About the Facility

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FE ATURES  

• $350,000 

• 26,968 NRSF 

• 5.52 Acres 

• Ample Room for Expansion 

• Below Market Rents & Occupancy 

• New Gate, Exterior Lighting and Security Cameras 

L OC  AT ION   

• Ardmore, OK 

• 100 Miles From Oklahoma City 

• 106 Miles From Dallas 

• Close Proximity to Lake Murray (5,700 acre lake) 

• Located on Major North‐South Thoroughfare (S Commerce) 

• 1.2 Miles From  I‐35 

About the Facility

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Lahoma Boat & Mini Storage is located in Ardmore, Oklahoma about half way between Oklahoma City and Dallas.

The property is located on S Commerce Street and is 1.2 miles east of Interstate 35. Lahama Boat & Mini Storage is conveniently located near Lake Murray, a 5,700 acre lake. Lake Murray State Pak completely encompasses the entire lake and consists of 12,500 acres. The facility is located 2.8 miles from downtown Ardmore.

Construction highlights include crushed gravel driveways, non-climate and boat/rv metal buildings, steel framing and concrete floors. Lahoma Boat & Mini Storage is equipped with new exterior lighting, three security cameras and a new gated entry with keypad access. There is an office on-site and two apartments.

Lahoma Boat & Mini Storage has 26,968 NRSF and sits on +/- 5.52 Acres. The below market rates and occupancy and ample expansion room are both value add opportunities for a new buyer.

THE PR OPER T Y   

Details & Amenities • Offering Price: $350,000 

• $ / NRSF: $21 

• Total Units: 171 

• NRSF: 26,968 

• Physical Occupancy:  52% 

• Economic Occupancy:  41% 

• Acres: 5.517 

• Expansion Room:  Yes 

• Year Built: 1981 

• Construction: Steel & Metal 

• Roofs: Metal Screw Down 

• Driveways: Crushed Gravel 

• Concrete Foundation:  Yes 

      

• Office Hours:  N/A ‐ Appointment 

Only 

• Gate Access Hours: 24 Hours • Buildings: 21 

• Location: S Commerce Street Near 

Hwy 70 

• On‐Site Office:  Yes • On‐Site Apartment: Yes ‐ 2 

• Personnel: N/A 

• Distance From I‐35: 1.2 Miles 

• Distance From Dallas: 106 Miles 

• Distance From Oklahoma City: 100 

Miles   

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UN I T  MIX   

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Unit Mix 

Size 

Type  Street Rate 

Sq. Ft. / Unit 

Total Units 

Total Sq. Ft. 

GPR / Month 

GPR / Year 

5x6  ncc  $30  30  10  300  $300  $3,600 6x8  ncc  $30  48  26  1,248  $780  $9,360 

10x10  ncc  $40  100  60  6,000  $2,400  $28,800 10x20  ncc  $50  200  13  2,600  $650  $7,800 30x40  ncc  $300  1200  1  1,200  $300  $3,600 

10x24  boat  $50  240  12  2,880  $600  $7,200 10x26  boat  $60  260  49  12,740  $2,940  $35,280 

n/a  apt  $500  n/a  2  n/a  $1,000  $12,000 

Unit Mix Summary 

Total Units 

Total Sq. Ft.  GPR / Month 

GPR / Year 

ncc  110  11,348  $4,430  $53,160 boat  61  15,620  $3,540  $42,480 apt  2  n/a  $1,000  $12,000 

Total  173  26,968  $8,970  $107,640 

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2017 P & L 

2017 

Gross Potential Rent  $107,640 Vacancy  $55,031  52% Rental Income  $52,609 

Effective Gross Income  $52,609 

Expenses 

Insurance  $5,939 Property Taxes  $2,984 Lawncare  $2,400 Water/Trash  $1,908 Electricity  $1,320 Hughes Net  $1,620 MNG Fee  $5,568 

Total Expenses  $21,739  41% NOI  $30,870 

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SE VEN Y EAR ANAL Y SIS  

Market Year 1 Year 2 Year 3  Year 4 Year 5 Year 6  Year 7 Adjustments Projected Projected Projected Projected Projected Projected Projected 

Revenue   

Gross Potential Rent  $107,640      $ 107,640  

   $107,640      $107,640      $107,640      $107,640      $107,640      $107,640  

Vacancy  ($55,973)  52%  ($48,438)  45%  ($26,910)  25%  ($21,528)  20%  ($16,146)  15%  ($12,917)  12%  ($12,917)  12%  ($10,764)  10% 

Effective Gross Income  $51,667     $72,637     $102,021     $112,088     $122,666     $130,805     $134,729     $141,925  

Expenses   

Insurance  $5,939     $6,117     $6,301     $6,490     $6,684     $6,885     $7,091     $7,304     

Property Taxes  $2,984     $3,074     $3,166     $3,261     $3,359     $3,459     $3,563     $3,670  

Lawncare  $2,400     $2,472     $2,546     $2,623     $2,701     $2,782     $2,866     $2,952  

Water/Trash  $1,908     $1,965     $2,024     $2,085     $2,147     $2,212     $2,278     $2,347  

Electricity  $1,320     $1,360     $1,400     $1,442     $1,486     $1,530     $1,576     $1,623  

Hughes Net  $1,620     $1,669     $1,719     $1,770     $1,823     $1,878     $1,934     $1,992  

Mng Fee  $5,568     $5,735     $5,907     $6,084     $6,267     $6,455     $6,648     $6,848  

Total Expenses  $21,739   42%  $22,391   27%  $23,063   20%  $23,755   19%  $24,467   18%  $25,201   17%  $25,958   17%  $26,736   17% 

NOI  $29,928      $50,246      $78,958      $88,333      $98,199      $105,604      $108,771      $115,189  

       Cap Rate Analysis  8.55%     14.36%     22.56%     25.24%     28.06%     30.17%     31.08%     32.91%    ***Cap Rate is based on $350K sales price.                                 

Location & Map LAHOMA BOAT & MINI STORAGE 3336 S COMMERCE ST. ARDMORE,  OK  73401  

        

Location              

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Location & Map LAHOMA BOAT & MINI STORAGE 3336 S COMMERCE ST. ARDMORE,  OK  73401  

            

Location         

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Photos

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Photos

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Aerial Map