400-402 W Park Ave Iowa Park, TX 76367

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.