820 S. Greenville Avenue
Allen (Dallas MSA), TX 75002
- $79,246 monthly net operating income – an 8.93% increase over July
- 7% occupancy
- $104,938 rental income – a 4.27% increase over July
Year-To-Date 2023 Financial Performance
- Average square foot occupancy has increased 13%
- Square foot occupancy has increased 11.5%
- Rental income has increased $14,294 per month
- Net income has increased $10,101 per month
Managed By Largest Self Storage Operation in the U.S.
- Upon its merger with Life Storage, Inc., Extra Space Storage became the largest storage operation in the U.S.
- This merger will make EXR the biggest player in the self-storage market with 12% of the market share
- The combined company is expected to have a pro forma equity market cap of approximately $36 billion and total enterprise value of approximately $47 billion.
New High Quality Self Storage Facility
- The Class A institutional asset was recently constructed in 2019
- High quality concrete and steel construction
- The newly constructed self-storage facility benefits from 100% climate controlled units
- Variety of unit sizes from 5 x 5 to 20 x 20
Historically High Occupancy
- As of May 2023, ESS has maintained high occupancy levels with the average rolling 12-month total unit occupancy of 86.2% and total square foot occupancy of 85.6%
Opportunity to Increase Investment Return
- An investor can increase overall return by increasing occupancy to a conservative stabilized 90% occupancy.
- Potential rents per square foot have the ability to steadily increase by an average of approximately $3 psf, further increasing an investors overall return on investment
- Ideal investment for any passive investor – minimal landlord obligations
- Any investor will benefit from the management by Extra Space Storage, a best-in-class company that handles all day-to-day activities including maintaining the subject property
- Extra Space Storage provides thorough monthly financials and reports creating full transparency to the health of the facility
- The new high-quality construction eliminates any significant capital expenses in the near future for any investor
Essential Business & Recession Proof Investment
- By 2027, the global hemodialysis and dialysis market is expected to reach $178 billion, a 7.7% compounded annual growth rate according to Future Business Insights.
- Given the current market conditions, the medical sector provides security to any investor.
- Post-COVID, investors are seeking “Essential Businesses” that continue to weather any storm and are not impacted by ongoing disruptions.
- 8 million people worldwide depend on dialysis treatment with 85% for treatments in the US performed in-center.
- 278,375 population in 5-mile radius
- 42% annual population growth rate between 2020-2022 in 1-mile radius
- 2022 median age of 37 years old
- $135,756 household incomes in 5-mile radius
- 34% annual household income growth rate between 2020 – 2022
High Traffic Along Major Corridor to Highway
- The subject property benefits from its ideal location along the highly trafficked Bethany Drive with 35,610 cars per day
- Bethany Drive is a major thoroughfare that connects residents and commuters to Highway 75, the major highway that connects Allen to downtown Dallas
Signalized Intersection – Multiple Access Points
- Located at the signalized intersection of Bethany Drive and S. Greenville Avenue providing multiple ingress and egress points of access, imperative for self-storage clients
Watters Creek Village – 52 Acre Mixed Use Development
- Extra Space Storage is ideally located across Highway 75 from this unique, resort-style mixed-use development
- This major trade area draw includes several retail options, restaurant, office space and residential lofts – ideal trade area generator for a self-storage facility
- Watters Creek is anchored by Market Street Grocery, Cheesecake Factory, PF Chang’s, Mi Cocina, Fish City Grille, DSW Shoe Warehouse and several other nationals