Current Use by Public Records
- Warehouses
Property Details for 215 5 Ave
- Year built
- 1983
- Lot size
- 0.49 lot acres
- Property type
- Warehouses
- Property subtype
- Self storage facilities
Description
This exceptional investment opportunity presents a 56-unit self-storage facility in Portland, Texas, boasting a remarkable 8.00% cap rate and a strong $30,000 annual NOI. Located at 215 5th Ave, this property offers convenient access to Highway 181, ensuring high visibility and accessibility for tenants. The facility comprises three single-story buildings, totaling 56 units, including 17 (10x20), 24 (10x10), 4 (8x18) units, and 10 outdoor 10x20 parking spaces, plus one 5x10 storage trailer. Built in 1983 and renovated in 2017, the buildings are well-maintained and secured with chain-link fencing and a security gate. Sitting on a 0.49-acre lot, the property is zoned for multi-use, offering potential for future expansion or diversification. Currently operating at 100% occupancy, this is a low-maintenance, high-return investment ideal for owner-users seeking a stable income stream. The asking price is $375,000, representing a compelling opportunity in the thriving Texas market. This turnkey operation requires minimal management, making it an attractive proposition for both seasoned and novice investors. The property's strong performance and strategic location make it a truly exceptional investment opportunity.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- San Patricio
- State
- Texas
- Longitude
- -97.3212
- Latitude
- 27.8745
