- Average Household Income | $113,000
- Expected Population Growth | 14 Percent by 2023
- ½ Mile from $70,000,000 Legacy Stadium, the Most
Expensive High School Football Stadium in the USA
- Upside Opportunity – Facility Doesn’t Have a Website
- Individual Owner Who Has Owned Facility for 15 Years
- $63.36 Per Net Rentable Square Foot
Storage Place of Katy is a 131,003 net rentable square foot self-storage facility located in Katy, Texas which is an affluent suburb on the western edge of the Greater Houston Area. The property sits on approximately 8.58 acres of land and has 19 single story buildings. There are 529 units composed of 137 climate control units, 363 non-climate units, 25 covered parking spots, and four outdoor parking spots. There is also approximately four tenths of an acre of open land that fronts on 5th street that’s included in the offering.
This investment offers an investor the opportunity to acquire an under managed self storage facility and capture considerable upside with more sophisticated management. The current owner has owned the property since 2003 and self manages the asset with an on-site manager. The operation utilizes limited technology and could benefit from the implementation of a company website.
Storage Place of Katy Storage is in the popular western suburb of Katy where there are approximately 63,000 people living within a three-mile radius and projected to grow nearly 14 percent in the next five years. Katy is known for its highly touted school district, award-winning residential neighborhoods, and close access to several prominent Energy Corridor employers. Supporting this high standard of living is an average household income of over $113,000 within three miles of the property. The facility has frontage on both 5th Street and Katyland Drive and benefits from nearly 14,000 vehicles daily between both streets passing the location. Additionally, Storage Place of Katy is about a half mile down the street from the Katy ISD football complex that houses two high school stadiums for the districts eight high schools. One of the stadiums is the 12,000 seat Legacy Stadium which opened in 2017 and at $70,000,000, is the most expensive high school football stadium in the country. In addition to being close to the heart of a Texas high school football hotbed, the facility sits less than one mile from Katy Mills Mall, Typhoon Texas Waterpark, and numerous national retailers.
As of October 31st, 2018, Storage Place of Katy is approximately 90 percent physically occupied.