EZ Storage
Investment Opportunity

Infill location with great population density
High quality facility with low maintenance requirements
Upside available through revenue management
Easily accessible

EZ Storage, located at 7715 E. Easton Street in Tulsa, OK is a Class B storage facility consisting of 262 units and 34,730 rentable square feet (35,286 gross square feet). The property consists of one parcel totaling 2.14 acres. It is sited directly to the north of highly trafficked Highway 412 (69,000 cars per day), ½ a mile from Highway 11 (32,000 cars per day) and 1 ½ miles from Highway 169 (100,000 cars per day). There is a large pole sign on Easton Street, visible from Highway 412, which provides a highly visible entrance point into the property.

The property was constructed in 2004 with a mix of concrete, tilt up and steel construction. There is a mix of 82% non-climate units and 18% climate units. The dual-sloped pitch roof has roof top condensing units on the climate controlled building. The property has concrete drives, sloped metal roofs, security cameras, key pad access, a fenced perimeter, interior lighting, exterior lighting, on-site office (750 SF) and on-site apartment (750 SF). There is a on-site manager’s apartment on the 2nd floor.

The facility is in close proximity to numerous traffic generators for the area including Admiral Twin DriveIn, QuikTrip, Wal-Mart and a substantial amount of residential housing. The property has had several years of stabilized occupancy (Physical Occupancy 89.8%) with no professional, third-party management. Within the past six months, rental rates have been raised with no pushback from tenants. Annualizing the current monthly income projects a 20% increase in revenue above 2018 actuals.

The property is projected to produce a leveraged IRR of 20.09% over a five year holding period with 3% annual rate increases. Annualizing the current monthly income projects a 6.4% increase in revenue above 2018 actuals and puts the property on track to hit year 2 revenue forecasts well within the first year of ownership.

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