Texan Self Storage is a 18,300 net rentable square foot self-storage facility located in Crosby, Texas. The property sits on approximately a quarter acre of land consisting of four single story buildings that house 106 units. There are approximately 2.4 acres of undeveloped land attached to the property that investors could receive right-of-first-refusal to expand on.
The property was constructed in 1982, with additions in 1992. The property has concrete pavement and is enclosed by a chain link fence with an automatic gate entrance.
Texan Self Storage is strategically positioned on Crosby Huffman Road (FM 2100) with nearly 17,000 daily traffic counts. Just 25 miles east of downtown Houston, Crosby is poised for exponential growth and development. There are estimated to be over 10,000 new homes constructed over the next decade. Approximately 5/10 mile from Texan Self Storage Centex Homes has broken ground and is about to begin construction on its newest development, Crosby Farms. Additionally, D.R. Horton has been building homes at its Newport Pointe development since 2023 and is just 1.5 miles to the north of Texan Self Storage. Furthermore, directly across the street is a 10-acre parcel that is planned for a retail development project in 2025.
The property is remotely managed by an individual who lives close to an hour away and doesn’t have time to manage the asset properly. Texan Self Storage has struggled to maintain a 40 percent physical occupancy. Texan Self Storage offers an investor an exciting value add opportunity. By utilizing more sophisticated management to increase occupancy and revenue to market standard a 10 percent unlevered yield could be achieved within 36 months.