lone star self storage · lone star self storage 183 south shiloh road garland, texas 0 presented...
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Lone Star Self Storage183 South Shiloh Road
Garland, Texas
0
presented by
Thomas Holman5236 McCormick Mountain Drive
Austin, Texas 78734(214-986-8787
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 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.
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.
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 $23,735 284,820$
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
Location Map
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