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708 W Kenosha St - Extra Space Storage (3rd Party Managed) 63,593 SF Specialty Building Offered at $6,400,000 in Broken Arrow, OK 74012
INVESTMENT HIGHLIGHTS
- Institutional-quality asset located in Tulsa, OK, a top 55 MSA
- Significant upside remaining through capturing tenant insurance
- Attractive scale for current or new market entrants
- Well-positioned infill location with high barriers to entry
- High-quality construction
- Opportunity to lower acquisition basis through pad site land lease, development or disposition
EXECUTIVE SUMMARY
Extra Space Storage (3rd party managed) is a self-storage conversion project which opened in July 2020 and has been managed by Extra Space since December 2022. It possesses prominent frontage with reader board signage and is located on Kenosha Street. 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 ($114,969 AHHI) and population (74.000) 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
• Updated facility office
Storage Upside
There is significant upside remaining through capturing the tenant insurance revenue, and moving forward with the approved PUD Amendment for expansion and monetizing the pad site to lower the purchase basis.
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
• Updated facility office
Storage Upside
There is significant upside remaining through capturing the tenant insurance revenue, and moving forward with the approved PUD Amendment for expansion and monetizing the pad site to lower the purchase basis.
PROPERTY FACTS
| Price | $6,400,000 | Lot Size | 4.62 AC |
| Price Per SF | $100.64 | Building Size | 63,593 SF |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1973 |
| Property Subtype | Self-Storage | No. Drive In / Grade-Level Doors | 1 |
| Building Class | C | ||
| Zoning | IL - Light Industrial | ||
| Price | $6,400,000 |
| Price Per SF | $100.64 |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 4.62 AC |
| Building Size | 63,593 SF |
| No. Stories | 1 |
| Year Built | 1973 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | IL - Light Industrial |
AMENITIES
- Air Conditioning
1 1
PROPERTY TAXES
| Parcel Number | 98403-84-03-72140 | Improvements Assessment | $230,384 |
| Land Assessment | $99,616 | Total Assessment | $330,000 |
PROPERTY TAXES
Parcel Number
98403-84-03-72140
Land Assessment
$99,616
Improvements Assessment
$230,384
Total Assessment
$330,000
CONTACTS
-
Jones Investment Real Estate Jared Jones -
Amy
Hitchingham
- Jones Investment Real Estate
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708 W Kenosha St - Extra Space Storage (3rd Party Managed)
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