick Mountain Drive Austin, Texas 78734 (214-986-8787

Lone Star Self Storage183 South Shiloh Road

Garland, Texas

0

presented by

Thomas Holman5236 McCormick Mountain Drive

Austin, Texas 78734(214-986-8787

[email protected]

This offer is subject to prior sale or removal from the market. All information shown in this brochure, while based upon information supplied by the owners and

from other sources deemed to be reliable, is not in any way warranted or guaranteed by the Brokerage Company. This brochure is for your use as long as you have

need of it, but at all times remains the property of the Brokerage Company. When you have completed your review, please return it to the Brokerage Company.

Page 2: Lone Star Self Storage · Lone Star Self Storage 183 South Shiloh Road Garland, Texas 0 presented by Thomas Holman 5236 McCormick Mountain Drive Austin, Texas 78734 (214-986-8787

Lone Star Self Storage183 South Shiloh Road

Garland, Texas

PROPERTY DATA: FINANCIAL DATA:

# Storage Units: 180 Total Purchase Price: $1,500,000

# Parking 7 Spaces

Total 187

0Net Rentable Area: 21,233 SF Price Per Sq. Ft.: Gross $58.36

Climate Control: 0% Price Per Sq. Ft.: Rentable $70.64

Office: 400 SF

Hallways: 4,071 SF PROFORMA

Gross Area: 25,704 SF Potential Rental Inc.: 284,820$

Less: Vacancy: 10.0% (28,482)$

Net Rentable CC: 5,927 Other Income: 5.0% 14,241$

Estimated Effective Gross: 270,579$

Year Built: 1986 Expenses: 120,406$ 44.5% Exp Ratio

Type Const.: Metal/Tilt Panel Proforma NOI: 150,173$ 10.0% Cap Rate

Roof: Metal

Partitions: Metal

Drives: Concrete

Golf Cart: Yes

Gates: Electronic CURRENT PERFORMANCE

Exterior Fenced: Yes Current Monthly Gross Income: 13,500$

Security: Electronic Gate Current Gross Income: 166,468$

Computer: Yes Actual Expenses: 86,892$ 52.2% Exp Ratio

Actual NOI: 79,576$ 5.31% Cap Rate

SITE DATA:

Size: Approx. Acres: 1.03 Per Owner

Excess Land: 0 Occupancy: June 24, 2019 51% Units

Zoning: Appropriate 68% % of SF

COMMENTS:

For Information Contact: Tom Holman214-986-8787

This offer is subject to prior sale or removal from the market. All information shown in this brochure, while based upon information supplied by the owners and from other sources deemed to be reliable, is not in any way warranted or guaranteed by the Broker

Manager does not know the property is for sale, do not disturb. In July of 2017, a fire partially destroyed the second floor. Cleanup and rehab took two years. Property began releasing in June and is in lease up. As a result historical income and expenses are as of the last full year which was 2016. The rehab included converting all of the interior units to climate control, offering previously unrentable units now with climate control. Climate rates appear to be low. Property is not manned fulltime and should be to achieve maximum absorption. Other sources of additional revenue are merchandise sales and mandatory tenant insurance, both which are standard in the industry but not currently marketed.

Page 3: Lone Star Self Storage · Lone Star Self Storage 183 South Shiloh Road Garland, Texas 0 presented by Thomas Holman 5236 McCormick Mountain Drive Austin, Texas 78734 (214-986-8787

UNIT MIX AND POTENTIAL INCOME REPORTLone Star Self Storage183 South Shiloh Road

Garland, Texas

NET CURRENT POTENTIAL

TOTAL UNIT RENT MONTHLY ANNUAL

TYPE SIZE AREA (SF) # UNITS AREA (SF) RENT PER SF RENT INCOME

0

EXTERIOR

Non Climate 5x5 25 4 100 $53.00 $2.12 $212 $2,544

Non Climate 5x8 40 1 40 $32.00 $0.80 $32 $384

Non Climate 7x8 56 1 56 $75.00 $1.34 $75 $900

Non Climate 6x10 60 2 120 $85.00 $1.42 $170 $2,040

Non Climate 7x10 70 1 70 $90.00 $1.29 $90 $1,080

Non Climate 10x8 80 1 80 $95.00 $1.19 $95 $1,140

Non Climate 10x10 100 16 1,600 $125.00 $1.25 $2,000 $24,000

Non Climate 10x14 140 1 140 $153.00 $1.09 $153 $1,836

Non Climate 10x16 160 8 1,280 $165.00 $1.03 $1,320 $15,840

Non Climate 10x20 200 48 9,600 $195.00 $0.98 $9,360 $112,320

Non Climate 10x22 220 1 220 $215.00 $0.98 $215 $2,580

Non Climate 20x20 400 5 2000 $295.00 $0.74 $1,475 $17,700

CLIMATE FIRST FLOOR

Climate 5X6 30 3 90 $58.00 $1.93 $174 $2,088

Climate 5X7 35 0 0 $60.00 $1.71 $0 $0

Climate 5X8 40 1 40 $65.00 $1.63 $65 $780

Climate 5X10 50 6 300 $75.00 $1.50 $450 $5,400

Climate 6X10 60 5 300 $85.00 $1.42 $425 $5,100

Climate 7X10 70 1 70 $90.00 $1.29 $90 $1,080

Climate 6x12 72 1 72 $95.00 $1.32 $95 $1,140

Climate 10X10 100 5 500 $125.00 $1.25 $625 $7,500

CLIMATE SECOND FLOOR

Climate 5X5 25 7 175 $53.00 $2.12 $371 $4,452

Climate 5X6 30 14 420 $58.00 $1.93 $812 $9,744

Climate 5X7 35 1 35 $62.00 $1.77 $62 $744

Climate 5X9 45 1 45 $67.00 $1.49 $67 $804

Climate 5X10 50 16 800 $75.00 $1.50 $1,200 $14,400

Climate 8X10 80 2 160 $102.00 $1.28 $204 $2,448

Climate 10X10 100 25 2,500 $125.00 $1.25 $3,125 $37,500

Climate 10x12 120 1 120 $140.00 $1.17 $140 $1,680

Climate 10x14 140 1 140 $153.00 $1.09 $153 $1,836

Climate 10x16 160 1 160 $165.00 $1.03 $165 $1,980

TOTAL STORAGE UNITS 180 21,233 $1.10 $23,420 281,040$

Parking 10x20 7 $45.00 $315 $3,780

TOTAL 187 $23,735 284,820$

Page 4: Lone Star Self Storage · Lone Star Self Storage 183 South Shiloh Road Garland, Texas 0 presented by Thomas Holman 5236 McCormick Mountain Drive Austin, Texas 78734 (214-986-8787

INCOME AND EXPENSE ANALYSISLone Star Self Storage183 South Shiloh Road

Garland, Texas

2016

PROFORMA COMMENTS ACTUAL COMMENTS

INCOME: 0

Potential Rental Income 284,820$

Less: Vacancy 10.0% (28,482)$

Potential Other Income 5.0% 14,241$

Estimated Effective Gross 270,579$ $166,468

EXPENSES:

Administration & Dues

Bank Charges 50$ $51

Credit Card Fees 7,218$ 4,441$

Postage 500$ 491$

Adminitration & Dues 400$ 353$

Advertising 3,500$ 3,557$

Salaries, W.Comp, Benefits 40,000$ 32,304$

Property Management 16,235$ 15,000$

Insurance -Property 4,000$ 3,848$

Property Taxes 33,853$ Based on assesment @80% of price 13,682$ sed on 2019 Assessment

Repairs & Maintenance 2,900$ 2,852$

Sevices

Dumpster 1,300$ 1,208$

Exterminator 500$

Landscaping 700$ 658$

Security & Fire Monitor

Elevator Maintenance

Other

Supplies

Cost of Goods Sold 500$ 153$

Supplies Office & Facility 1,500$ 1,325$

Utilities

Electric & Gas 2,800$ 2,729$

Water/Sewer 650$ 614$

Computer 800$ 788$

Telephone/Fax/Modem 3,000$ 2,838$

TOTAL EXPENSES 120,406$ 86,892$

EXP$/SF 4.68$ 3.38$ TAX INFORMATION: Dallas County

Expense Ratio 44.5% 52.2% 2019 485,000$

Tax rate: $2.821100 Per $100

N.O.I. 150,173$ 79,576$

Assumptions:

We have used information provided by the seller combined with information gathered from our data base on Industry averages in the area. Taxes & Insurance may be adjusted to reflect purchase price. All information should be confirmed during due diligence

Page 5: Lone Star Self Storage · Lone Star Self Storage 183 South Shiloh Road Garland, Texas 0 presented by Thomas Holman 5236 McCormick Mountain Drive Austin, Texas 78734 (214-986-8787

Location Map

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Page 6: Lone Star Self Storage · Lone Star Self Storage 183 South Shiloh Road Garland, Texas 0 presented by Thomas Holman 5236 McCormick Mountain Drive Austin, Texas 78734 (214-986-8787

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Page 22: Lone Star Self Storage · Lone Star Self Storage 183 South Shiloh Road Garland, Texas 0 presented by Thomas Holman 5236 McCormick Mountain Drive Austin, Texas 78734 (214-986-8787

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