<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001907472</cik>
        <entityName>NexPoint Storage III DST</entityName>
        <issuerAddress>
            <street1>300 CRESCENT COURT</street1>
            <street2>SUITE 700</street2>
            <city>DALLAS</city>
            <stateOrCountry>TX</stateOrCountry>
            <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
            <zipCode>75201</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(833) 697-6246</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Delaware Statutory Trust</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2021</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>NexPoint Real Estate Advisors IV, L.P.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300 Crescent Court</street1>
                <street2>Suite 700</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Sponsor of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Matthew</firstName>
                <lastName>Goetz</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300 Crescent Court</street1>
                <street2>Suite 700</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Authorized Signatory of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Matt</firstName>
                <lastName>McGraner</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300 Crescent Court</street1>
                <street2>Suite 700</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Authorized Signatory of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>NSP III Parent Manager, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300 Crescent Court</street1>
                <street2>Suite 700</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager and Signatory Trustee of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>NexPoint Storage DST TRS, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300 Crescent Court</street1>
                <street2>Suite 700</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Contributor of the Issuer</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Other Real Estate</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001907472-22-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2022-01-18</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Thornhill Securities, Inc.</recipientName>
                <recipientCRDNumber>22333</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>400 W. 15th Street</street1>
                    <street2>Suite 700</street2>
                    <city>Austin</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>78701</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>MT</state>
                    <description>MONTANA</description>
                    <state>WA</state>
                    <description>WASHINGTON</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Whitehall-Parker Securities, Inc.</recipientName>
                <recipientCRDNumber>10608</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>117 Paul Drive</street1>
                    <street2>Suite B</street2>
                    <city>San Rafael</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>94903</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Emerson Equity LLC</recipientName>
                <recipientCRDNumber>130032</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>155 Bovet Road</street1>
                    <street2>Suite 725</street2>
                    <city>San Mateo</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>94402</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>OR</state>
                    <description>OREGON</description>
                    <state>UT</state>
                    <description>UTAH</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Great Point Capital LLC</recipientName>
                <recipientCRDNumber>114203</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>200 West Jackson Boulevard</street1>
                    <street2>Suite 1000</street2>
                    <city>Chicago</city>
                    <stateOrCountry>IL</stateOrCountry>
                    <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                    <zipCode>60606</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CO</state>
                    <description>COLORADO</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>McDermott Investment Services, LLC</recipientName>
                <recipientCRDNumber>154926</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>44 East Broad Street</street1>
                    <street2>2nd Floor</street2>
                    <city>Bethlehem</city>
                    <stateOrCountry>PA</stateOrCountry>
                    <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                    <zipCode>18018</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AZ</state>
                    <description>ARIZONA</description>
                    <state>NE</state>
                    <description>NEBRASKA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Concorde Investment Services, LLC</recipientName>
                <recipientCRDNumber>151604</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>19500 Victor Parkway</street1>
                    <street2>Suite 550</street2>
                    <city>Livonia</city>
                    <stateOrCountry>MI</stateOrCountry>
                    <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                    <zipCode>48152</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>MA</state>
                    <description>MASSACHUSETTS</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NM</state>
                    <description>NEW MEXICO</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>NC</state>
                    <description>NORTH CAROLINA</description>
                    <state>OH</state>
                    <description>OHIO</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Lightpath Capital, Inc.</recipientName>
                <recipientCRDNumber>34617</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1560 E. Southlake Boulevard</street1>
                    <street2>Suite 100</street2>
                    <city>Southlake</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>76092</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Westpark Capital, Inc.</recipientName>
                <recipientCRDNumber>39914</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1900 Avenue of the Stars</street1>
                    <street2>Suite 310</street2>
                    <city>Los Angeles</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                    <zipCode>90067</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Aurora Securities</recipientName>
                <recipientCRDNumber>46147</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2565 West Maple</street1>
                    <city>Troy</city>
                    <stateOrCountry>MI</stateOrCountry>
                    <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                    <zipCode>48084</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>WA</state>
                    <description>WASHINGTON</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Stonecrest Capital Markets, Inc.</recipientName>
                <recipientCRDNumber>39616</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>300 W. 6th Street</street1>
                    <street2>Suite 1520</street2>
                    <city>Austin</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>78701</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>OK</state>
                    <description>OKLAHOMA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Patrick Capital Markets, LLC</recipientName>
                <recipientCRDNumber>16518</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>11152 South Towne Square</street1>
                    <city>St. Louis</city>
                    <stateOrCountry>MO</stateOrCountry>
                    <stateOrCountryDescription>MISSOURI</stateOrCountryDescription>
                    <zipCode>63123</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>95155013</totalOfferingAmount>
            <totalAmountSold>18417662</totalAmountSold>
            <totalRemaining>76737351</totalRemaining>
            <clarificationOfResponse>Regarding Item 11, the Issuer may accept smaller investments in the Sponsor's sole discretion.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>50</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>8230909</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse>Sales Commissions include estimates of the maximum amount of Selling Commissions and Dealer Fees that may be paid.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>3090930</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Item 16 is an estimate of offering expenses and acquisition fees that may accrue to one or more Related Persons.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>NexPoint Storage III DST</issuerName>
                <signatureName>/s/ Matt Goetz</signatureName>
                <nameOfSigner>Matt Goetz</nameOfSigner>
                <signatureTitle>Authorized Signatory of the Issuer</signatureTitle>
                <signatureDate>2022-02-08</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
