Barker Cypress Self Storage

FESCH.TV INFORMIERT:

Barker Cypress Self Storage is a 56,050 NRSF self-storage facility located in Houston, TX. The property sits on approximately 2.89 acres of land and has 9 single story buildings consisting of 130 climate control units that equal 15,800 NRSF (28 percent), and 339 non-climate units that add up to 40,250 NRSF (72 percent). The facility has numerous amenities including but not limited to, video surveillance throughout the property, an automatic entrance gate with key code access, roll-up doors, concrete driveways, and a full-service on-site manager’s office and residence. The property was initially constructed in 1996 and expanded in 2003.

One of the most attractive components of the facility is its busy west Houston location. The property fronts on W. Little York Road which is a primary Houston thoroughfare stretching from Katy at its westernmost point to Humble once it turns into Little York. The facility sees around 25,000 vehicles per day travel in front of it. Barker Cypress Self-Storage is also approximately ¼ mile from the intersection of Barker-Cypress Road which is another major access point connecting I-10 to US 290. There are over 176,000 people living within 3 miles of the facility and the median household income is over $74,000. The facility is in the Bear Creek area of Houston and is convenient to several major employment centers including the energy corridor which is about 7 miles away.

The owner is a family who self manages the asset since they developed it. The asset has some of the lowest street rates in its submarket and is currently achieving rents slighty over $7.10. As of April 30th, the property is approximately 80 percent physically occupied by units and 71 percent occupied by square footage. A more sophisticated investor could capitalize on revenue streams such as tenant insurance revenue and find additional value by increasing both physical and economic occupancy at the property.