Katy Kingsland Self Storage was an off-market property acquisition. The property is located in the heart of Katy, TX. A mature, high-end demographic suburb of Houston. With upsides in both management and enhancements, this property was a very attractive purchase.
Katy is part of the Houston Metropolitan Statistical Area (MSA) and is located within Harris County. Due to the subject property’s location, many of the economic factors are derived from the MSA. Houston is recognized worldwide for its energy industry, particularly oil and natural gas; and is home to Texas Medical Center, the world’s largest concentration of healthcare and research institutions, NASA’s Johnson Space Center, and five separate and distinct state universities. The major transportation routes in the local area are Interstate 10 and State Highway 99.
In 2016, with a total population of 6,830,304, MSA experienced an annual growth rate of 2.4%, which is higher than the Texas annual growth rate of 1.8%.
There are 18 school districts in the city of Houston and 112 magnet schools specializing in disciplines such as the health professions, visual and performing arts, and the sciences. The area also encompasses approximately 300 accredited private schools.
The subject property is accessible from Kingsland Blvd. and Asheboro Dr. With an average area household income of approximately $117,520 and a median home value of $169,306, the local area is predominately retail, office, industrial, and residential. A vast network of community services and facilities are readily available in the surrounding area.