Unveiling Lakeridge Self Storage in Midlothian - An Unparalleled Investment Opportunity
Location:
Welcome to the thriving heart of Midlothian, TX, where Lakeridge Self Storage awaits at 5191 US-67. Here, 25 miles from both Dallas and Fort Worth, you're investing in a community known for its blend of rich heritage and dynamic growth, poised for a future of business expansion and residential development.
10 Reasons This is one of the Best Deals You Have Seen!
Business Mismanagement: The current owner inherited this property without adjusting rates for over 7 years, leaving it 100% occupied but up to 30% below market rents. This presents an amazing opportunity for rent growth.
Technology Improvements: Lakeridge has just embraced digital advancements with a new website and online rental capabilities. Implementing full-scale tech solutions will dramatically increase property efficiency.
Low Operating Costs: Already well-maintained, once stabilized, Lakeridge promises low operating costs and cash flow from year one.
Market Growth: Midlothian is on the cusp of an urban renaissance, with over 8,500 home starts in the next two years, signaling a surge in demand for storage due to smaller living spaces and e-commerce expansion.
Utilize Extra Space: With over 11 acres at your disposal, there's significant potential to maximize rents through strategic use of space.
Flexibility in Rental Rates: Enjoy the advantage of multiple rent increases per year based on market demand, optimizing income.
Diverse Tenant Base: From individuals to businesses and online retailers, Lakeridge caters to a wide array of storage needs, including boat and RV storage, reducing economic risks.
Tax Benefits: Leverage 60% bonus depreciation on various property components for substantial tax advantages.
Implement Revenue Management Strategies: Foster loyal customers through enhanced customer relationships, introducing new revenue-driving tactics like Tenant Protection Plans and more.
Potential for Value-Add Opportunities: Capitalize on value-add opportunities through technology upgrades, security enhancements, or facility expansions.
Property Details:
Size: 56,645 net rentable square feet with 564 units, including diverse options like non-climate drive-up, boat/RV, and covered parking.
Construction: Phased between 2005-2011, with a standing-seam metal roof, on approximately 11.37 acres.
Current State: 94% physically occupied, 70% economically occupied, signaling room for operational optimization.
Amenities: Features include 24-hour video surveillance, ample lighting, an on-site office, and perimeter fencing.
Investment Highlights:
4% seller financing offering 12 months interest-only at a fixed rate for stable income.
Projected Returns:
Investor IRR: 20.73%
Equity Multiple: 2.38x
Cash on Cash: 8.8%
Share of Back End Profit: 70%
Why Did Investors Like Most About Lakeridge?
High Return on Investment: A $100K investment could yield approximately $238K over 5 years.
Appreciation Potential: With local economic growth, there's significant appreciation potential.
Experienced Property Management: Our team knows this area, ensuring a smooth transition and efficient operation.
Ready to Invest? Let's Go!Dive into the next investment opportunity with Boring & Co., where we leverage the combination of strategic location, underutilized potential, and favorable financing terms to achieve remarkable returns.
