Smart Drop Self Storage 2002 Avenue S Immeuble | 722 m² | Spécialité | À vendre 127 401 € | Taux de capitalisation 12,05 % | Lubbock, TX 79411

John 14:6 - Jesus said unto him "I am the Way, the Truth, and the Life. No one comes to the Father except through Me".
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. Situated within the Lubbock Metropolitan Statistical Area, which boasts a population of over 360,000, this facility is only one mile from Texas Tech University, making it a prime location for storage demand. Smart Drop Self Storage offers 7,480 rentable square feet across 44 units, with an attractive price per square foot of $20.05 and a proforma cap rate of 12%.
Built in 1976 and expanded in 1985, this facility occupies 0.31 acres and includes two buildings totaling 7,480 enclosed square feet. Despite its current 11% physical occupancy, the property offers tremendous value-add potential, especially with the stabilization of occupancy levels which could yield a cap rate in the double digits or higher. The facility is equipped with gated access, lighting, and the Easy Storage management software, which facilitates efficient operations and enhances the tenant experience. Its proximity to US Highway 62 & 84 further supports accessibility for both local and university-based clients.
Offered at $150,000, this foreclosure sale provides an excellent opportunity for investors seeking a high-yield asset in a strong market. The area surrounding Smart Drop Self Storage benefits from robust population growth, ranking Lubbock as one of the fastest-growing and most affordable cities in the U.S. With a five-mile population of approximately 180,000 residents and increasing demand for storage, this property offers significant upside potential for investors ready to capitalize on a well-located facility with ample room for occupancy improvement.