Listing Summary
Calvary Realty is pleased to present Smart Drop Self Storage, a strategic investment property located at 2002 Avenue S in the rapidly growing city of Lubbock, Texas.
Full Description
John 14:6: Jesus declared, "I am the path, the reality, and the vitality. No one reaches the Father except through me."
Investment Alert: Smart Drop Self Storage in Lubbock, TX
Calvary Realty proudly presents Smart Drop Self Storage, an exceptional investment opportunity at 2002 Avenue S in Lubbock, Texas. This strategically located facility, just one mile from Texas Tech University within a metro area of over 360,000, is primed for high demand.
Priced at just $150,000 as a foreclosure sale, this 7,480-square-foot facility offers 44 units and an enticing proforma cap rate of 12%. Built in 1976 and expanded in 1985 on 0.31 acres, it boasts gated access, lighting, and Easy Storage management software. Despite its current 11% occupancy, this property represents significant value-add potential. Stabilizing occupancy could easily drive cap rates into double digits, capitalizing on Lubbock's rapid growth, affordability, and a five-mile population of 180,000 residents. Don't miss this chance to acquire a high-yield asset in a thriving market.
Quick Glance
- Listing ID:
CL-Texas-25920
- Status:
Active
- Year Build:
1976
- Building Size:
7,480 SqFt
- Lot Size:
N/A