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1655 Moore Ave - Hayek Industrial Park 64,300 SF Specialty Building Offered For Sale in Portland, TX 78374
Investment Highlights
- Consistent Leasing Velocity Demonstrates Strong Self-Storage Demand Within the Immediate Trade Area
- Majority of Units Recently Delivered in 2025, Creating a High-Quality Asset With Limited Near-Term Capital Needs
- Significant Mark-to-Market Opportunity With In-Place Rents Currently Well Market Rates, Supporting Approximately 34% Rental Growth.
- No New Self-Storage Developments Planned Within the Market, Supporting Future Rental Rate Growth and Occupancy Stability
- Efficient Unit Mix With Average Unit Sizes Just Over 10’x10’ Supporting Higher Revenue Per Square Foot
- More Than 700 New Single-Family Homes Currently Under Development within 1 mile, Expanding the Property’s Future Customer Bas
Executive Summary
Lone Star Self Storage, located at 1663 Moore Avenue in Portland, TX, is a 64,300-square-foot self-storage facility comprising 559 units with strong market fundamentals and significant lease-up potential; originally built in 1970 and substantially expanded with major new unit deliveries completed in 2025, the property is currently operating at 41% physical area occupancy and 36% physical unit occupancy, presenting meaningful upside through continued lease-up.
The surrounding Portland submarket is supported by major industrial investment, including the $22 billion Gulf Coast Growth Ventures petrochemical project, which supports 600 permanent jobs with an average annual salary of $90,000, as well as the Port of Corpus Christi’s dredging and expansion work at the La Quinta Ship Channel, which has increased international trade capacity and local employment, together driving sustained residential growth and robust demand for self-storage in the immediate trade area. Market conditions are especially favorable given the absence of any prospective, planned, or under-construction self-storage developments in the area, positioning Lone Star Self Storage to capture expanding demand, while below-market in-place rents create a significant 34% mark-to-market rental growth opportunity upon stabilization.
With 81% of its rentable area dedicated to climate-controlled units and a newer, higher-quality product than older competing facilities in the submarket, the asset offers limited near-term capital needs and an exceptional opportunity to capitalize on Portland’s growing regional demand and achieve a projected 9.24% stabilized cap rate.
The surrounding Portland submarket is supported by major industrial investment, including the $22 billion Gulf Coast Growth Ventures petrochemical project, which supports 600 permanent jobs with an average annual salary of $90,000, as well as the Port of Corpus Christi’s dredging and expansion work at the La Quinta Ship Channel, which has increased international trade capacity and local employment, together driving sustained residential growth and robust demand for self-storage in the immediate trade area. Market conditions are especially favorable given the absence of any prospective, planned, or under-construction self-storage developments in the area, positioning Lone Star Self Storage to capture expanding demand, while below-market in-place rents create a significant 34% mark-to-market rental growth opportunity upon stabilization.
With 81% of its rentable area dedicated to climate-controlled units and a newer, higher-quality product than older competing facilities in the submarket, the asset offers limited near-term capital needs and an exceptional opportunity to capitalize on Portland’s growing regional demand and achieve a projected 9.24% stabilized cap rate.
Property Facts
| Sale Type | Investment | Building Size | 64,300 SF |
| Property Type | Specialty | No. Stories | 1 |
| Property Subtype | Self-Storage | Year Built/Renovated | 1970/2025 |
| Building Class | C | Parking Ratio | 0.95/1,000 SF |
| Lot Size | 4.00 AC | ||
| Zoning | GC - General Commercial/ Self-Storage | ||
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 4.00 AC |
| Building Size | 64,300 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1970/2025 |
| Parking Ratio | 0.95/1,000 SF |
| Zoning | GC - General Commercial/ Self-Storage |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 69549 | Improvements Assessment | $1,080,361 |
| Land Assessment | $181,775 | Total Assessment | $1,262,136 |
Property Taxes
Parcel Number
69549
Land Assessment
$181,775
Improvements Assessment
$1,080,361
Total Assessment
$1,262,136
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1655 Moore Ave - Hayek Industrial Park
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