San Antonio Commercial Advisors is pleased to exclusively offer this ±4.38-acre development opportunity in Athens, Texas. The parcel features almost 500 feet of prime frontage on Texas State Highway 19, just three miles from the center of town and the Henderson County Courthouse. The parcel is just north of Athens Middle School.
Improvements include six large storage buildings measuring 30’ x 40’ each. Currently 100% occupied, three of the buildings were built in 2016 and three in 2018. At current occupancy, the existing units gross $43,200/year. The site has amazing potential in this underserved east-Texas submarket.
Based on 40% coverage, the new development would encompass 65,000 square feet of standard drive-up storage units in a variety of sizes ranging from 10x10 to 12x30. The average rent/sf is conservatively estimated to be $0.60/month, or an annual gross potential rent is $468,000. The combined gross potential rent is $511,200. There are no restrictions on development.The exceptional location is less than one mile from the Athens Municipal Airport, and only a ½-mile from the Athens Highway 7 Loop, allowing easy access to Texas State Highway 31 and US Highway 175. It is about an hour southeast of Dallas, Texas and about 40 miles west of Tyler, Texas. REQUEST OFFERING MEMORANDUM