At 70% physical occupancy and 66% economic occupancy, Clear Creek Storage allows for an investor to recognize the incredible upside potential of its current 541 units. Additionally, the owners are working towards a preliminary site plan with the city for the 3.18 acres of expansion land which will allow for additional revenue growth as the market continues to expand around the neighborhood.
Located conveniently in Killeen, TX, which is the largest city between Dallas and Austin, this facility is just over 2 miles from Interstate 14, providing easy access to the adjacent neighborhoods and Thayer Point Apartments, a 266-unit multifamily apartment community situated next to it. Clear Creek Storage enjoys a high daily traffic of over 28,500 cars passing by Clear Creek Rd and 17,600 cars off Stan Schlueter Loop. In addition, major retailers such as McDonald’s, Walmart, Planet Fitness, ALDI and Starbucks, are situated in close proximity to the facility.
The owners have already implemented rent increases, resulting in minimal move-outs, and plan to carry out another round of increases to drive revenue in the future. An owner seeking to implement their own management and realize immediate growth in NOI would find this an ideal investment opportunity.