Investment Overview

Built in 2023 and currently in its initial lease-up phase, Fly By Storage is a 30,600 rentable-square foot storage property resting on approximately 1.84 acres in Longview, Texas. The facility’s construction quality is “Class-A” in every respect, and it contains 135 interior climate-controlled units and 10 enclosed boat/RV units. The facility features concrete driveways, an on-site manager’s office, personalized key-pad access, and 24-hour video surveillance cameras. Easily accessible via Texas Highway 322 (upon which more than 10,000 vehicles travel each day), the facility’s close proximity to East Texas Regional Airport (located directly across the street on Highway 322) and Lake Cherokee (less than two-miles away) heightens what was already a highly visible location in its own right. Offered for $2,350,000, the facility represents a unique opportunity to purchase an investment-grade facility at its replacement cost of only $76.80 per rentable-square foot. As of October 15, 2024, the facility’s 45 percent physical occupancy rate suggests the current owner has already completed most of the “heavy lifting”. Furthermore, given the facility’s size – as well as its modern amenities, and best-in-class physical construction – it’s reasonable to assume a new operator could manage the facility remotely, thereby improving a new operator’s chances of generating above-market yields.