1660 TX-150 - County Seat Self Storage, Coldspring 48,420 SF Specialty Building Offered at $4,117,964 CAD at a 6.30% Cap Rate in Coldspring, TX 77331

County Seat Self Storage is a 246 unit, 48,420 NRSF self-storage investment opportunity at 1660 TX-150, Coldspring, Texas. This 10.55 acre site sits just 5 miles from Lake Livingston which is the second largest lake in Texas. The area serves as a popular recreational destination for Texas residents of the Greater Houston area which is just a one hour drive via U.S. Highway 59 and TX-150. TX-150 & U.S. Highway 59 also provide convenient, 50-minute drive-times to Lake Conroe and Bush intercontinental Airport (IAH) from the Coldspring/Lake Livingston area.
Constructed in 2012 and expanded in 2020, County Seat Self Storage is an immaculately maintained facility that has been “mom and pop” operated since its inception. The 16 metal-over-steel buildings feature a mix of non-climate self-storage and canopy parking for boats and RV’s. The facility’s self-storage buildings feature concrete foundations and driveways, and garage style roll-up doors. The Boat & RV canopies feature a mix of gravel and concrete foundations with all gravel driveways. The canopy spaces also feature lockable security gates which are unique and provide added peace-of-mind for customers.
County Seat Self Storage offers an attractive day-one return with several immediate value-add opportunities. Most notably, there is upside in the current physical occupancy which has fluctuated as the owner has constructed new buildings over the years. A new owner can attract new customers by implementing Website SEO, social media marketing, Google Ads, SpareFoot profile, and running move-in specials. Simultaneously, a new owner can boost revenue by gradually increasing rental rates for longstanding tenants who have few other suitable options for storage in the area. It is also recommended that a new owner offer tenant insurance to new and existing customers as an ancillary income stream. Finally, a new owner can add buildings or open parking on the undeveloped acreage that is included with the sale.