Acquisition of the Edmond, Oklahoma Self Storage Opportunity offers an investor the chance to purchase a newly-constructed self-storage facility in one of Oklahoma City’s most affluent suburbs, Edmond. Well-positioned in a top 50 U.S. Metropolitan Statistical Area, the facility features both climate-controlled and non-climate-controlled storage. Furthermore, the facility added a 28,000-square foot building in 2018 to meet the region’s high-demand for self-storage. Upon acquisition, an investor can increase profits by raising rental rates to meet the comparable average. The property offers impeccable visibility from Interstate 35, which serves as a major thoroughfare within the region. The offering demonstrates solid projected cash-on-cash returns of 10.2 percent and 10.8 percent in years two and three, in addition to leveraged IRRs of 18.0 percent and 17.6 percent in years five and seven.
Initially constructed in 2014, the 134,318-rentable square foot facility is comprised of 618 climate-controlled, drive-up non-climate-controlled and boat/RV parking spaces. The current physical and economic occupancies reside at 88.2 percent and 88.3 percent, respectively. The facility is equipped with a fully-fenced perimeter, gated access, a state-of-the-art video surveillance system and individual unit alarms. The subject’s spacious office area consists of two manager’s offices, a showroom and a conference area.
Strategically located along Interstate 35, the property witnesses traffic counts of over 76,000 vehicles daily. The subject is surrounded by an excellent mixture of single-family residential communities and multiple developments that have come underway in the past two years to meet Edmond’s explosive growth. The most significant point of interest is the Edmond Conference Center, which was recently completed in November 2017. Backed by the City of Edmond and paired with the 158-guest Hilton Garden Inn, this large-scale center provides over 20,000 square feet of meeting space while offering extensive retail, restaurant, sport and entertainment opportunities to all of Edmond and Oklahoma City.
Situated just north of Oklahoma City, Edmond has been featured as a top location in CNBC’s “10 Perfect Suburbs” and has repeatedly been awarded as an “Outstanding Community” by the State Chamber of Commerce. Surrounded by the picturesque Arcadia Lake serving as a major community recreation center, the suburb has also enjoyed excellent coverage nationwide, appearing in Newsmax magazine’s list of the “Top 25 Most Uniquely American Cities and Towns.”
- Solid Opportunity to Acquire an Asset with Significant Upside in Edmond, Oklahoma; Oklahoma City’s Most Affluent Suburb and a Rapidly-Growing Component of the OKC Metropolitan Statistical Area
- Growth Potential by Bringing Current Tenants Up to Market Rates; the Property Added 28,000 Square Feet of Storage Space in 2018
- Raise Returns by Increasing Rental Rates to the Comparable Averages
- Solid Current Physical and Economic Occupancies of 88.2 Percent and 88.3 Percent, Respectively
- Cash-on-Cash Returns of 10.2 Percent and 10.8 Percent in Years Two and Three, in Addition to Leveraged IRRs of 18.0 Percent and 17.6 Percent in Years Five and Seven
- The Property Offers a Wide Array of Well-Maintained Units, State-of-the-Art Video Surveillance, Individual Unit Alarms, a Showroom, Two Manager’s Offices and a Conference Area
- Affluent Average Household Incomes Exceeding the National Average: $136,295 Within a One-Mile Radius and $96,109 Within a Five-Mile Radius
- Direct Access to and from Interstate 35, Which Sustains a Traffic Count of Over 76,000 Vehicles Per Day