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711 N Meadow Ave
Odessa, TX 79761
Maxi and Mini Storages · Specialty Property For Sale
·
18,745 SF
Investment Highlights
- Value-add opportunity for rental increase and property improvements
- Management upside for occupancy increase beyond current 45% level
- Priced below replacement cost
- Ability to improve property performance by instituting management software and other technology and management enhancements
Executive Summary
The Maxi and Mini Storages of Odessa is a self storage property located at 700 and 711 N. Meadow Ave. in Odessa, TX. The property consists of 2 locations and 5 buildings located across the street from each other. One building is located at 711 N. Meadow and the remaining 4 buildings at 700 N. Meadow Ave for a total 18,745 rentable square feet.
The property is comprised of a total 130 non-climate controlled units ranging in size from 6x10 to 14x34. Originally built in the mid 1970s, the property is made of cinder block construction and asphalt drives. There are gates at the entrances to the property and it is fully fenced.
There is an office and small apartment on-site which is currently occupied by a maintenance individual rent free. The property is managed by the out of town owners with an on-site manager for 22 hours per week. The property does not currently have a web presence or management software in place.
**Manager does not know the property is for sale - all tours must be scheduled through listing brokers only
The property is comprised of a total 130 non-climate controlled units ranging in size from 6x10 to 14x34. Originally built in the mid 1970s, the property is made of cinder block construction and asphalt drives. There are gates at the entrances to the property and it is fully fenced.
There is an office and small apartment on-site which is currently occupied by a maintenance individual rent free. The property is managed by the out of town owners with an on-site manager for 22 hours per week. The property does not currently have a web presence or management software in place.
**Manager does not know the property is for sale - all tours must be scheduled through listing brokers only
Property Facts Under Contract
| Sale Type | Investment | Lot Size | 0.44 AC |
| Property Type | Specialty | Building Size | 18,745 SF |
| Property Subtype | Self-Storage | No. Stories | 1 |
| Building Class | C | Year Built/Renovated | 1974/1976 |
| Zoning | EE3 - Commercial | ||
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 18,745 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1974/1976 |
| Zoning | EE3 - Commercial |
Property Taxes
| Parcel Number | 08900-00070-00000 | Improvements Assessment | $129,972 |
| Land Assessment | $43,650 | Total Assessment | $173,622 |
Property Taxes
Parcel Number
08900-00070-00000
Land Assessment
$43,650
Improvements Assessment
$129,972
Total Assessment
$173,622
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