105 Creekwood Landing Dr - South Texas Boat & RV Storage 17,225 SF Specialty Building Offered at $1,973,497 CAD at a 4.57% Cap Rate in Richwood, TX 77531

South Texas Boat & RV Storage is a 72 unit, 26,045 NRSF Boat & RV Storage investment /development opportunity at 105 Creekwood Landing Dr., Richwood, Texas (Lake Jackson MSA). This 11.21 acre site is located on Highway 288 which sees as many as 17,000 passing vehicles per day (Per TxDOT). Surrounding the site on Creekwood Dr. and Timber Creek Dr. are 3 class A apartment complexes totaling 704 units. The area surrounding the property is affluent and densely populated with over 50,000 residents within the 5-mile radius and household incomes averaging roughly $100,000 which is 25% higher than the national average. Completed in late 2023, South Texas Boat & RV Storage is a state of the art facility that is fully fenced and gated with LED lighting, 24/7 digital camera surveillance and uniquely coded keypad access for each tenant. Additionally, the 4 metal-over-steel buildings are fully enclosed and rated for 145 MPH winds. Tenants enjoy uncommon features such as a community ice-maker, multiple free boat/vehicle wash-down areas, timed lights and electric outlets in every unit for trickle chargers and a compressed air station.
Achieving 93% occupancy in just one year, South Texas Boat & RV Storage is a well-established, stabilized facility which benefits from excellent visibility on Highway 288, direct exposure to over 700 apartment units, and close proximity to over 18,000 households within 5 miles. With approximately 6 developable acres remaining, the asset is poised to benefit from immediate expansion in an MSA that is significantly underserved for both boat storage and climate controlled-mini storage. As Brazoria County expands (Greater Houston Partnerships estimates over 574,000 residents by 2040), South Texas Boat & RV Storage is set to be a premier development opportunity in the region.