400-402 W Park Ave Iowa Park, TX 76367
Cash-flowing self-storage and retail center in Iowa Park, Texas.
Property size:
20,640 SFLot size:
1.16 AcresProperty Features for 400-402 W Park Ave
General Information
- Size
- 20,640 SF
- Lot size
- 1.16 Acres
Source:
Moodyscre
Listing 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
Location Insight
- Map
- Local Demand
- City
- Iowa Park
- County
- Wichita
- State
- Texas
- Longitude
- -98.671656
- Latitude
- 33.952525
Nearby Similar for Sale
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.