stor-mor mini storage

Grandstone Investment Sales is pleased to exclusively present Stor-Mor Self Storage, a self storage renovation opportunity located at 7600 North Rockwell Avenue, Oklahoma City, OK. This property comprises 363 units across 46,900 NRSF and sits on a 3.49-acre lot. Constructed in 1998, the facility presents a significant value-add opportunity to stabilize operations through professional management and lease-up. The property is currently 72.2% physically occupied, but with economic occupancy at just 39.0%, there is a clear path to improving revenue through better management, optimized pricing, and leasing up vacant units. Projected NOI growth from $43,660 currently to $349,858 in Year 2 highlights the upside potential for this asset.

The investment offers a compelling return profile with an IRR of 8.9% and an equity multiple of 1.53x over a 5-year hold period. Additionally, the property’s physical advantage as the newest facility among its primary competitive set provides a strong foundation for capturing market share and further enhancing its value. The local market serves a robust tenant base in Oklahoma City, where the subject property operates as the largest facility among its immediate competitors. With an entry cap rate of 0.89% expanding to a projected 5.99% in Year 1, this offering presents a unique opportunity to capitalize on the underperformance of the current operation and realize strong returns through strategic management, operational upgrades, and targeted leasing efforts.