Von Ormy, TX - (San Antonio MSA)
$1,750,000
The Somerset Development site is a 6.7-acre parcel of land near the intersection of Somerset and Fischer Rd. in Southwest San Antonio, TX. The property is currently Zoned “C2” which allows for self storage development. The current owners have begun the planning process to develop 75,540 gross square feet and 63,325 rentable square feet of climate and non-climate storage.
Currently, there is little supply in this immediate area to accommodate the rapid growth of single family and multi-family housing that has occurred. Rental rate projections for this site based on other like-kind properties in the Greater San Antonio market are a blended $1.47 per square foot.
This is a great opportunity for a developer to set the market in the area and capture the demand created as the area continues to develop.
(The property is located in the City of San Antonio, however, the postal zip code is for the town of Von Ormy.)
