609 N Weatherford St
Midland, TX 79701
Thrifty Storage · Specialty Property For Sale · 22,700 SF

Thrifty Storage is a Class B Self Storage facility consisting of 108 non-climate self storage units consisting of 22,700 NRSF. The property has a total of three (3) locations all within walking distance of one another. The first location was built in 1996 with an addition in 2004, the second location was built in 1997 with an addition in 2000, and the last location at 401 N. Ft. Worth Street built in 2005. The first and main location is location at 609 N. Weatherford Street and has a 54’ x 40’ building with a small office that houses the computer and rental cameras. This building could potentially be converted into climate or dust-controlled units. Thrifty Storage has strong high historical occupancy, which as of 3.31.20 was at 98%. This opportunity presents an investor with tremendous upside potential through implementation of internet marketing and advertising, implementation of ancillary income measures, and raising rental rates to market standard. According to SpareFoot.com, the average unit rate in Midland, TX for a 10 x 20 was $120 as of April 6, 2020. All rental rates at Thrifty Storage were increased by $5.00 on January 1, 2020 and there was no decline in occupancy.