- 49,588 NRSF Plus Close to Three Acres of Expansion Land Included
- Three Mile Population – 57,400
- 93 Percent Physical Occupancy Despite Minimal Advertising
- Gated Entry with Digital Keypad, Concrete Driveways, Full Service Office
- Rental Rates Approximately 10 Percent Below Market
- Less Than Two Miles from Downtown
- Private Out-of-Town Operator
American Self Storage is a 49,588 net rentable square foot self storage facility located in Harlingen, Texas which is a centrally located hub in the Rio Grande Valley. The property sits on 6.49 acres of land and has six single story buildings and was constructed in 2004.
The property has many different amenities including, but not limited to a gated entry with a digital keypad, full service on-site management office with a residence, video surveillance, and concrete driveways.
American Self Storage is owned and operated by an out of area owner. As of April 1, 2019 the property is approximately 93 percent physically occupied despite the fact that very little is spent on advertising. The facility is achieving approximately 90 percent of the rental rates of what comparable properties with more sophisticated management in the market are getting. Further upside could be attained through expanding the property, as there are roughly just under three acres of unimproved land included in the opportunity.
American Self Storage sits in a populated area of the Valley with over 55,000 people living within a three-mile radius of the property.
There are solid economic drivers that lend stability to American Self Storage. The facility sits less than one mile from the highly rated Valley Baptist Medical Center, which is the only Trauma II facility in the Rio Grande Valley and the only Certified Comprehensive Stroke Center south of San Antonio. About a mile and a half to the east of American Self Storage is downtown Harlingen and within three miles of the facility sits Valley International Airport which is the largest airport in the Rio Grande Valley. The Rio Grande Valley Sector of U.S. Customs and Border Protection is of one of nine border patrol sectors along the United States southwest border. The Valley’s Sector has a station in Harlingen that operates 24/7. Rio Grande Valley unemployment is nearing an 18-year low, with hourly wages rising approximately 2.5 percent from the previous calendar year. National retailers such as Target, Walmart, Best Buy, Home Depot, Lowe’s, and Kohls have enjoyed their highest income in years. In addition to the 1.5 million residents that call the Rio Grande Valley home, the economy is also strengthened by the over 1 million people that live just across the border in Northern Tamaulipas, Mexico. Additionally, the area is bolstered by tourism as South Padre Island which is one of the most popular destinations in Texas brings in over $300 million in direct visitor spending annually.