OFFERING MEMORANDUM

Imperial Storage Solutions & Business E Suites

S U G A R L A N D, T E X A S
 N O N - E N D O R S E M E N T & D I S C L A I M E R N O T I C E

CONFIDENTIALITY & DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving
it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing
Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in
the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any
investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance
of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the
compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant,
or any tenant's plans or intentions to continue its occupancy of the subject property. THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS
OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. In making any decision that relies upon my work, you should know that we have not followed the
guidelines for development of an appraisal or analysis contained in the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation. This
information has been secured from sources we believe to be reliable, but we make no representations of warranties, express or implied, as to the accuracy of the
information. References to square footage or age are approximate. Seller and/or Buyer must verify the information and bear all risk for any inaccuracies. Marcus
& Millichap Real Estate Investment Services is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2023 Marcus & Millichap. All rights
reserved.

NON-ENDORSEMENT NOTICE
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of
any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its
affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant
lessee information about this listing to prospective customers. Activity ID: ZAE0040314

SPECI AL COVID-19 NOTICE

All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions
as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been
retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment
properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers,
accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial,
and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are
not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections,
analyses, and decision-making.

THE TEXAS REAL ESTATE COMMISSION (TREC) REGULATES REAL ESTATE BROKERS AND SALES AGENTS, REAL ESTATE INSPECTORS,HOME WARRANTY COMPANIES, EASEMENT
AND RIGHT-OF-WAY AGENTS AND TIMESHARE INTEREST PROVIDERS. YOU CAN FIND MORE INFORMATION AND CHECK THE STATUS OF A LICENSE HOLDER AT WWW.TREC.
TEXAS.GOV. YOU CAN SEND A COMPLAINT AGAINST A LICENSE HOLDER TO TREC. A COMPLAINT FORM IS AVAILABLE ON THE TREC WEBSITE. TREC ADMINISTERS TWO
RECOVERY FUNDS WHICH MAY BE USED TO SATISFY A CIVIL COURT JUDGMENT AGAINST A BROKER, SALES AGENT, REAL ESTATE INSPECTOR, OR EASEMENT OR RIGHT-OF-WAY
AGENT, IF CERTAIN REQUIREMENTS ARE MET. IF YOU HAVE QUESTIONS OR ISSUES ABOUT THE ACTIVITIES OF A LICENSE HOLDER, THE COMPLAINT PROCESS OR THE
RECOVERY FUNDS, PLEASE VISIT THE WEBSITE OR CONTACT TREC AT:
TEXAS REAL ESTATE COMMISSION: P.O. BOX 12188, AUSTIN, TEXAS 78711-2188 - (512) 936-3000
IM PE R I A L STO R AGE S O L U T I O N S &
BU S I N E S S E S U T I E S
S U G A R L A N D, T E X A S
Summary of Terms
INTEREST OFFERED
Marcus & Millichap has been selected to exclusively market the sale of Imperial Storage Solutions & Business E Suites.

TERMS OF SALE
Imperial Storage & Business E Suites is offered on an Open Bid basis free and clear of existing debt.

C A L L F O R O F F E R S : J U LY 2 6 , 2 0 2 3
All offers should be submitted in a Letter of Intent format. Seller reserves the right to sell prior to call for offers should a
compelling offer be received.
D ATA R O O M
I N V E S T O R I D E N T I F I C AT I O N
The purchasing entity should identify the owner thereof and include a resume outlining their relevant ownership and/or
management experience of comparable properties, as well as a statement for proof of funds.

PROPERTY TOURS
Prospective purchasers are encouraged to visit the subject property prior to submitting offers. However, all property tours must be
arranged with the Marcus & Millichap listing agents. Please do not contact the on-site management without prior approval.
Imperial Storage Solutions & Business E Suites
S U G A R L A N D, T E X A S

TA B L E O F C O N T E N T S

07 31
O F F E R I N G S U M M A RY C O M PA R A B L E P R O P E RT I E S
SECTION 1 SECTION 4

13 35
P R O P E RT Y D E S C R I P T I O N MARKET OVERVIEW
SECTION 2 SECTION 5

25
F I N A N C I A L A N A LY S I S
SECTION 3
Imperial Storage Solutions
& Business E Suites

This information has been secured from sources we believe to be reliable, but we make no
representations or warranties, expressed or implied, as to the accuracy of the information.
References to square footage or age are approximate. Buyer must verify the information and bears
all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are
for example purposes only and do not represent the current or future performance of the property.
Marcus & Millichap Real Estate. Investment Services is a service mark of Marcus & Millichap Real
Estate Investment Services, Inc. © 2023 Marcus & Millichap ACT ID ZAE0040314
 Offering Summary
IMPERIAL STORAGE SOLUTIONS &
BUSINESS E SUITES
S U M M A R Y

Offering Highlights
IMPERIAL STORAGE SOLUTIONS & BUSINESS E SUITES
O F F E R I N G

1 5 5 0 0 V O S S R O A D, S U G A R L A N D, T E X A S 7 7 4 9 8
|

L I S T P R I C E :
S U I T E S

M A R K E T B I D
E
B U S I N E S S

V I TA L D ATA

Total Rentable Units (Including Business E Suites) 708

&

Rentable Square Feet / Including Business E Suites 75,342 / 89,718

S O L U T I O N S

Physical Occupancy (SF) as of May 2023 74.87%

Economic Occupancy Thru May 2023 72.45%

Adjusted T5 Income Ending May 2023 NOI $1,256,986

Pro Forma End of Year 1 NOI $1,453,569

S T O R A G E
I M P E R I A L

8
 10

D E S C R I P T I O N
Investment Highlights 8
Houston

SUGAR LAND DEMOGRAPHICS // $118,000 Average Household

P R O P E RT Y
Income -The facility sits near Imperial Sugar Land which is a 720- 6

acre master planned development featuring Constellation Field, 69 610

home of the Sugar Land Space Cowboys, which is the Houston
Astros AAA affiliate.

|
CLASS “A” PROPERTY // 708 Units | 89,718 NRSF that sits on

S U I T E S
over nine acres of land. Self-managed with tremendous upside.

RECENT CONSTRUCTION // Approximately two-thirds of the

E
property is less than four years old and 75 percent of the property 8

B U S I N E S S
has been constructed since 2015.

HIGH BARRIER TO ENTRY LOCATION // Only one competing

storage facility has been constructed since 2010.
288

&
DENSELY POPULATED AREA // The facility sits within three

S O LU T I O N S
miles of over 98K people and three-tenths mile from Highway 6,
which is Sugar Land’s primary retail corridor and boasts traffic
6
counts over 50,000 VPD.

COMPLETE OFFICE AND STORAGE BUSINESS PARK //

S T O R A G E
The property features a dozen different applications including
Self-Storage, Executive Suites, Office Warehouses, RV & Boat
Storage, Freezer Storage, Cold Storage, and Outdoor Parking.
Additionally, 350 tenants use the property as their

I M P E R I A L
business address.

ONE OF THE TOP U- HAUL DEALERS IN TEXAS // The facility

generated nearly $100,000 in truck rental revenue in 2022 thanks
in large part to Sugar Land’s restrictions on rental trucks.
9
S U M M A R Y

Investment Overview
Imperial Storage Solutions & Business E Suites offers a complete office and storage solution for companies and small entrepreneurs alike, all at one busi-
O F F E R I N G

ness park. From renting an executive suite along with a storage unit or leasing an office warehouse space together with an additional parking spot a large
majority of the tenants use a combination of the products/services that Imperial Storage Solutions and Business E Suites provides. As such ownership is
able to meet the needs of the tenants on many different levels which has positively impacted customer retention. Furthermore, Imperial Storage Solutions
and Business E Suites is one of the top U-Haul Truck rental operators in Greater Houston in large part to being just outside of the city limits and not being
subject to the City of Sugar Land’s rental truck restrictions.
|
S U I T E S

Imperial Storage Solutions and Business E Suites is a 708-unit, 89,718 Net Rentable Square Foot storage facility located in Sugar Land, Texas which is an
affluent Southwest Houston suburb. The property sits on just over nine acres of land and has nine single-story buildings and one two-story building that
houses the management office, 14 office warehouse spaces, and 48 executive suites. There are 172 traditional climate-controlled units and 226 drive-up
non-climate-controlled units. The facility also rents freezer and refrigerated cold storage both by cubic foot.
E
B U S I N E S S

The property was initially built in 2000, but the vast majority of the construction was completed in 2020. Imperial Storage Solutions and Business E Suites
feature several amenities commonly found in Class-A storage facilities. There’s a large full-service management office, an entrance gate with keycode
access, video surveillance throughout the facility, perimeter fencing, and units with roll-up doors. The driveways are a mix of concrete, permeable True Grid
Pavers, and road base. There is a large marquee sign with a digital reader board along with signage at the corner of Highway 6 and Voss Road. Additionally,
ownership has maintained the facility with exceptional care and there are four backup generators dedicated to the cold storage area.
&
S O L U T I O N S

Imperial Storage Solutions and Business E Suites is in a densely populated residential area of southwest Houston and gets its name from the historic
Imperial Sugar Factory which is where the name Sugar Land came from. The facility is also less than a mile from the newly developed 720-acre Imperial
Sugar Land master-planned community. Imperial Sugar Land by Johnson Development is the largest remaining development in the city of Sugar Land with
a wealthy residential base and several retail and mixed-use projects under construction. The development is also home to the Sugar Land Space Cowboys
which is the AAA affiliate of the Houston Astros. The facility is surrounded by a three-mile population of over 98,000 and is projected to increase by 8.5
percent by 2027. It’s not only the quantity of the nearby population, but the annual average household income is a whopping $118,000 providing Imperial
S T O R A G E

Storage Solutions and Business E Suites with a massive tenant base that has the means to store household goods, RVs and boats, or utilize the Business E
Suites. Imperial Storage Solutions and Business E Suites fronts on Voss Road which connects Old Richmond Road and FM 1464 to Highway 6 and the res-
idential areas of north Sugar Land. In addition to the strong nearby residential demographics, Imperial Storage Solutions sits ¼ mile from Highway 6 which
has daily traffic counts of over 50,000 and numerous national retailers within close proximity.
I M P E R I A L

Imperial Storage Solutions and Business E Suites offer an investor the opportunity to acquire a large newly constructed asset in a high barrier-to-entry area.
There has only been one new self-storage facility constructed in well over a decade. The owner says that “the only reason folks are moving out of the office
warehouse spaces is because they need more space.” Fortunately, there are approximately two acres of outdoor parking that could be used for future expan-
sion to accommodate storage or warehouse needs.

1 0
Imperial Storage Solutions
& Business E Suites

This information has been secured from sources we believe to be reliable, but we make no
representations or warranties, expressed or implied, as to the accuracy of the information.
References to square footage or age are approximate. Buyer must verify the information and bears
all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are
for example purposes only and do not represent the current or future performance of the property.
Marcus & Millichap Real Estate. Investment Services is a service mark of Marcus & Millichap Real
Estate Investment Services, Inc. © 2023 Marcus & Millichap ACT ID ZAE0040314
 Property Description
IMPERIAL STORAGE SOLUTIONS &
BUSINESS E SUITES
D E S C R I P T I O N

Property Description
PROPERTY ADDRESS 15500 Voss Road | Sugar Land, TX 77498
ASSESSOR’S PARCEL NUMBER 0009-00-000-1500-907
P R O P E RT Y

# OF UNITS 708
RENTABLE SQUARE FEET / INCLUDING E SUITES 75,342 / 89,718
YEAR BUILT 2001-2020
|

LOT SIZE 9.08 Acres

S U I T E S

NUMBER OF BUILDINGS 10
NUMBER OF STORIES Nine Single-Story Buildings; One Two-Story Building
CAR COUNT 15,504 VPD on Voss Road | 53,375 VPD on Highway 6
E
B U S I N E S S

HIGHWAY ACCESS The property is 3/10 of a mile west of State Highway 6.

STREET FRONTAGE Approximately 393 Feet of Frontage on Voss Road
CROSS STREET N/A
THREE MILE POPULATION 98,396
&

THREE MILE HOUSEHOLDS 30,590

S O LU T I O N S

FENCING Chain Link & Wood Perimeter Fencing, Wrought Iron Entry Gate
PARKING SURFACE | DRIVEWAYS Concrete | Truegrid Paver | Road Base
Brick, Metal Framed Building with Stone Façade (E Suites Building) , Metal, and
CONSTRUCTION
Wood (One Office Building)
S T O R A G E

ROOFS Metal
ENTRY Key-pad, Wrought Iron Gated Entry
Gated key-pad access, 24/7 video surveillance, motion detectors in each room
SECURITY
and onsite management.
I M P E R I A L

MANAGEMENT SOFTWARE StorEDGE

PERSONNEL Four Full-Time Employees
GATE HOURS 7:00 AM – 9:00 PM Monday – Sunday
OFFICE HOURS 8:00 AM – 6:00 PM Monday – Saturday
1 4
 6

Eldridge
Glen Laurel Park
Burger
King

Walgreens

Voss Road | 15,504 Vehicles Per Day

Kempner
High School Sugar Land
Village of

H ig h w a y
Central
Oak Lakes
White Lake

Ragus Lakes
6 | 5 3 ,3 7

Estates
St. Martins
Lutheran Church
Cullinan Park
5 Ve h ic le

Sugar Land
Regional Airport
s Pe r D ay

Constellation
Field

6 Sugar Lakes
COLD STORAGE

FREEZER STORAGE
CABIN OFFICE RENTAL SPACE
Imperial Storage Solutions
& Business E Suites

This information has been secured from sources we believe to be reliable, but we make no
representations or warranties, expressed or implied, as to the accuracy of the information.
References to square footage or age are approximate. Buyer must verify the information and bears
all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are
for example purposes only and do not represent the current or future performance of the property.
Marcus & Millichap Real Estate. Investment Services is a service mark of Marcus & Millichap Real
Estate Investment Services, Inc. © 2023 Marcus & Millichap ACT ID ZAE0040314
 Financial Analysis
IMPERIAL STORAGE SOLUTIONS &
BUSINESS E SUITES
 Unit Mix
A N A LY S I S

DIMENSIONS UNIT TOTAL TOTAL CURRENT GROSS POTENTIAL GROSS POTENTIAL

F I N A N C I A L

DESCRIPTION
(FT) SQ FT UNITS SQ FT RENT/MONTH MONTHLY RENT ANNUAL RENT

13 x 24 Cabin Office 312 1 312 $999.00 $999.00 $11,988.00

15 x 10 Cabin Office 150 12 1,800 $750.00 $9,000.00 $108,000.00
10 x 15 Climate 150 2 300 $229.95 $459.90 $5,518.80
10 x 20 Climate 200 27 5,400 $244.95 $6,613.65 $79,363.80
10 x 20 Climate 200 4 800 $259.95 $1,039.80 $12,477.60
10 x 5 Climate 50 3 150 $99.95 $299.85 $3,598.20
|

10 x 10 Climate 100 97 9,700 $154.95 $15,030.15 $180,361.80

S U I T E S

10 x 15 Climate 150 29 4,350 $214.95 $6,233.55 $74,802.60

10 x 30 Climate 300 8 2,400 $414.95 $3,319.60 $39,835.20
10 x 30 Climate 300 2 600 $429.95 $859.90 $10,318.80
10 x 40 Climate 400 2 800 $639.95 $1,279.90 $15,358.80
E

5 x 5 Climate 25 41 1,025 $39.95 $1,637.95 $19,655.40

B U S I N E S S

5 x 10 Climate 50 32 1,600 $89.95 $2,878.40 $34,540.80

8 x 20 Climate 160 1 160 $175.00 $175.00 $2,100.00
10 x 5 Climate 50 24 1,200 $84.95 $2,038.80 $24,465.60
5 x 7 Cooler 35 3 105 $332.00 $996.00 $11,952.00
7 x 10 Cooler 70 1 70 $681.00 $681.00 $8,172.00
9 x 10 Cooler 90 1 90 $828.36 $828.36 $9,940.32
&

10 x 10 Cooler 100 4 400 $920.40 $3,681.60 $44,179.20

S O LU T I O N S

10 x 30 Cooler 300 1 300 $2,832.25 $2,832.25 $33,987.00

5 x 7 Cooler 35 1 35 $309.00 $309.00 $3,708.00
5 x 5 Cooler 25 5 125 $230.00 $1,150.00 $13,800.00
6 x 4 Freezer 24 1 24 $275.00 $275.00 $3,300.00
8 x 7 Freezer 56 1 56 $740.50 $740.50 $8,886.00
11 x 7 Freezer 77 1 77 $1,124.98 $1,124.98 $13,499.76
S T O R A G E

9 x 11 Freezer 99 2 198 $1,250.00 $2,500.00 $30,000.00

1 x 1 Mail 1 1 1 $25.00 $25.00 $300.00
12 x 40 Non-Climate 480 14 6,720 $714.95 $10,009.30 $120,111.60
5 x 5 Non-Climate 25 2 50 $49.95 $99.90 $1,198.80
5 x 10 Non-Climate 50 9 450 $96.95 $872.55 $10,470.60
I M P E R I A L

7.5 x 10 Non-Climate 75 34 2,550 $117.95 $4,010.30 $48,123.60

10 x 5 Non-Climate 50 4 200 $74.95 $299.80 $3,597.60

2 6
Unit Mix

A N A LY S I S
IMPERI AL STORAGE SOLUTIONS

F I N A N C I A L
DIMENSIONS UNIT TOTAL TOTAL CURRENT GROSS POTENTIAL GROSS POTENTIAL
DESCRIPTION
(FT) SQ FT UNITS SQ FT RENT/MONTH MONTHLY RENT ANNUAL RENT

10 x 20 Non-Climate 200 41 8,200 $234.95 $9,632.95 $115,595.40

10 x 20 Non-Climate 200 1 200 $249.95 $249.95 $2,999.40
10 x 30 Non-Climate 300 16 4,800 $399.95 $6,399.20 $76,790.40
12 x 30 Non-Climate 360 10 3,600 $414.95 $4,149.50 $49,794.00

|
24 x 40 Non-Climate 960 4 3,840 $1,574.95 $6,299.80 $75,597.60

S U I T E S
2 x 2 Virtual Office 4 1 4 $64.99 $64.99 $779.88
40 x 30 Warehouse 1200 1 1,200 $2,150.00 $2,150.00 $25,800.00
TOTA L IM PERI AL STORAGE UNITS - 535 75,342 - $128,122.83 $1,537,473.96

PA R K I N G A N D O T H E R U N I T S

E
B U S I N E S S
DIMENSIONS UNIT TOTAL TOTAL CURRENT GROSS POTENTIAL GROSS POTENTIAL
DESCRIPTION
(FT) SQ FT UNITS SQ FT RENT/MONTH MONTHLY RENT ANNUAL RENT
12 x 80 Parking 960 18 - $375.00 $6,750.00 $81,000.00
12 x 80 Parking 960 6 - $400.00 $2,400.00 $28,800.00
15 x 30 Parking 450 1 - $169.00 $169.00 $2,028.00
12 x 60 Parking 720 15 - $254.95 $3,824.25 $45,891.00
12 x 30 Parking 360 20 - $194.95 $3,899.00 $46,788.00

&
12 x 30 Parking 360 48 - $189.95 $9,117.60 $109,411.20

S O LU T I O N S
12 x 25 Parking 300 1 - $173.25 $173.25 $2,079.00
12 x 20 Parking 240 1 - $146.00 $146.00 $1,752.00
12 x 10 Pa r k i ng 120 1 - $114.00 $114.00 $1,368.00
TOTA L IM PERI AL STORAGE PARKING - 111 - - $26,593.10 $319,117.20

B U S I N E S S E S U I T E S S PA C E

S T O R A G E
DIMENSIONS UNIT TOTAL TOTAL CURRENT GROSS POTENTIAL GROSS POTENTIAL
DESCRIPTION
(FT) SQ FT UNITS SQ FT RENT/MONTH MONTHLY RENT ANNUAL RENT
- x - Offices Various 38 5,976 - - -
- x - Shared Offices Various 10 - - - -
- x - Office Warehouse 600 14 8,400 - - -
12 x 10 Pa r k i n g 120 1 - $114.00 $114.00 $1,368.00

I M P E R I A L
TOTA L B U SIN ES S E S UITES S PAC E - 62 14,376 - $74,800.00 $897,600.00
TOTA L IMPERI A L S TORAG E - 646 75,342 - $154,715.93 $1,856,591.16
GRAND TOTAL - 708 89,718 - $229,515.93 $2,754,191.16

2 7
 Income & Expenses
A N A LY S I S
F I N A N C I A L

YEAR END ANNUALIZED T5 MONTHS INCOME PRO FORMA

INCOME 2022 ENDING MAY 2023 END OF YEAR 1

Gross Potential Rental Income (Storage Only) $1,856,591 $24.64SF $1,856,591 $24.64SF $1,949,421 $25.87SF
Economic Vacancy (31.3%) (581,444) $7.72SF (27.6%) (511,496) $6.79SF (15.0%) (292,413) $3.88SF
Physical Vacancy (10.9%) (25.1%) (10.0%)
Effective Gross Rental Income $1,275,147 $16.92SF $1,345,095 $17.85SF $1,657,008 $21.99SF
Late Fees and Other Income 43,005 0.57SF 41,230 0.55SF 44,725 0.59SF
|

Admin Fees 17,259 0.23SF 10,054 0.13SF 17,950 0.24SF

S U I T E S

U-Haul 96,955 1.29SF 71,891 0.95SF 100,833 1.34SF

Business E Suites Revenue 309,062 4.10SF 295,378 3.92SF 321,424 4.27SF
Tenant Insurance Commission 29,351 0.39SF 20,642 0.27SF 30,525 0.41SF
Merchandise Sales Income 35,604 0.47SF 17,797 0.24SF 37,028 0.49SF
E

Cost of Goods Sold - Merchandise (12,937) (0.17SF) (8,539) (0.11SF) (13,455) (0.18SF)
B U S I N E S S

Effective Gross Income $1,793,445 $23.80SF $1,793,548 $23.81SF $2,196,037 $29.15SF

YEAR END ADJUSTED PRO FORMA

EXPENSES 2022 EXPENSES END OF YEAR 1

Real Estate Taxes $91,690 $1.22SF $91,690 $1.22SF $250,189 $3.32SF

&

Insurance 48,679 0.65SF 48,679 0.65SF 50,140 0.67SF

S O LU T I O N S

Advertising and Marketing 28,258 0.38SF 28,258 0.38SF 29,106 0.39SF

Utilities and Trash 35,360 0.47SF 35,360 0.47SF 36,420 0.48SF
Telephone and Communications 8,495 0.11SF 8,495 0.11SF 8,750 0.12SF
On-Site Management Costs 195,775 2.60SF 150,000 1.99SF 154,500 2.05SF
Off-Site Management Fees 4.89% 87,677 1.16SF 5.00% 89,677 1.19SF 5.00% 109,802 1.46SF
S T O R A G E

Credit Card Merchant Fees 1.79% 32,022 0.43SF 1.48% 26,499 0.35SF 2.00% 43,921 0.58SF
Office and Administrative Costs 34,036 0.45SF 18,000 0.24SF 18,540 0.25SF
Repairs and Maintenance 49,115 0.65SF 26,370 0.35SF 27,161 0.36SF
Contract Services 1,598 0.02SF 7,534 0.10SF 7,760 0.10SF
Computer Software 29,850 0.40SF 6,000 0.08SF 6,180 0.08SF
I M P E R I A L

Rent of Lease of Buildings 593,938 7.88SF - 0.00SF - 0.00SF

Total Operating Expenses 68.9% $1,236,493 $16.41SF 29.9% $536,562 $7.12SF 33.8% $742,468 $9.85SF

N E T O P E R AT I N G I N C O M E $556,952 $7.39SF $1,256,986 $16.68SF $1,453,569 $19.29SF

2 8
5 Year Cashflow

A N A LY S I S
ANNUALIZED
YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5
YTD INCOME

F I N A N C I A L
Physical Occupancy (%) 74.87% 90.00% 92.00% 92.00% 92.00% 92.00%
Economic Occupancy(%) 72.45% 85.00% 85.00% 85.00% 85.00% 85.00%
Percent of Rental Growth YOY - 5.00% 5.00% 5.00% 5.00% 5.00%
Effective Gross Rental Income Growth - 23.19% 5.00% 5.00% 5.00% 5.00%
Other Income Annual Escalations (%) 4.00% 4.00% 4.00% 4.00% 4.00%
Expense Annual Escalations (%) 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%
Expenses/EGI(%) 29.92% 33.81% 33.36% 32.92% 32.48% 32.06%

|
Gross Potential Rent Rate (Total SF/Month) $2.05SF $2.16SF $2.26SF $2.38SF $2.50SF $2.62SF

S U I T E S
Realized Rent Rate (Occupied SF/Month) $1.99SF $2.04SF $2.09SF $2.20SF $2.31SF $2.42SF
Income
Gross Potential Rental Income $1,856,591 $1,949,421 $2,046,892 $2,149,236 $2,256,698 $2,369,533
Economic Vacancy (511,496) (292,413) (307,034) (322,385) (338,505) (355,430)
Effective Gross Rental Income $1,345,095 $1,657,008 $1,739,858 $1,826,851 $1,918,193 $2,014,103

E
Late Fees and Other Income 41,230 44,725 46,514 48,375 50,310 52,322

B U S I N E S S
Admin Fees 10,054 17,950 18,668 19,414 20,191 20,999
U-Haul 71,891 100,833 104,866 109,061 113,423 117,960
Business E Suites Revenue 295,378 321,424 334,281 347,652 361,558 376,021
Tenant Insurance Commission 20,642 30,525 31,746 33,016 34,336 35,710
Merchandise Sales Income 17,797 37,028 38,509 40,050 41,652 43,318
Cost of Goods Sold - Merchandise (8,539) (13,455) (13,993) (14,553) (15,135) (15,740)

&
Total Income $1,793,548 $2,196,037 $2,300,449 $2,409,865 $2,524,528 $2,644,691

S O LU T I O N S
Expenses
Real Estate Taxes $91,690 $250,189 $257,695 $265,425 $273,388 $281,590
Insurance 48,679 50,140 51,644 53,193 54,789 56,433
Advertising and Marketing 28,258 29,106 29,979 30,878 31,804 32,759
Utilities and Trash 35,360 36,420 37,513 38,638 39,798 40,992
Telephone and Communications 8,495 8,750 9,013 9,283 9,562 9,848
On-Site Management Costs 150,000 154,500 159,135 163,909 168,826 173,891

S T O R A G E
Off-Site Management Fees 89,677 109,802 115,022 120,493 126,226 132,235
Credit Card Merchant Fees 26,499 43,921 46,009 48,197 50,491 52,894
Office and Administrative Costs 18,000 18,540 19,096 19,669 20,259 20,867
Repairs and Maintenance 26,370 27,161 27,976 28,815 29,679 30,570
Contract Services 7,534 7,760 7,993 8,233 8,480 8,734

I M P E R I A L
Computer Software 6,000 6,180 6,365 6,556 6,753 6,956
Rent of Lease of Buildings - - - - - -
Total Expenses $536,562 $742,468 $767,440 $793,291 $820,055 $847,767
N E T O P E R AT I N G I N C O M E $1,256,986 $1,453,569 $1,533,009 $1,616,574 $1,704,473 $1,796,924

2 9
Imperial Storage Solutions
& Business E Suites

This information has been secured from sources we believe to be reliable, but we make no
representations or warranties, expressed or implied, as to the accuracy of the information.
References to square footage or age are approximate. Buyer must verify the information and bears
all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are
for example purposes only and do not represent the current or future performance of the property.
Marcus & Millichap Real Estate. Investment Services is a service mark of Marcus & Millichap Real
Estate Investment Services, Inc. © 2023 Marcus & Millichap ACT ID ZAE0040314
 Comparable Properties
IMPERIAL STORAGE SOLUTIONS &
BUSINESS E SUITES
Rent Comparables - Summary
3

5
2

Subject 1

N O N - C L I M AT E C O N T R O L L E D / C L I M AT E C O N T R O L L E D
DISTANCE FROM
WEIGHTED YEAR
PROPERTY NAME 10X10 10X15 10X20
AVERAGE
NRSF
BUILT
SUBJECT
PROPERTY
Subject - Imperial Storage Solutons
$170 / $155 $170 / $215 $250 / $245 $1.36 / $1.40 78,522 2000 -
15500 Voss Road, Sugar Land, TX 77498
1. My Place Self Storage Not Not Not
/ $119 / $154 / $219 NA / $1.10 91,406 2020 0.5 Miles
15025 Voss Road, Sugar Land, TX 77498 Offered Offered Offered
2. LifeStorage
$99 / $115 $118 / $127 $158 / $156 $0.85 / $0.93 70,110 2001/2006 1 Miles
11220 South Highway 6, Sugar Land, TX 77498
3. Southwest Storage
Sold Out / Sold Out $160 / Sold Out Sold Out / $250 $1.07 / $1.25 87,624 1999/2002 3.1 Miles
2555 Eldridge Road, Sugar Land, TX 77478
4. Public Storage Not Not Not Not
$174 / / $232 / $1.45 / NA 61,773 1986 3.5 Miles
888 Eldridge Road, Sugar Land, TX 77478 Offered Offered Offered Offered
5. Mini U Storage
$147 / $160 $179 / $234 $250 / $285 $1.30 / $1.53 78,013 2009 5.1 Miles
11231 FM 1464, Richmond, TX 77407

Comp Average $140 / $131 $152 / $172 $213 / $228 $0.35 / $1.20 77,785 - -

D I SC L AIMER: The rental rat e s in t h is s t udy we re de r i ve d f ro m o n l i n e so urc e s o n J u ne 1 6 , 2 0 2 3 a n d re f l e c t c u rre nt web pri ci ng. Du e to m arket f l u ctu ati on s , rates m ay have
ch anged since this stu dy was pe r for m e d. B uye r m u s t p e r f o rm h i s o r h e r o w n d ue d i l i g e n c e to e n su re th e a c c u ra c y of thi s i n f orm ati on .
 P R O P E RT I E S
Demographics HOUSING UNITS 1 MILE 3 MILES 5 MILES

2000 Owner Occupied Housing Units 81.5% 81.4% 67.3%

C O M PA R A B L E
In 2022, the population in the five-mile radius
2000 Renter Occupied Housing Units 11.8% 14.5% 28.0%
of the subject was 315,867. The population 2000 Vacant 6.7% 4.1% 4.7%

2010 Owner Occupied Housing Units 75.0% 80.7% 71.0%

has changed by 62.05 percent since 2000. It
2010 Renter Occupied Housing Units 25.0% 19.3% 29.0%
is estimated that the population here will be 342,684 five years 2010 Vacant 4.9% 4.1% 6.2%

|
from now, which represents a change of 8.49 percent from the 2022 Owner Occupied Housing Units 65.4% 74.1% 67.5%

S U I T E S
2022 Renter Occupied Housing Units 34.6% 25.9% 32.5%
current year. The population currently is 49.02 percent male
2022 Vacant 4.1% 3.4% 5.3%

and 50.98 percent female. The median age is 36.5, compare 2027 Owner Occupied Housing Units 64.8% 73.9% 67.8%

E
B U S I N E S S
2027 Renter Occupied Housing Units 35.2% 26.1% 32.2%
this to the entire US average which is 38.6. The population
2027 Vacant 3.9% 3.4% 5.2%
density here is 4,024.86 people per square mile.
HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES

$ 0 - $ 14,999 4.8% 5.2% 6.5%

&
P O P U L AT I O N 1 MILE 3 MILES 5 MILES

S O LU T I O N S
$ 15,000 - $24,999 4.6% 5.2% 6.9%
2000 Population 5,006 47,156 194,916 $ 25,000 - $34,999 5.5% 5.7% 7.1%
2010 Population 9,513 81,998 265,935 $ 35,000 - $49,999 8.5% 9.7% 11.9%

2022 Population 9,909 98,396 315,867 $ 50,000 - $74,999 17.1% 16.9% 16.8%

2027 Population 10,164 107,180 342,684 $ 75,000 - $99,999 14.1% 13.9% 12.6%

S T O R A G E
2022 Daytime Population 6,928 74,875 281,813 $100,000 - $124,999 13.8% 13.8% 11.2%

$125,000 - $149,999 9.1% 8.5% 7.1%

HOUSEHOLDS 1 MILE 3 MILES 5 MILES
$150,000 - $200,000 11.6% 10.4% 9.6%
2000 Households 1,666 14,424 61,133
$200,000 to $249,999 4.0% 4.5% 4.4%

I M P E R I A L
2010 Households 3,060 24,670 83,199
$250,000 + 6.8% 6.5% 6.0%
2022 Households 3,274 30,590 101,419
Median HH Income $91,313 $87,888 $76,387
2027 Households 3,380 33,612 110,525 Per Capita Income $41,454 $36,975 $35,627
2022 Average HH Size 3.189400 3.208900 3.078800 Average HH Income $124,654 $118,620 $110,588
3 3
Imperial Storage Solutions
& Business E Suites

This information has been secured from sources we believe to be reliable, but we make no
representations or warranties, expressed or implied, as to the accuracy of the information.
References to square footage or age are approximate. Buyer must verify the information and bears
all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are
for example purposes only and do not represent the current or future performance of the property.
Marcus & Millichap Real Estate. Investment Services is a service mark of Marcus & Millichap Real
Estate Investment Services, Inc. © 2023 Marcus & Millichap ACT ID ZAE0040314
 Market Overview
IMPERIAL STORAGE SOLUTIONS &
BUSINESS E SUITES
 W
K EE TT OO VV EE RR VV I I EE W Sugar Land Market Overview

Sugar Land, located in eastern Fort Bend County,

is approximately 20 miles southwest of downtown
Houston. It was founded as a sugar plantation in the
W
ER K

mid-1800s and incorporated in 1959. A full-service

AI R
O V E R MV A

municipality, Sugar Land, provides the highest quality

of affordable services to meet the needs of its
||

residents. Master-planned communities and welcoming

neighborhoods enhance home values and create a
A UR IKT EE TS

sense of belonging. The community offers outstanding

schools, libraries, civic organizations and other
EM S

resources that make Sugar Land a great place. VISITTEXAS.COM

B U S I N E S S
|

WIKIPEDIA.COM

Numerous high-profile regional and international

G E&

corporations have chosen Sugar Land as a corporate

A S
O N

home, including Texas Instruments, Accredo Packaging,

SB TOOARTA G& E RSVO LS UTTOI R

Inc., Applied Optoelectronics, ChampionX, Schlumberger,

Tramontina USA, Fluor Corporation, and Noble Drilling.
Sugar Land’s aggressive economic development program
has created a business-friendly environment, one that
includes a variety of incentives, including a corporate
aviation facility . Constellation Field, located in the heart of
Sugar Land and Fort Bend County, was opened in 2012 as
IC MO PA ESRTI A L

the home of the Sugar Land Skeeters, now the Sugar Land
Space Cowboys. It has played host to over 700 Atlantic
League games since opening.

3 6
SUGARLANDTX.GOV
SKYLINE.COM
Imperial Sugar Land

O V E R V I E W V
Imperial Sugar Land is a 716-acre master-planned
community located on the former site of the Imperial

M A R K E T
Sugar Company. Residents can enjoy tree-lined
boulevards, parks, jogging, and biking trails and
lakes. Imperial Sugar Land is the largest remaining

|
development opportunity in the Sugar Land area. In
addition to residential property, the master-planned

S U I T E S
community also features 1.3 million square feet of
commercial, retail, and office space.

E
B U S I N E S S
The community of Imperial is a redevelopment
IMPERIALSUGARLAND.COM
of a site formerly occupied by the Imperial Sugar
Company, the oldest continuously operating business
in the State of Texas, who processed sugar on the

&
site for more than 160 years. In fact, this strong

S O L U T I O N S
connection to the ISC is what gives the community
of Sugar Land its name. The original sugar refinery,
which had been in continuous operation since the
mid-1800s, was closed in 2003. The refinery housed a

S T O R A G E
vast historical treasure trove of artifacts, documents,
and photographs that traced the evolution of the site
from its early days as a working plantation into its
more modern era as a company town.

I M P E R I A L
3 7
QUIDDUTY.COM
IM PE R I A L STO R AGE S O L U T I O N S &
BU S I N E S S E S U T I E S
S U G A R L A N D, T E X A S
 11-2-2015
INFORMATION ABOUT BROKERAGE SERVICES
Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
.

TYPES OF REAL ESTATE LICENSE HOLDERS

• A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.
• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):
• Put the interests of the client above all others, including the broker’s own interests;
• Inform the client of any material information about the property or transaction received by the broker;
• Answer the client’s questions and present any offer to or counter-offer from the client; and
• Treat all parties to a real estate transaction honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property
management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction
known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent
must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information
disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written
agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:
• Must treat all parties to the transaction impartially and fairly;
• May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and
advice to, and carry out the instructions of each party to the transaction.
• Must not, unless specifically authorized in writing to do so by the party, disclose:
o that the owner will accept a price less than the written asking price;
o that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
o any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not
represent the buyer and must place the interests of the owner first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:
• The broker’s duties and responsibilities to you, and your obligations under the representation agreement.
• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please
acknowledge receipt of this notice below and retain a copy for your records.

Marcus & Millichap 9002994 tim.speck@marcusmillichap.com 972-755-5200

Licensed Broker /Broker Firm Name or Primary Assumed License No. Email Phone
Business Name

Tim A. Speck 432723 tim.speck@marcusmillichap.com 872-755-5200

Designated Broker of Firm License No. Email Phone

Ford Noe 709695 ford.noe@marcusmillichap.com 713-452-4200

Licensed Supervisor of Sales Agent/Associate License No. Email Phone

Information available at www.trec.texas.gov

Regulated by the Texas Real Estate Commission
IABS 1-0