4230 Highway 377 S
Brownwood, TX 76801

Advanced Security Mini Storage is a 27,820 rentable-square foot self-storage facility resting on apx. 13.95 acres in Brownwood, TX. Built in 1999, it features a manager’s office, garage-style roll up doors, a personalized key-pad gate, perimeter fencing and lighting, and land for storage expansion. Additionally, the facility benefits from the excellent visibility and accessibility provided by its strategic location on Hwy 377 South, one of the main thoroughfares through the city of Brownwood. Also sitting on the 13.95-acre parcel is an apx. 6,000 square-foot metal commercial building in which the seller has operated a golf cart and golf accessory business for over 20 years. The building is composed of 4,000 square-feet of floor space with a kitchen and two bathrooms as well as 2,000 square-feet of garage-style space with multiple roll up doors, allowing easy access from the side and rear of the building. The commercial building will be vacated by the seller upon a sale, and conservative estimates indicate a new owner could lease the commercial building on a modified gross basis for apx. $4-$6 per square-foot, thus generating $24,000-$36,000 in gross revenue each year. Contrarily, the soon-to-be vacant building could be converted to climate-controlled self-storage, which the submarket appears to be lacking. The commercial building and self-storage facility may be purchased individually - $300,000 for the vacant building and $850,000 for the storage - or combined at a reduced price of $1,100,000. Offered for $850,000, a new investor would be purchasing Advanced Security Mini Storage for a broker-adjusted 5.26 percent year-one cap rate. Additionally, the facility’s historically high occupancy suggests a new operator will have ample opportunity to both expand the property with climate-controlled or boat and RV storage and grow revenue via timely rate increases. To be sure, the facility has remained more than 98 percent physically occupied for the past several years.