move it self storage - south austinlonghorndan.com/wp-content/uploads/2016/05/move-it... · this...

22
EXCLUSIVE OFFERING from self storage investment sales financing solutions MOVE IT SELF STORAGE - SOUTH AUSTIN 5405 Wasson Road Austin, TX 78745 AUSTIN HOUSTON ATLANTA

Upload: others

Post on 01-Aug-2020

3 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

E X C L U S I V E O F F E R I N G from

self storage • investment sales • f inancing solutions

M O V E I T S E L F S T O R A G E - S O U T H A U S T I N5 4 0 5 Wa s s o n R o a d A u s t i n , T X 7 8 7 4 5

A U S T I N H O U S T O N AT L A N TA

Page 2: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

1

Bellomy & Co. is a full-service commercial real estate brokerage company focusing on the sale of self-storage,

industrial, office, and retail properties nationwide.

S T A Y I N T O U C H • 5 1 2 5 0 1 1 6 0 4 / B E L L O M Y C O . C O M

Page 3: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

2

Table of ContentsB E L L O M Y & C O .

Disclaimer 4About the Facility 5About the Facility 6South Austin Overview 7St. Elmo District 8Area Multi-Family Developments 9Details & Amenities 10Unit Mix 112015 - 2016 Annualized Profit & Loss 12Seven Year Analysis 13Location & Map 14Location & Map 15Photos 16Photos 17Photos 18Photos 19Rent Comp 20Information About Brokerage Services 21

Page 4: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

3

Exclusive AdvisorsB E L L O M Y & C O .

B I L L B E L L O M Y M I C H A E L J O H N S O N J O H N A R N O L D

t. 512 501 1604c. 832 623 1690

[email protected]

t. 512 270 6658c. 713 775 6478

[email protected]

t. 404 445 2001c. 404 803 4460

[email protected]

Page 5: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

4

Disclaimer

This is a confidential Offering Memorandum (the “Offering Memorandum”) intended solely for your limited use and benefit in determining whether you desire to express further interest in purchasing the “Property”.

This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on behalf of the owner of the Property (the “Owner”)and has been reviewed by representatives of the Owner. It contains select information pertaining to the Property and does not purport to be an all-inclusive representation of the state of affairs of the Property, or to contain all the information, which prospective investors may require. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and GCCP. The information contained herein was obtained from third parties, and it has not been independently verified by GCCP. Prospective investors should have the experts of their choice inspect the Property and verify all information. GCCP is not qualified to act as or select experts with respect to legal, tax, environmental, building construction, soils-drainage or other such matters. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. Neither the Owner nor GCCP, nor any of their respective directors, officers, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy of completeness of this Offering Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Offering Memorandum or use of its contents.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers on the subject Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Offering Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Offering Memorandum or making an offer on the Property unless and until written agreement(s) for the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Offering Memorandum, you agree that this Offering Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Offering Memorandum or any of its contents to any other entity without prior written authorization of the Owner or GCCP. You also agree that you will not use this Offering Memorandum or any of its contents in any manner detrimental to the interest of the Owner or GCCP.

GCCP reserves the right to submit the Property to additional clients on terms that may or may not be identical to the terms contained herein. By receipt of this Offering Memorandum, you acknowledge that competing interests may develop in connection with offers on the Property, and waive any conflict of interest that might arise as a result thereof. In such case, GCCP expressly disclaims any obligation to advance the interest of any client at the expense of any other client who may receive this Offering Memorandum.

B E L L O M Y & C O .

Page 6: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

5

About the FacilityB E L L O M Y & C O .

L O C A T I O N

• Austin, Texas

• 0.8 Miles to St. Elmo Market - $120mm Mixed Use Development

• +/- 5 Miles From Downtown

• Dynamic South Austin Location

• Congress & Stassney Submarket

• 1,400 Apartment Units within 1 Mile

F E A T U R E S

• $5,490,000

• Class “A” Institutional Property

• 1999 / 2015 Expansion

• Large Office & Retail Sales Space

• 79% Physical Occupancy

• February 2016 - 11,300 NRSF Added

Page 7: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

6

About the FacilityB E L L O M Y & C O .

Move It Self Storage Austin is a class “A” self-storage facility in the rapidly growing South Congress corridor of Austin, Texas.

The property features traditional drive-up units, climate control units, concrete driveways, and steel and metal framing with standing seam roofs. There is an oversized office for retail sales and Uhaul truck rentals. Security features include perimeter fencing, security cameras, and gated entry with keypad access.

The property was built in phases from 1999 to 2016. An 11,300 NRSF climate controlled addition was completed in February 2016. New ownership will be able to take advantage of this new building by continuing to lease the vacant space and bring rental rates to market averages. 2015 gross income was $436,778. Annualized 2016 gross income is $561,099. This gain represents a 28% increase in year-over-year income.

Move It Self Storage Austin is located just off South Congress near the Stassney intersection. This property is located only +/- 5 miles from downtown Austin. There is visibility from Congress Avenue where traffic counts exceed 26,000 vehicles per day. There are more than 3,500 individual apartment units located within one mile of the facility. Six new multifamily developments totaling over 1,800 units have opened within five miles of the property since Q3 2015. There are an additional 5,000 units planned or under construction in the immediate vicinity.

Austin continues to be one of the most difficult markets to find development sites and have self-storage projects entitled. The only two self-storage development projects we are aware of are located at 5402 S. Congress and 8327 S. Congress. 5402 S. Congress is being developed by Austin based World Class Capital Group and is not expected to be complete until middle of 2018. 8327 S. Congress is expected to be complete Q4 2017 and is being developed by Austin based Endeavor Real Estate Group. The additional supply of these units (200,000 sq. ft.) will be more than off-set by the continued population growth of the South Congress / Stassney corridor.

The most exciting development with immediate proximity to Move It Self Storage is the St. Elmo Marketplace. This $150,000,000 development currently under construction features 50,000 sq. ft. of retail, 225,000 sq. ft. of office space, multiple parking garages, outdoor concert venue and hotel. Move It Self Storage is located 1-mile south of St. Elmo Marketplace.

Page 8: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

7

South Austin OverviewB E L L O M Y & C O .

Changes Coming to South Congress Business Landscape

http://kxan.com/2016/09/15/changes-coming-to-south-congress-business-landscape/

The Future of Business on South Congress

http://kut.org/post/what-does-future-hold-local-businesses-south-congress

Austin Set for Huge Population Growth

http://www.bizjournals.com/austin/news/2015/01/26/no-matter-how-you-slice-it-austin-set-for-huge.html

Austin, Texas is Blowing Away Every Other Big City in Population Growth

http://www.slate.com/blogs/moneybox/2015/05/21/population_growth_in_u_s_cities_austin_is_blowing_away_the_competition.html

$120 Million Saint Elmo project to break ground next year

http://www.mystatesman.com/business/120-million-saint-elmo-project-break-ground-next-year/J80JkMCQAoUFhirWuYcSFJ/

Developer fired up about South Austin St. Elmo’s Market and Lofts Proposal

http://www.bizjournals.com/austin/blog/real-estate/2014/09/developer-fired-up-about-south-austin-st-elmos.html

St. Elmo mixed-use project in full swing; developers, details revealed

http://www.bizjournals.com/austin/blog/real-estate/2015/09/st-elmo-mixed-use-project-in-full-swing-developers.html

Page 9: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

8

St. Elmo DistrictB E L L O M Y & C O .

Page 10: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

9

Area Multi-Family DevelopmentsB E L L O M Y & C O .

Property Website Date Completed Units AddressDriving Distance from Move It Self Storage

Recently OpenedSur512 www.livesur512.com Feb-16 352 5100 S Congress Ave .3 MilesAspen Heights Concord www.concordliving.com Jun-16 346 7330 Bluff Springs Rd 2.4 MilesWilliam Cannon Apartment (AH) www.williamcannonapartmenthomes.com Apr-16 252 2112 William Cannon E 2.6 MilesRise www.liveatrise.com Apr-16 338 8001 S IH 35 2.9 MilesSouth Park Crossing www.southparkcrossing.com Oct-16 308 1701 Oak Hill Ln 3.2 MilesIMT Southpark www.imtresidential.com/imtsouthpark/ Sep-15 285 9308 S 1st 3.6 MilesStill Waters Phase I Apr-16 256 515 E Slaughter Ln 3.7 MilesThornton Flats www.thorntonflats.com Oct-16 104 2501 Thornton Rd 3.8 Miles

Total 2,241 Under Construction

Urban Oaks (AH) www.coreone-re.com/urban-oaks/ Mar-17 194 6725 Circle S Rd 1.2 MilesEthos Phase III www.ethos-apartments.com Aug-17 372 8300 Bluff Springs Rd 3.0 MilesStill Waters Phase II Mar-17 256 515 E Slaughter Ln 3.7 MilesGroves South Lamar www.grovessouthlamar.com Aug-17 307 3607 South Lamar 3.9 MilesPost South Lamar II http://postsouthlamar.maac.com/ Jan-17 344 1414 S Lamar Blvd 4.3 MilesLenox Springs Ph I www.odenhughesllc.com/our-communities/ tbd 400 10500 S IH 35 4.3 MilesTwenty 401 Feb-17 156 2401 Grove 5.4 MilesPresidium Edison www.presidiumre.com/expertise/development/ Apr-18 354 4711 Riverside E 5.5 Miles

Total 2,383 Proposed

North Bluff II 52 705 North Bluff Dr 1.1 MilesLas Maderas 250 4500 E William Cannon Dr 2.4 MIlesOak Creek Village II 486 2324 Wilson St 2.9 MilesLenox Springs Ph II 260 10500 S IH 35 4.3 MilesPresidium Wickersham 72 2440 Wickersham 4.6 MilesRancho Garza 370 3801 Ben Garza Lane 5.0 MilesSonghai at Westgate 146 8700 Westgate Blvd 5.0 MilesPresidium Pleasant Valley 430 1600 Pleasant Valley Rd 5.3 MilesLive Oak at Southpark Meadows 330 10301 Old San Antonio Rd 5.7 MilesLaMadrid (AH) 110 11310 Manchaca Rd 5.9 Miles

Total 2,506

Page 11: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

10

T H E P R O P E R T Y

Details &Amenities• Offering Price: $5,490,000

• Year One Cap Rate: 6.41%

• NRSF: 43,775

• GPR / NRSF: $15.14

• Units: 381

• % CC: 62%

• Physical Occupancy: 79%

• Economic Occupancy: 77%

• Construction Detail: Steel &

Metal

• Frontage: S. Congress Visibility

• S. Congress Traffic Count:

26,011 (2015 Tx DoT)

• Acres: 6.85 Acres

• Office Hours: M-F: 9AM - 5:30PM

SAT: 9AM - 3PM

• Gate Hours: 6AM - 11PM Daily

• Utilites: City of Austin

• Expansion Room: No

• Truck Rental: Uhaul

• Software: SiteLink

• Sparefoot: Yes

• Personnel: 1 Full Time

• 1 Mile Population: 18,195

• 3 Mile Population: 141,153

• 1 Mile Avg. HHI: $50,706

• 3 Mile Avg. HHI: $59,989

• 2016 Income Growth: 28.46%

Page 12: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

11

U N I T M I X

Size Type Street Rate Sq. Ft. / UnitTotal Units

Total Sq. Ft. Occupied Vacant Occupancy Occupied Sq. Ft.

Sq. Ft. Occupancy

GPR / Month

GPR / Year

5x5 cc $61 25 19 475 13 6 68% 325 68% $1,159 $13,9085x10 cc $81 50 49 2,450 34 15 69% 1,700 69% $3,969 $47,6285x15 cc $149 75 2 150 1 1 50% 75 50% $298 $3,5767.5x10 cc $141 75 5 375 4 1 80% 300 80% $705 $8,46010x10 cc $131 100 81 8,100 71 10 88% 7,100 88% $10,611 $127,33212.5x10 cc $159 125 1 125 1 0 100% 125 100% $159 $1,9087.5x20 cc $159 150 2 300 0 2 0% - 0% $318 $3,81610x15 cc $159 150 52 7,800 41 11 79% 6,150 79% $8,268 $99,21610x20 cc $235 200 32 6,400 22 10 69% 4,400 69% $7,520 $90,24010x25 cc $309 250 2 500 1 1 50% 250 50% $618 $7,41615x20 cc $335 300 1 300 1 0 100% 300 100% $335 $4,02030x10 cc $345 300 1 300 1 0 100% 300 100% $345 $4,140

5x5 ncc $69 25 2 50 1 1 50% 25 50% $138 $1,6565x10 ncc $71 50 15 750 11 4 73% 550 73% $1,065 $12,78010x5 ncc $69 50 21 1,050 16 5 76% 800 76% $1,449 $17,38810x10 ncc $115 100 28 2,800 27 1 96% 2,700 96% $3,220 $38,64010x15 ncc $159 150 9 1,350 8 1 89% 1,200 89% $1,431 $17,17210x20 ncc $189 200 45 9,000 38 7 84% 7,600 84% $8,505 $102,06010x30 ncc $279 300 5 1,500 5 0 100% 1,500 100% $1,395 $16,740

10x15 park $79 6 - 4 2 67% - - $474 $5,688

Unit Mix

Total Units Total Sq. Ft. Occupied Vacant OccupancyOccupied

Sq. FtSq. Ft.

Occupancy GPR / Month GPR / Yearcc 247 27,275 190 57 77% 21,025 77% $34,305 $411,660

ncc 125 16,500 106 19 85% 14,375 87% $17,203 $206,436park 6 - 4 2 67% - - $474 $5,688

Total 378 43,775 300 78 79% 35,400 81% $51,982 $623,784

Unit Mix Summary

Page 13: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

12

2 0 1 5 - 2 0 1 6 A N N U A L I Z E D P R O F I T & L O S S2015 Jan-Nov 2016

2016 Annualized Adjustments

Gross Potential Rent $444,156 $556,856 $617,995Vacancy $46,982 13% $125,195 25% $83,066 16%Rental Income $397,174 $431,661 $534,929

Retail Sales $5,817 $5,032 $3,811Tenant Insurance Income $13,260 $19,031 $24,572Truck Rental Income $107,266 $74,384 $83,632Admin Fees $3,397 $4,886 $2,916Late Fees $7,110 $7,510 $12,735

Rental Discounts -$10,617 -$14,314 -$15,361Bad Debts - Rent -$834 -$1,253 -$1,851Fees Waived -$365 -$788 -$2,079Bad Debts - Fees -$1,119 -$685 -$872Cost of Sales -$3,658 -$2,565 -$2,004Cost of Tenant Insurance $6,650 -$9,499 -$12,238Cost of Truck Rentals -$86,725 -$59,045 -$67,475Truck Fuel -$387 $236 $384Truck Commissions Adjustment -$192 $0 $0

Effective Gross Income $436,778 $454,590 $561,099 *

ExpensesProperty Taxes $56,445 $54,770 $84,865Salaries & Wages $59,685 $57,380 $50,000Management Fees (5% of EGI) $26,216 $26,633 $26,746Electricity $13,872 $15,138 $16,514Advertising Expense $16,031 $13,075 $14,263Credit Card Fees $6,288 $7,265 $7,925Repairs & Maintenance ($0.15 / NRSF) $3,074 $5,650 $6,566Insurance $3,870 $3,596 $5,000Landscaping $3,954 $4,164 $4,543Security Monitors $1,882 $4,076 $4,447Water & Sewer $7,553 $3,235 $3,529Telephone Expense $2,987 $2,343 $2,556Fees, Subsriptions & Training $879 $2,115 $2,307Software License & Support $624 $1,508 $1,645Mileage & Lodging $1,768 $1,418 $1,546Office Supplies $2,015 $1,272 $1,388Computer $0 $739 $807Trash Collection $720 $629 $686Postage & Overnight $515 $573 $626Bank Service Charges $1,333 $562 $613Lien Sale Expense $451 $473 $516Uniforms $655 $466 $508Pest Control $433 $342 $373Meals & Entertainment $314 $261 $285Small Tools $24 $1,047 $150Network Fee $3,810 $3,355 $0Call Center Services $2,580 $2,749 $0Misc Expense $56 $0 $0Overage/Shortage -$1 -$26 -$29

Total Expenses $218,034 50% 214,808$ 47% $238,376 42%NOI $218,744 239,783$ $322,723

* Annualized T4 Income Aug-Nov 2016

Page 14: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

13

S E V E N Y E A R A N A L Y S I SMarket

AdjustmentsYear 1

ProjectedYear 2

ProjectedYear 3

ProjectedYear 4

ProjectedYear 5

ProjectedYear 6

ProjectedYear 7

ProjectedRevenueGross Potential Rent $617,995 $636,535 $655,631 $675,300 $695,559 $716,426 $737,919 $760,056Vacancy $83,066 16% $63,654 10% $65,563 10% $67,530 10% $55,645 8% $57,314 8% $59,034 8% $60,805 8%Rental Income $534,929 $572,882 $590,068 $607,770 $639,915 $659,112 $678,885 $699,252

Retail Sales $3,811 $3,926 $4,044 $4,165 $4,290 $4,419 $4,551 $4,688Tenant Insurance Income $24,572 $25,309 $26,068 $26,850 $27,656 $28,486 $29,340 $30,220Truck Rental Income $83,632 $86,141 $88,725 $91,387 $94,128 $96,952 $99,861 $102,856Admin Fees $2,916 $3,003 $3,094 $3,186 $3,282 $3,380 $3,482 $3,586Late Fees $12,735 $13,117 $13,511 $13,916 $14,333 $14,763 $15,206 $15,662

Rental Discounts ($15,361) ($15,822) ($16,297) ($16,786) ($17,289) ($17,808) ($18,342) ($18,892)Bad Debts - Rent ($1,851) ($1,906) ($1,963) ($2,022) ($2,083) ($2,145) ($2,210) ($2,276)Fees Waived ($2,079) ($2,141) ($2,205) ($2,271) ($2,339) ($2,410) ($2,482) ($2,556)Bad Debts - Fees ($872) ($899) ($926) ($953) ($982) ($1,011) ($1,042) ($1,073)Cost of Sales ($2,004) ($2,064) ($2,126) ($2,190) ($2,256) ($2,323) ($2,393) ($2,465)Cost of Tenant Insurance ($12,238) ($12,605) ($12,983) ($13,373) ($13,774) ($14,187) ($14,613) ($15,051)Cost of Truck Rentals ($67,475) ($69,499) ($71,584) ($73,732) ($75,944) ($78,222) ($80,569) ($82,986)Truck Fuel $384 $395 $407 $419 $432 $445 $458 $472Truck Commissions Adjustment $0 $0 $0 $0 $0 $0 $0 $0

Effective Gross Income $561,099 $599,837 $617,832 $636,367 $669,369 $689,450 $710,134 $731,438

ExpensesProperty Taxes $84,865 $87,411 $90,033 $92,734 $95,516 $98,382 $101,333 $104,373Salaries & Wages $50,000 $51,500 $53,045 $54,636 $56,275 $57,964 $59,703 $61,494Management Fees (5% of EGI) $28,055 $29,992 $30,892 $31,818 $33,468 $34,473 $35,507 $36,572Electricity $16,514 $17,009 $17,520 $18,045 $18,587 $19,144 $19,719 $20,310Advertising Expense $14,263 $14,691 $15,132 $15,586 $16,054 $16,535 $17,031 $17,542Credit Card Fees $7,925 $8,163 $8,408 $8,660 $8,920 $9,188 $9,463 $9,747Repairs & Maintenance ($0.15 / NRSF) $6,566 $6,763 $6,966 $7,175 $7,390 $7,612 $7,840 $8,076Insurance $5,000 $5,150 $5,305 $5,464 $5,628 $5,796 $5,970 $6,149Landscaping $4,543 $4,679 $4,819 $4,964 $5,113 $5,266 $5,424 $5,587Security Monitors $4,447 $4,580 $4,718 $4,859 $5,005 $5,155 $5,310 $5,469Water & Sewer $3,529 $3,635 $3,744 $3,856 $3,972 $4,091 $4,214 $4,340Telephone Expense $2,556 $2,633 $2,712 $2,793 $2,877 $2,963 $3,052 $3,144Fees, Subsriptions & Training $2,307 $2,376 $2,448 $2,521 $2,597 $2,675 $2,755 $2,837Software License & Support $1,645 $1,695 $1,746 $1,798 $1,852 $1,907 $1,965 $2,024Mileage & Lodging $1,546 $1,593 $1,641 $1,690 $1,740 $1,793 $1,846 $1,902Office Supplies $1,388 $1,430 $1,473 $1,517 $1,562 $1,609 $1,657 $1,707Computer $807 $831 $856 $881 $908 $935 $963 $992Trash Collection $686 $706 $727 $749 $772 $795 $819 $843Postage & Overnight $626 $644 $664 $684 $704 $725 $747 $769Bank Service Charges $613 $631 $650 $670 $690 $710 $732 $754Lien Sale Expense $516 $531 $547 $564 $581 $598 $616 $635Uniforms $508 $524 $539 $556 $572 $589 $607 $625Pest Control $373 $384 $395 $407 $419 $432 $445 $458Meals & Entertainment $285 $294 $302 $312 $321 $331 $340 $351Small Tools $150 $155 $159 $164 $169 $174 $179 $184Network Fee $0 $0 $0 $0 $0 $0 $0 $0Call Center Services $0 $0 $0 $0 $0 $0 $0 $0Misc Expense $0 $0 $0 $0 $0 $0 $0 $0Overage/Shortage ($29) ($29) ($30) ($31) ($32) ($33) ($34) ($35)

Total Expenses $239,685 43% $247,971 41% $255,410 41% $263,072 41% $271,660 41% $279,809 41% $288,204 41% $296,850 41%NOI $321,414 $351,866 $362,422 $373,295 $397,709 $409,641 $421,930 $434,588

Value at a 5.75% Cap Rate $7,558,048Value at a 6.00% Cap Rate $7,243,129Value at a 6.25% Cap Rate $6,953,404

Page 15: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

14

M O V E I T S E L F S TO R AG E - S O U T H AU S T I N5405 WA S S O N R OA DAU S T I N , T X 78745

Location

Location & Map

Page 16: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

15

M O V E I T S E L F S TO R AG E - S O U T H AU S T I N5405 WA S S O N R OA DAU S T I N , T X 78745

Location

Location & Map

Page 17: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

16

PhotosB E L L O M Y & C O .

Page 18: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

17

PhotosB E L L O M Y & C O .

Page 19: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

18

PhotosB E L L O M Y & C O .

Page 20: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

19

PhotosB E L L O M Y & C O .

Page 21: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

20

Rent CompB E L L O M Y & C O .

Address

Phone

Distance

Manager's Name

Office Hours

Gate Hours

Admin Fee

Insurance

NON-CLIMATE CONTROL

5x10 NC 50 sf $71.00 $1.42 / sf $61.50 $1.23 / sf $72.00 $1.44 / sf na $70.00 $1.40 / sf

10x10 NC 100 sf $115.00 $1.15 / sf $141.50 $1.42 / sf $92.00 $0.92 / sf $110.00 $1.10 / sf $110.00 $1.10 / sf

10x15 NC 150 sf $159.00 $1.06 / sf $180.50 $1.20 / sf $107.00 $0.71 / sf $125.00 $0.83 / sf $140.00 $0.93 / sf

10x20 NC 200 sf $189.00 $0.95 / sf $192.50 $0.96 / sf $125.00 $0.63 / sf $130.00 $0.65 / sf $205.00 $1.03 / sf

CLIMATE CONTROL

5x10 CC 50 sf $81.00 $1.62 / sf $71.50 $1.43 / sf

10x10 CC 100 sf $131.00 $1.31 / sf $159.50 $1.60 / sf

10x15 CC 150 sf $159.00 $1.06 / sf $198.50 $1.32 / sf

10x20 CC 200 sf $235.00 $1.18 / sf $237.50 $1.19 / sf

$20.00

Various online and in-store specials - 1 or 2 months 1/2

price

Required - Waived with proof of

homeowner's or renter's coverage

Required - Waived with proof of

homeowner's or renter's

coverage

Required - Waived with proof of

homeowner's or renter's

coverage

Not Required, Available

Notes

Sparefoot Special for AAA Members - 1st Month Free + $20

Gift CardUHaul

512 872-3277

M-F: 9:30-6 SAT: 8-5

SUN: 11-3M-SAT: 9-6 SUN: 12-4 M-F: 9-5:30

Life Storage

Various online and in-store specials - 50% off first and/or

second month

Darby

$10.00

201 W. Stassney Lane

Austin, TX 78745

M-F: 9-5:30 SAT: 9-3

Closed Sunday

512 649-9775512 383-8787

4515 S Congress Ave

Austin, TX 78745

Move It Self Storage - South

Austin St. Elmo StorageUS Storage Centers

5405 Wasson Road

Austin, TX 78745

405 E St Elmo Rd.

Austin, TX 78745

Access Self Storage

4341 S Congress

Austin, TX 78745

512 445-5502512 444 2411

1 Mile

Jamie

$20.00

6-10 Daily

1.2 Miles

6-10 Daily

M-F: 10-5

"I'm Around Weekends"

6-11 Daily

.6 Miles

NO CC UNITS NO CC UNITSNO CC UNITS

.8 Miles

Ashley

50% off first full month with two month rental

Not Required

5-11 Daily

Rosa

6-10 Daily

Call Center

None $25.00

$0.00 / sf

$0.20 / sf

$0.40 / sf

$0.60 / sf

$0.80 / sf

$1.00 / sf

$1.20 / sf

$1.40 / sf

$1.60 / sf

5x10 10x10 10x15 10x20

Non Climate Control

Move It Self Storage - SouthAustin

US Storage Centers

Life Storage

Access Self Storage

St. Elmo Storage$0.00 / sf

$0.50 / sf

$1.00 / sf

$1.50 / sf

$2.00 / sf

5x10 10x10 10x15 10x20

Climate Control

Move It Self Storage - SouthAustin

US Storage Centers

Life Storage

Access Self Storage

St. Elmo Storage

Page 22: MOVE IT SELF STORAGE - SOUTH AUSTINlonghorndan.com/wp-content/uploads/2016/05/Move-It... · This Offering Memorandum has been prepared by G.C. Capital Partners LLC (“GCCP”) on

21

Information About Brokerage ServicesB E L L O M Y & C O .

IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, inconspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:

(1) shall treat all parties honestly;(2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner;(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and

4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not

to disclose unless authorized in writing to disclose the information or required to do so by The information materially relates to the condition of the property. With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party. If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations.

The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Approved by the Texas Real Estate Commission for Voluntary Use

Texas law requires all real estate licensees to give the following information aboutbrokerage services to prospective buyers, tenants, sellers and landlords.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.

Buyer, Seller, Landlord or Tenant Date