Self-Storage Facility
Springtown & Azle Storage Portfolio
1050 W Hwy 199, Springtown, TX 76082
Listing Price: $11,000,000
Investment Overview
The Springtown & Azle storage portfolio consists of two complementary self-storage assets totaling 950 units and approximately 150,980 rentable-square-feet across more than 15 acres in the expanding northwest Fort Worth corridor. Offered together at $11,000,000, the portfolio provides immediate scale in two high-growth submarkets benefiting from continued residential expansion outward from Fort Worth. Both properties are well-located along major thoroughfares — Highway 199 in Springtown and Farm-to-Market 730 North (Boyd Road) in Azle — providing strong visibility, accessibility, and daily traffic exposure.
Springtown Self Storage (628 units, 104,800 RSF) sits directly on Highway 199 with approximately 13,800 vehicles per day and offers a mix of climate and non-climate units at an attractive basis of roughly $72 per rentable-square foot. Azle Self Storage (322 units, 46,180 RSF) is positioned along FM 730 North near Lake Worth and Eagle Mountain Lake, with over 12,000 vehicles per day at its primary frontage. Both communities are experiencing steady population growth as buyers continue moving northwest from Fort Worth in search of affordability and land, supporting long-term storage demand.
Operationally, both assets present measurable upside through revenue management, reduction of concessions, and continued lease-up. Current economic vacancy and bad debt levels provide a clear path to improved net operating income under disciplined oversight. The portfolio structure allows for shared management efficiencies, marketing leverage, and expense normalization, creating a scalable platform in a supply-constrained corridor of Parker and Tarrant Counties.
Springtown & Azle Storage Portfolio
Investment Highlights
- High-Visibility, Accessible Locations – Highway 199 and FM 730 North provide strong traffic exposure and ease of access, enhancing competitive positioning versus interior or secondary sites.
- Replacement Cost – The blended basis per rentable square foot is roughly equivalent to today's development cost, offering downside protection while capturing upside through operational execution.
- Defined Cap Rate Expansion Opportunity – Stabilization through improved economic occupancy and rate optimization creates the potential for meaningful yield growth and exit cap compression.
- Strategic Northwest Fort Worth Growth Corridor – Both properties sit in the path of residential expansion from Fort Worth into Parker and northwest Tarrant Counties, supporting long-term storage demand fundamentals.
- Strong Historical & Projected Population Growth – Springtown's population has increased approximately 80%+ since 2010, while Azle has grown roughly 35%+ over the same period. Ongoing single-family growth in communities such as Gatlin Ranch (Springtown) and Stone Eagle/Azle Grove (Azle) continues to expand the surrounding customer base and reinforces long-term storage demand.
- Immediate Scale with Embedded NOI Growth – 950 units across two proximate assets allow a buyer to implement professional management, reduce concessions and bad debt, and drive occupancy toward stabilized levels, producing measurable NOI expansion.
- Platform for Operational Efficiencies – Combined ownership allows for shared staffing, marketing leverage, centralized revenue management, and vendor consolidation, driving margin improvement.
Listing Price: $11,000,000
Investment Highlights
- High-Visibility, Accessible Locations – Highway 199 and FM 730 North provide strong traffic exposure and ease of access, enhancing competitive positioning versus interior or secondary sites.
- Replacement Cost – The blended basis per rentable square foot is roughly equivalent to today's development cost, offering downside protection while capturing upside through operational execution.
- Defined Cap Rate Expansion Opportunity – Stabilization through improved economic occupancy and rate optimization creates the potential for meaningful yield growth and exit cap compression.
- Strategic Northwest Fort Worth Growth Corridor – Both properties sit in the path of residential expansion from Fort Worth into Parker and northwest Tarrant Counties, supporting long-term storage demand fundamentals.
- Strong Historical & Projected Population Growth – Springtown's population has increased approximately 80%+ since 2010, while Azle has grown roughly 35%+ over the same period. Ongoing single-family growth in communities such as Gatlin Ranch (Springtown) and Stone Eagle/Azle Grove (Azle) continues to expand the surrounding customer base and reinforces long-term storage demand.
- Immediate Scale with Embedded NOI Growth – 950 units across two proximate assets allow a buyer to implement professional management, reduce concessions and bad debt, and drive occupancy toward stabilized levels, producing measurable NOI expansion.
- Platform for Operational Efficiencies – Combined ownership allows for shared staffing, marketing leverage, centralized revenue management, and vendor consolidation, driving margin improvement.
Investment Overview
The Springtown & Azle storage portfolio consists of two complementary self-storage assets totaling 950 units and approximately 150,980 rentable-square-feet across more than 15 acres in the expanding northwest Fort Worth corridor. Offered together at $11,000,000, the portfolio provides immediate scale in two high-growth submarkets benefiting from continued residential expansion outward from Fort Worth. Both properties are well-located along major thoroughfares — Highway 199 in Springtown and Farm-to-Market 730 North (Boyd Road) in Azle — providing strong visibility, accessibility, and daily traffic exposure. Springtown Self Storage (628 units, 104,800 RSF) sits directly on Highway 199 with approximately 13,800 vehicles per day and offers a mix of climate and non-climate units at an attractive basis of roughly $72 per rentable-square foot. Azle Self Storage (322 units, 46,180 RSF) is positioned along FM 730 North near Lake Worth and Eagle Mountain Lake, with over 12,000 vehicles per day at its primary frontage. Both communities are experiencing steady population growth as buyers continue moving northwest from Fort Worth in search of affordability and land, supporting long-term storage demand. Operationally, both assets present measurable upside through revenue management, reduction of concessions, and continued lease-up. Current economic vacancy and bad debt levels provide a clear path to improved net operating income under disciplined oversight. The portfolio structure allows for shared management efficiencies, marketing leverage, and expense normalization, creating a scalable platform in a supply-constrained corridor of Parker and Tarrant Counties.
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
