Always Storage

Always Storage2020-07-28T15:55:54-04:00

Project Description

The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale Always Storage in the Oklahoma City Metroplex.

Call for Info – 134,295 NRSF

3819 S Division Street, Guthrie, OK 73044
The Northern Oklahoma City Metroplex

Always Storage consists of 134,295 rentable square feet under roof, in addition to 17,700 rentable square feet of parking space on approximately 12.63 acres of land. The facility offers a large variety of well-maintained options, including 108 climate-controlled units, 585 non-climate-controlled units, 14 fully-enclosed boat/RV parking spaces, 50 covered RV and boat parking spaces and 44 standard rental parking spaces for a total of 801 units. The facility has a solid physical and economic occupancy of 85 percent with ample room for growth. Additionally, the subject offers a newly remodeled office space. Moreover, there is a prime opportunity to expand upon 2.78 acres at the facility’s annex location, which is ideal for highly coveted boat/RV storage spaces. To ensure a secure premise, the facility offers coded entry, video surveillence and electronic gating, in addition to 24-hour kiosk service for consumer convenience.

The subject property is situated in Guthrie, Oklahoma, which is a key suburban component of the Oklahoma City Metroplex. The facility offers direct frontage along South Division Street and offers convenient access to Interstate 35, which witnesses a traffic count exceeding 42,000 vehicles per day. Additionally, Always Storage serves as the primary storage provider for the Northern Oklahoma City MSA; there is only one competitor within a mile of the subject property and only three total storage providers within five miles, demonstrating the need for self-storage within the area. Guthrie is just 15 miles north of Edmond, Oklahoma, which is one of the most affluent regions in the state. Edmond has seen the population climb by 15 percent since 2010. Furthermore, Guthrie is approximately 30 minutes from the center of downtown Oklahoma City.

The opportunity allows an investor with the ability to acquire a stabilized asset with multiple upsides. An investor can increase advertising and implement professional management to further raise occupancies, which are already well-established. Additionally, there will be an opportunity to capitalize by raising rates, as several drive-up unit prices are currently below the comparable average. The property has excellent projected financials with cash-on-cash returns of 10.4 percent and 12.0 percent in years one and two, in addition to leveraged IRRs of 20.8 percent and 20.6 percent in years five and seven. There is further upside through implementing a robust tenant insurance and truck rental program. Always Storage is a well maintained storage asset and has found consistent success with limited competition in the immediate trade area, making for an excellent investment for years to come.

Investment Highlights:

  • Established Storage Asset with Limited Competition in the Northern Oklahoma City Metroplex
  • Just North of Edmond, Oklahoma; One of the State Most Affluent Divisions with a Growth Rate of 15 Percent Since 2010
  • Prime Opportunity to Raise Rates to Meet the Comparable Average
  • Only One Competitor within a Mile of the Subject Property and Only Three Storage Providers within Five Miles
  • Cash-on-Cash Returns of 10.4 Percent and 12.0 Percent in Years One and Two
  • Leveraged IRR of 20.8 Percent in Year Five
  • 2.78 Acres of Expansion Potential at the Facility’s Annex Location
  • Close Proximity to Interstate 35 with Over 42,000 Vehicles Per Day
  • 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 Always 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.