1663 Moore Ave, Portland, TX 78374

Lone Star Self Storage is a self-storage facility in Portland, TX, with strong market fundamentals and significant lease-up potential. Located at 1663 Moore Avenue, Portland, TX, the facility encompasses 64,300 square feet of rentable space (NRSF), with a total of 559 self-storage units. Originally built in 1970 with major new unit deliveries completed in 2025, the facility is currently operating at 41% physical area occupancy and 36% physical unit occupancy, presenting substantial upside through continued lease-up.

The surrounding Portland submarket is driven by massive industrial investments that fuel population growth and robust self-storage demand. The area benefits from the $22 billion Gulf Coast Growth Ventures petrochemical project, which supports 600 permanent jobs with an average annual salary of $90,000. Additionally, the Port of Corpus Christi's major dredging and expansion project at the La Quinta Ship Channel has increased international trade capacity and local employment. These permanent economic drivers ensure sustained residential growth and consistent demand for storage units in the immediate trade area.

The market conditions in Portland are characterized by constrained future supply, with zero prospective, planned, or under-construction self-storage developments in the area. This lack of incoming competition perfectly positions Lone Star Self Storage to capture expanding demand. Current in-place rents are well below comparable market rates, creating a significant 34% mark-to-market rental growth opportunity upon stabilization. With 81% of its rentable area dedicated to climate-controlled units, the facility offers a much newer, premium physical product compared to older competing facilities in the submarket.

This facility represents an exceptional opportunity to acquire a recently expanded, high-quality storage asset with limited near-term capital needs, while capitalizing on Portland's rapidly growing regional demand to achieve a projected 9.24% stabilized cap rate.