1406 Churchill Drive, Granite Shoals, TX 78654

Established mixed use, multiple income stream, commercial property in the heart of the Highland Lakes in Granite Shoals. Currently priced at 8.0 CAP rate, this property is the largest and only secure storage facility in Granite Shoals, located 1 block south of the busy FM1431.

Visible from FM1431, which is uniquely noticeable by its blue doors. It consists of 143 different units: 118 self-storage (5x5 to 20x20), 10 efficiency apartments (500 sqft), 13 boat/RV parking spots, a 3,000 sqft warehouse (40x75), and a 1,200 sqft shop (20x60).

Together it totals approx. 32,950 sqft of net rentable footage on 2.74 acres. 3 of the 10 apartments have been fully updated, all apartments had appliances recently replaced, and they have sustained 99% occupancy over the last 10 years. The warehouse & shop have also sustained 98% occupancy over the last 10 years.

Self-storage has maintained above average occupancy, currently 75%. All apartments are individually electric metered paid by tenant, water is provided by onsite private well, and all have septic systems making the utility expenses virtually nothing for the owner.

The property is professionally managed by a 3rd party and utilizes online software and website to manage virtually all aspects of the administrative processes,. To our knowledge the City of Granite Shoals will not be approving any new self-storage facilities plus several newly proposed residential developments in close proximity make this a safe play. Seller is a LREB