McQueeney Boat & RV
79 Unit Facility for Sale!
$700K
No Seller Financing
Terms: Cash/Hard, Private Money or Buyer Obtained Financing
No owner financing terms
Value-Add Opportunity for Increased Occupancy!
Lot size: 1.64 acres
Units: 59 Boat & RV Units; 5 Non-Climate Controlled Units; 15 Open Parking Spaces.
Total units: 79.
Price/sq ft: $31.80 (Below replacement cost)
Price/Unit: $8,860
Building size: 22,016 Net rentable Sq Ft
Located 1,000 Feet from Lake McQueeney!!
Physical Occupancy is 62%.
Economic Occupancy is 60%
Background:
Prior to the current owners, the facility suffered from a 100% management issue. Original owners inherited the facility and did nothing with it. The facility had some tenants whom paid randomly and several tenants didn’t pay. No marketing. No maintenance. No effort.
Current owners purchased the facility in Apr 2023, with the intent to ‘flip’ the facility. The facility had 10% Economic Occupancy. All of the heavy lifting has been done for you. Repairs, Signage, Marketing & Improvements have been Completed. Current owners have created a base of long-term clients that continues to grow steadily. Current Economic Occupancy is 60% !
Value Add:
Continue the lease up, develop tenant insurance revenue, & increase rents after stabilization. Lease up has been steady since new owners began marking in Sep 2023. Physical Occupancy increased from 33% to 62% in 6 months!
All delinquent accounts will be resolved and units ready to rent!!
Deferred Maintenance:
None remaining.
Next Steps:
Fill out the form below. You will be sent an email with further information along with an email with link to sign an NDA.
Once returned we will send you all financials and answers to any questions you might have.
This is only available to serious buyers. Must provide LOI or Purchase Agreement, be able to close, & come with cash or financing. Site visit can be set up to committed buyers.
Own a Storage Facility for at a discount if you buy now!
You cannot find deals like this for Storage. If owners do not receive acceptable offers, they will increase occupancy to 80% and sell at Market Value.
Your opportunity for a discounted Storage Facility is NOW.
Request NDA and Financials