An exceptional Class-A opportunity, Storage Center has seen Gross Revenue surge over $130,000 over the last seven months via street and in-place rental rate increases. While still below market rental rates, the owner-managed facility has maintained both physical and economic occupancies over this period at 91% and 93% respectively. Well-positioned in the heart of one of Tulsa’s most affluent areas, the facility features 113 climate-controlled units, 327 standard storage units and 74,620 NRSF.
With an extraordinary historical occupancy over 90% the last 25 years, Storage Center is positioned to provide an investor with the opportunity to increase future revenue streams and capture significant upside in the current 7.93 square foot per capita market. Located just steps from the Creek Turnpike, the facility has excellent visibility and access to over 16,600 vehicles per day. Combining the location with new high-end residential growth immediately to the south, the trade area has seen local population growth at 3% over the last 10 years and an average household income climb to over $130,000 per year.
Amid multiple opportunities for improvement, Storage Center is THE hard-to-find, owner-managed storage property with constant high-level performance. With its superior location and below market effective rents, Storage Center represents an exceptional opportunity to acquire a turnkey, class-A facility with a proven, consistent track-record.