Storage Near Me - Kenosha

Self Storage Investment Opportunity

INVESTMENT HIGHLIGHTS

Institutional quality asset located in Tulsa, OK, a top 55 MSA
Well-positioned infill location with high barriers to entry
Significant upside remaining through aggressive tenant insurance strategy, expansion and lease up
High-quality construction
Attractive scale for current or new market entrants

GENERAL DESCRIPTION

Kenosha is a self-storage conversion lease-up project which opened in July 2020. There are 328 units within 48,771 rentable square feet and an onsite property office. It possesses prominent frontage with reader board signage and is located on Kenosha Street with 24,500+ vehicles per day travelling past the site. The property is sited on 4.62 acres in a densely developed area of Broken Arrow, less than a mile from the revitalized Rose District, with strong demographics ($90,000 Average HH Income) and population (72,000) within the three-mile trade area.

The property has undertaken extensive renovations over the past couple of years including but not limited to:

TPO roof overlay with 20-year transferable warranty
Exterior glass window walls
New facility office

Kenosha Storage Upside
There is significant upside remaining at Kenosha through continued progress in leasing up the property as it heads into the rental season, an aggressive tenant insurance strategy, and amended the Planned Unit Development (PUD) for the below uses:

Monetizing the remaining, asphalt parking lot with enclosed storage unit, enclosed RV storage units and/or open parking for boats and RVs, estimated to increase Potential Rental Income by $82,000 annually leveraging the underutilized parking lot with a 12,000 RSF climate controlled expansion. This is estimated to generate an additional $144,000 per year in Potential Rental Income
Approval to operate a truck/trailer rental franchise

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