- UNDER CONTRACT
- 10th Largest City in Louisiana
- Prime Location for Seafaring Occupations with Easy Waterway Access to the Gulf of Mexico
- Affordable City to Live with Extensive Cultural Opportunities
- Local Job Sectors Include: Oil & Gas, Shipbuilding, Seafood, and the Hospital
- High Daily Traffic Count of 21,523
- 26 Miles Southwest of the Edge of the New Orleans MSA
East Side Storage & RV Park is a 77,660 net rentable square feet (“NRSF”) storage facility in Houma, Louisiana. There is also a RV Park next door that was built in 2013, contributes 21 percent of the total revenue, and is managed from the storage leasing office. The investor of this high yielding business will experience immediate cashflow from a stable storage business in southern Louisiana.
East Side Storage is located on the south side of Houma, Louisiana. 70 percent of the total revenue is generated from this component which consists of approximately 13,000 NRSF of climate controlled storage and 42,000 NRSF of non-climate controlled storage. The leasing office and majority of the storage is on the west side of the street, but there is a storage building across the street as well. Additional revenue is generated from retail sales (boxes, etc.), U-Haul commissions, and the lease of a billboard to Larmar. Security measures include cameras, keypad-controlled doors, and an on-site manager. Three of the four HVAC air conditioning units have been rebuilt (compressors, etc.) in the last two years. Drive lanes are concrete, doors are metal rollup, and the roof is galvanized metal that’s painted. All the roofs are original (1993 – 2000) but in good shape and recently had all their bolts replaced as a pre-emptive maintenance measure. This location is not in a flood zone and strategically located near Leonard Chabert Hospital and Houma airport. The leasing office is staffed 48 hours a week by a couple who live next door in the RV Park. This couple gets complimentary rent for their RV and also a monthly salary. They started in March of 2019 with the understanding of staying two years. The RV Park is next door and on the same parcel.
The RV Park consists of 22 RV spaces all with water, sewer, and electrical hookups. 21 percent of the total revenue is generated from this component and it is managed by the East Side Storage leasing office, next door. The entire park including bathhouse and sewage treatment system was built in 2013. Water is provided by the city. Drive lanes and parking spaces are all gravel. WiFi and a dumpster is offered complimentary to guests. Security measures include a keypad-controlled door to the bathhouse and on-site managers. The on-site managers also manage the storage business. Customers of the RV park are a mix of retirees and local transient workers for sectors including oil and gas, construction, and aviation.
The third component of revenue is the satellite storage location 10 miles away called Anchor Down Boat & RV Storage. This component is 9% of total revenue and consists of 46 units totaling 23,000 NRSF of enclosed storage for boats & RVs. Anchor Down is strategically located closer to the ocean. Security measures include lights, a locked gate, and cameras. Doors are all metal and a mix of roll up and swing.
Houma, Louisiana is 26 miles southwest of the edge of the New Orleans MSA. It is the 10th largest city in Louisiana based on the 2017 census. Considered Cajun country, Houma is a mix of the working class and entertainment sectors. The city is a prime location for charter fishing adventures, bird watching, and swamp tours. The city also has a deep history of French culture resulting in the downtown area being listed on the National Register of Historic Places. Houma is surrounded by the Intracoastal Highway and has close proximity to the Gulf of Mexico. Residents of Houma make their living from the Gulf. The oysters from Terrebonne Parish are internationally known as the finest in the world. Work as shrimpers, oystermen, fishermen and trappers are prominent professions. The oil industry and ship building also provide jobs.
Currently, the population is approximately 56,144, giving the city a suburban feel. Median household income is approximately $43,984 and the median home value is approximately $153,000. In 2013, Houma was bestowed the designation as an “affordable” city by the Demographics 2013 International Housing Survey. Although the investor will experience immediate cash flow, upside includes implementing a tenant insurance sales program, optimizing the online presence to improve occupancy, and installing solar to offset the high utility bills due to the climate controlled storage and RV park.