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$ 1,200,000
Est. payment | /mo
1.74 Acres Lot
$ 1,200,000
Est. payment | /mo
1.74 Acres Lot
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Subdivision Jh Moore
MLS Listing ID 21073775
Total Fin. Sqft 16225
Year Built 2002
Annual Tax Amount $14,920
Lot Size 1.740 Acres
Acres 1.74
Property Sub-Type Business
Property Description
2820 Highway 380, Decatur, TX 76234. List Price $1,200,000 Cap Rate 9.02. Net Operating Income NOI: $108,254
Description: Income-producing self-storage facility in a high-growth corridor just off Highway 380 in unincorporated Wise County. The property features 50 storage units and 5 secure parking spaces, with rental rates ranging from $50 to $1000 per month. Current occupancy is approximately 61%, presenting immediate lease-up potential and revenue growth. The facility operates with city water and electric, and tenants are billed monthly with simple management processes. With a 9.02% cap rate on existing operations and a straightforward expense structure, this is a low-maintenance, value-add opportunity for investors looking to grow NOI by increasing occupancy. Also available as a single turnkey investment: the 380 Eagle's Nest Tiny Home & Storage Facility as a combined portfolio. Includes 16 fully leased custom tiny homes with full kitchens and utilities included, an on-site coin laundry, and this 50-unit storage facility with 5 parking spaces. Combined operations generate $276,219 NOI on $361,620 gross income, delivering a 10.26% cap rate at $2,650,000 with upside as storage lease-up continues.
Description: Income-producing self-storage facility in a high-growth corridor just off Highway 380 in unincorporated Wise County. The property features 50 storage units and 5 secure parking spaces, with rental rates ranging from $50 to $1000 per month. Current occupancy is approximately 61%, presenting immediate lease-up potential and revenue growth. The facility operates with city water and electric, and tenants are billed monthly with simple management processes. With a 9.02% cap rate on existing operations and a straightforward expense structure, this is a low-maintenance, value-add opportunity for investors looking to grow NOI by increasing occupancy. Also available as a single turnkey investment: the 380 Eagle's Nest Tiny Home & Storage Facility as a combined portfolio. Includes 16 fully leased custom tiny homes with full kitchens and utilities included, an on-site coin laundry, and this 50-unit storage facility with 5 parking spaces. Combined operations generate $276,219 NOI on $361,620 gross income, delivering a 10.26% cap rate at $2,650,000 with upside as storage lease-up continues.
Location
State TX
County Wise
Zoning unincorporated. outside city limits
Direction google maps is correct
Interior
Heating None
Cooling None
Flooring Concrete
Heat Source None
Exterior
Utilities Available Co-op Electric, Electricity Connected
Roof Type Metal
Garage No
Building
Foundation Slab
Structure Type Aluminum Siding
Others
Ownership G1L1
Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21073775
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Listed by Charles Horton • The Michael Group Real Estate
