Quik Stor Storage & Car Wash
Investment Opportunity

INVESTMENT HIGHLIGHTS

Institutional-quality asset, located in a top 40 MSA
Significant upside remaining through tenant insurance sales and revenue management
Stabilized property with opportunity to revenue manage toward higher profitability (last rate increase was 5 years ago)
Infill location with great visibility and strong traffic counts

GENERAL DESCRIPTION

The QuikStor offering is a 73,401 rentable square foot (including 17,000 SF parking) value-add institutional quality asset located in Oklahoma City, OK MSA, a top 40 market. The property is sited within ½ a mile of Tinker Air Force base, which employs 24,000 + people, one of the largest employers in Oklahoma City and is surrounded with significant single family residential housing. It is easily accessible within 1 ½ miles from I-40 and 2 miles from I-240. The asset is serviced by an on-site manager with 2,300 sf + home/office. The facility is equipped with control system access and security cameras along with significantly frontage on a major arterial street with 15,000 vehicles per day traveling by. The parcel measures 5 acres.

The opportunity provides further upside through a combination of realistic, achievable strategies:

Effective tenant insurance sales strategy (sold less than $0 total in 2020 across the almost 600 unit asset)
Conversion of the car wash to higher and best use for storage (Seller is willing to do the conversion and remove the car wash equipment)
Raising rental rates and revenue management (last rate increase was in 2013)

Considering the immediate scale, attractive in-place yield with realistic room for improvement, high barriers to entry based on zoning, density, market rental rates and soaring construction costs, this is a compelling value-add asset in a major metro market.

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