Jared Jones, CCIM of Porthaven Partners sold Duncan Mini Storage in Duncan, OK on October 31, 2016 for $1,750,000. Duncan Mini Storage is an 84,898 rentable square foot facility located in the city of Duncan, approximately 80 miles southwest of Oklahoma City. The facility consists of two main locations and two annex locations plus additional land for expansion.
The buyer, a private investor based in Oklahoma, recognized this as a great value-add opportunity to implement professional software, dress up the property, raise rental rates and potentially expand. The low acquisition price per square foot provides the buyer with a great opportunity to fix and flip, or to hold long term with a very attractive risk/return profile. There was significant buyer interest in this property with multiple bidders involved. Oklahoma is a very active market with many qualified buyers seeking to pay a premium price for high-quality self-storage assets.
Jared Jones, CCIM is the Argus Self Storage Sales Network broker affiliate for the state of Oklahoma and he can be reached at 918-583-3483. Based in Denver, Colorado, the Argus Self Storage Sales Network (ASSSN) was formed in 1994 to assist owners and investors of self-storage with their real estate needs. Through the years, Argus has assembled a network of real estate brokers experienced in self-storage and income property investments. Now the largest self-storage brokerage network in the United States, the ASSSN has 36 Broker Affiliates covering nearly 40 markets. These brokers are able to meet the needs of self storage investors and owners whether it is acting as a buyer’s agent or listing and marketing a property. For more information call 1-800-55-STORE or visit www.argus-selfstorage.com.