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400-402 W Park Ave Iowa Park, TX 76367

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For Sale
$1,450,000

Cash-flowing self-storage and retail center in Iowa Park, Texas.

Property size:
20,640 SF
Lot size:
1.16 Acres

Property Features for 400-402 W Park Ave

General Information

Size
20,640 SF
Lot size
1.16 Acres

Source: Franklin Street | Charlotte Agent Josh Snead

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Self Storage and Retail Center

This property features a cash-flowing self-storage facility and retail strip center. The self-storage component includes 86 climate-controlled units, totaling 6,240 net rentable square feet. Additionally, the property features a 14,400-square-foot retail strip center with 7 suites. The retail strip center is fully occupied, with most tenants having lease terms of at least two years remaining and annual rent escalations outlined in the leases. Retail rents are below market rates, presenting an opportunity for increased revenue. The facility benefits from being the only climate-controlled storage option within a five-mile radius, allowing for steady rent increases upon stabilization. There is an opportunity to increase revenue through maximizing fee and tenant insurance income. The facility is an excellent candidate for remote management, with keypad entry to the building and management software already in place. The property is located in Iowa Park, Texas, approximately 10 miles west of Wichita Falls, and is home to 6,529 residents. The Wichita Falls MSA is located approximately 100 miles northwest of Fort Worth and is home to 149,947 residents. The average household income within five miles of the property is $83,901.
Location Intelligence

Current Use by Public Records

Self storage facilities

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Iowa Park
County
Wichita
State
Texas
Longitude
-98.671656
Latitude
33.952525

FAQs

What type of property is this?
Self storage facility - Cash-flowing self-storage and retail center in Iowa Park, Texas.
Where is this self storage facility located?
The property is located at 400-402 W Park Ave Iowa Park, TX.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: - Cash-flowing self-storage and retail strip center property.; - Fully occupied retail strip center with rent escalations.; - Significant upside potential in retail rents due to below-market rates.
More about this property
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