Southland Mini Storage
Investment Opportunity

Infill location with high barriers to entry
Strong demographics with significant multi-family density within one mile
Value-add opportunity through occupancy increases and revenue management
Well-constructed facility with low maintenance

Southland Storage is a 17,585 rentable square foot value-add property consisting of traditional non-climate controlled storage sited on approximately 1 acre in Tulsa, OK, a top 55 MSA. The asset has an on-site manager apartment, office, perimeter security fence, security cameras and significant, powered pole sign which can be seen in all directions. The storage property was built in 1975 and periodically refreshed over the years, with the latest update occurring in 2017. The 2017 update consisted of new exterior paint, refacing the office and a total rehab of the office and manager apartment. The property contains concrete drives and has further signage on Braden Avenue, less than a block from 51st Street and LaFortune Park.

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

Infill location with high barriers to entry

Effective tenant insurance sales strategy (they don’t sell any tenant insurance).
Implementation of cutting edge marketing techniques to boost occupancy.
Value-add revenue management.

Considering the price per SF below replacement cost, attractive in-place yield with realistic room for improvement and barriers to entry based on market rental rates and construction costs, this is a compelling value-add opportunity.

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