8500 Us-77Noble, OK 73068

Property Details for 8500 Us-77

Year built

2011

Lot size

2.26 AC

Property size (Sq ft)

29,680 SF

Property type

Self storage facilities

Description

This exceptional 29,680 square foot self-storage facility in Noble, Oklahoma, presents a compelling value-add investment opportunity. Built in 2011, the single-story, 190-unit property sits on a 2.26-acre lot and currently boasts an 85% occupancy rate, generating a strong NOI of $173,366. Pro-forma projections indicate a significant increase in NOI to $236,231, resulting in a compelling pro-forma cap rate of 10.99%. The property benefits from a prime location just 15 minutes south of the University of Oklahoma, experiencing high traffic volume with over 17,500 vehicles passing daily. The area demonstrates a robust market with a median household income exceeding $75,000 and a population density of over 130,000 within a 10-mile radius. The current asking price is $2,150,000, translating to $11,315.79 per unit. With limited competition and a strong upward market trend, this property offers significant potential for growth and return on investment. The property operates under a gross lease and is not subject to a ground lease. The APN is SD40SOINP. The property's location is 8500 US-77, Noble, OK 73068. This is a multi-tenant property with a current occupancy date of September 16, 2024.

Location Insight

City

Noble

County

Cleveland

State

Oklahoma

Latitude

35.1148

Longitude

-97.3789

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