Tulsa Storage Units & Parking is an outstanding opportunity to acquire a stabilized and affordable self-storage facility with limited competition in the Tulsa, OK market. Well positioned as the top 53rd U.S. Metropolitan Statistical Area, the facility features 127 standard storage units at 15,637 NRSF, 70 open parking spaces at 20,600 NRSF, 5 Covered Parking spaces at 2,400 NRSF, 1 Apartments at 1,000 NRSF, 1 Residence at 1,292 NRSF, and 1 Shed at 288 NRSF. Tulsa Storage Units & Parking is a well-positioned, stabilized asset providing an investor the opportunity to acquire a 8.1% Year 3 Proforma Cap Rate property with a Cash-on-Cash Return over 8.4% from day one.
With frontage on Yale Avenue, Tulsa Storage Units & Parking has excellent visibility and access from over 8,000 vehicles per day. The stabilized facility is currently 92% physically occupied and 98% economically occupied. Additionally, with only 5.95 NRSF/Person of current storage supply in a 3-mile radius, a buyer will see Cash-on-Cash returns over 8% – 15% over the next several years.
Priced at $2.0MM with an as-is 7.0% Cap Rate, Tulsa Storage Units & Parking is the stabilized, hard-to-find self-storage facility investors are seeking. With limited competition and a strong location, the facility represents a unique opportunity to acquire an affordable in-place cash flow with consistent growth potential.