Self-Storage Facility
Lifetime Climate Controlled Storage
400 W Park Ave, Iowa Park, TX 76367
Listing Price: $1,200,000
Investment Overview
Marcus & Millichap is pleased to present Lifetime Climate Controlled Storage for sale in Iowa Park,
Texas.
This offering includes 87 climate-controlled storage units, ranging from 25 square feet to 196 square feet, and a retail strip center with seven suites, varying in size from 1,500 square feet to 4,500 square feet. Notably, the retail portion of the property has enjoyed full occupancy. Currently, the self-storage component is 67 percent occupied, with the majority of vacant spaces being 5x5 units. Prospective investors have the opportunity to capitalize on additional leasing potential throughout the facility. The subject property is the only climate-controlled property in Iowa Park. The nearest climate-controlled storage facility is located in Wichita Falls, Texas approximately nine miles from the subject property. This property is competitively priced at $58.10 per square foot and boasts a current year cap rate of 6.56 percent, with a year 1 cap rate projected at 6.86 percent.
The facility is located in an established neighborhood one block from U.S. Highway 287 Business which observes an average daily traffic count of over 8,100 vehicles. Iowa Park, Texas, derives its economic strength from a diverse set of factors. One of its primary economic drivers is agriculture, with local farmers cultivating crops like wheat, cotton, and sorghum, along with livestock such as cattle. The region's agricultural activities contribute significantly to the local economy. Additionally, the
manufacturing sector plays a substantial role, particularly in aerospace and defense-related industries. Iowa Park benefits from its proximity to Wichita Falls, which hosts several manufacturing facilities, offering job opportunities and contributing to economic growth. Iowa Park's strategic location in North Texas also contributes to its economic prospects. Its proximity to Wichita Falls and easy access to highways make it a hub for transportation and logistics, facilitating the movement of goods and
services in the region.
Exclusively Listed By
Listing Price: $1,200,000
Investment Highlights
- 20,655 Net Rentable Square Feet
- 87 Climate-Controlled Units and 7 Retail Suites
- Only Climate Controlled Storage Facility in Iowa Park, Texas
Investment Overview
Marcus & Millichap is pleased to present Lifetime Climate Controlled Storage for sale in Iowa Park, Texas. This offering includes 87 climate-controlled storage units, ranging from 25 square feet to 196 square feet, and a retail strip center with seven suites, varying in size from 1,500 square feet to 4,500 square feet. Notably, the retail portion of the property has enjoyed full occupancy. Currently, the self-storage component is 67 percent occupied, with the majority of vacant spaces being 5x5 units. Prospective investors have the opportunity to capitalize on additional leasing potential throughout the facility. The subject property is the only climate-controlled property in Iowa Park. The nearest climate-controlled storage facility is located in Wichita Falls, Texas approximately nine miles from the subject property. This property is competitively priced at $58.10 per square foot and boasts a current year cap rate of 6.56 percent, with a year 1 cap rate projected at 6.86 percent. The facility is located in an established neighborhood one block from U.S. Highway 287 Business which observes an average daily traffic count of over 8,100 vehicles. Iowa Park, Texas, derives its economic strength from a diverse set of factors. One of its primary economic drivers is agriculture, with local farmers cultivating crops like wheat, cotton, and sorghum, along with livestock such as cattle. The region's agricultural activities contribute significantly to the local economy. Additionally, the manufacturing sector plays a substantial role, particularly in aerospace and defense-related industries. Iowa Park benefits from its proximity to Wichita Falls, which hosts several manufacturing facilities, offering job opportunities and contributing to economic growth. Iowa Park's strategic location in North Texas also contributes to its economic prospects. Its proximity to Wichita Falls and easy access to highways make it a hub for transportation and logistics, facilitating the movement of goods and services in the region.
Exclusively Listed By
