Keepsake Self Storage

Keepsake Self Storage2020-10-20T16:49:22-04:00

Project Description

Keepsake Self Storage is closed.

Under LOI – 36,725 NRSF

2101 S Sunnylane Rd, Moore, OK 73160
The Oklahoma City Metropolitan Area

Keepsake Self Storage is comprised of 36,725 rentable square feet on approximately 2.92 acres of land. The facility currently offers 164 non-climate-controlled units, 43 climate-controlled units, 35 rental parking spaces and 13 boat/RV storage spaces for a total of 255 total units. The facility is stabilized with physical and economic occupancies of 90 percent and 75 percent, demonstrating a significant market footprint with considerable upside through rate management on existing customers. Keepsake Self Storage advantageously offers the opportunity to expand on a spacious 9.56 acres adjacent to the site, providing exceptional versatility with the ability to add climate-controlled and boat/RV units, which are in high demand in the OKC MSA, in addition to more standard units. To ensure a secure premise, the facility is equipped with video surveillance, perimeter-wide fencing, keypad entry, alarmed units and gated access.

The subject property is situated within an affluent suburb of the Oklahoma City Metro Area; there is an average household income of over $85,000 within three miles of the site. The facility offers premium visibility and frontage from South Sunnylane Road, which sees traffic counts of over 18,000 vehicles daily. The subject is approximately five miles from Interstate 35, which has a heavy traffic count exceeding 147,000 vehicles daily. This region of the Oklahoma City MSA has experienced ample growth over the past several years; there is a projected annual growth rate of 1.6 percent annually from 2020 to 2025, surpassing the national average. Keepsake Self Storage benefits as one of the primary storage providers for the surrounding area, as indicated by the facility’s high occupancies. There is only one competitor within a mile of the site. Oklahoma City is one of the largest metro areas in the United States and is home to one of the world’s largest livestock markets. The MSA offers one of the most affordable housing markets in the United States; it is ranked number one for the most affordable housing market of the 50 largest metropolitan areas in America by

Keepsake Self Storage allows an investor the ability to acquire a stabilized self-storage asset with multiple upsides, including excellent financial projections over the next several years. The subject boasts strong leveraged IRRs of 24.4 percent and 23.6 percent in years five and seven, in addition to cash-on-cash returns of 13.7 percent and 14.9 percent in years two and three. The facility offers a rare opportunity to capitalize on the high demand for storage within the MSA; the adjoining land at the site offers a sizeable 9.56 acres of expansion potential to further solidify the facility’s presence. Additionally, an investor can increase revenue by implementing merchandise sales, truck rentals and bolstering the current tenant insurance program. Keepsake Self Storage represents a prime opportunity to acquire a premium storage asset with an exceptional market footprint in one the country’s most resilient metropolitan areas.

Investment Highlights:

  • Stabilized Asset with Multiple Upsides in the Densely-Populated Oklahoma City MSA
  • Direct Frontage Along Sunnylane Road, with Traffic Counts Exceeding 18,000 Vehicles Daily
  • 90 Percent Physical Occupancy Demonstrating a Superior Market Footprint
  • Spacious 9.56 Acres of Expansion Potential Adjoining the Property
  • High Demand for Climate-Controlled and Boat/RV Units in Oklahoma City
  • Leveraged IRR of 24.4 Percent in Year Five
  • Cash-on-Cash Returns of 13.7 Percent and 14.9 Percent in Years Two and Three
  • Capitalize by Implementing Professional Management and Boosting Ancillary Income
  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as Keepsake Self Storage.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.