Boat/RV Storage Facility

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Confidential Offering Memorandum Boat/RV Storage Facility Casey Massegee, CCIM Principal | 405.285.2100 X10 | [email protected] Chris Anderson, CCIM Principal | 405.285.2100 X11 | [email protected] FOR MORE INFORMATION, PLEASE CONTACT: 5601 S. Laura Drive, Oklahoma City, OK 73179 Grant Group 113 S. Broadway Edmond, OK 73034 Office: 405.285.2100 Fax: 405.285.2007 www.grantgroupok.com

Transcript of Boat/RV Storage Facility

Page 1: Boat/RV Storage Facility

Confidential Offering Memorandum

Boat/RV Storage Facility

Casey Massegee, CCIM Principal | 405.285.2100 X10 | [email protected]

Chris Anderson, CCIM Principal | 405.285.2100 X11 | [email protected]

FOR MORE INFORMATION, PLEASE CONTACT:

5601 S. Laura Drive, Oklahoma City, OK 73179

Grant Group113 S. Broadway

Edmond, OK 73034Office: 405.285.2100

Fax: 405.285.2007www.grantgroupok.com

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Table Of Contents

The information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies. grantgroupok.com

1. PROPERTY INFORMATION 3

4Executive Summary - Advanced

2. LOCATION INFORMATION 5

6Location Maps

3. FINANCIAL ANALYSIS 7

8Unit Mix Summary9Financial Summary

10Income & Expenses11Additional Photos12Additional Photos13Additional Photos

4. ADDITIONALINFORMATION

14

15Site Plan

5. ADVISOR BIOS 16

17Advisor Bio & Contact 1

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

1. PROPERTY INFORMATION

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

PROPERTY OPROPERTY OVERVERVIEWVIEWRVIndoor is an newly built enclosed Boat/RV storage facility consisting of 42 rentableunits. The facility consists of two separate sites less than 5 minutes from each other. Thefirst site, built in 2004 offers both 14x50 units and 16x50 units. The second site, newly builtin 2017 offers all 14x50 units and is already approximately 50% occupied in less than 12months. RV Indoor offers an investor the ability to acquire a well built Boat/RV storageoperation at a bargain price before it is completely stabilized.

The facility boasts fully insulated buildings including large 12'x14' motorized insulatedoverhead doors, electric outlets in each bay, extra wide concrete drives (approx 70' wide)as to allow for easy maneuvering with large boats and RV's, efficiently lit LED exterior andonsite ADA restrooms for its customers. The acquisition also includes two incomeproducing rental homes and a RV pad that are all located on site.

LLOCAOCATION OTION OVERVERVIEWVIEWLocated on the northwest boundary of Will Rogers World Airport and just less than 2 mileseast of Highway 152.

PROPERTY SUMMARY

Sale PricSale Price:e: $1,050,000

Cap RaCap Ratte:e: 8.86%

NOI:NOI: $93,005

LLot Sizot Size:e: 2.19 Acres

Building SizBuilding Size:e: 31,764 SF

YYear Built:ear Built: 2017

MarkMarket:et: Oklahoma City

Executive Summary1 | PROPERTY INFORMATION

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

2. LOCATION INFORMATION

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

PROPERTY HIGHLIGHTS

• NEW CONSTRUCTION - NEWEST BLDGS BUILT IN 2017

• FULLY INSULATED W/ SPRAY FOAM

• ONLY $33 PER SQUARE FOOT

• 8.86 CAP WHEN STABILIZED

POPULATION 1 MILE 5 MILES 10 MILES

TOTAL POPULATION 562 67,027 487,872

MEDIAN AGE 36.2 31.9 34.0

MEDIAN AGE (MALE) 38.1 31.4 33.5

MEDIAN AGE (FEMALE) 34.3 33.1 34.8

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

TOTAL HOUSEHOLDS 197 24,905 188,540

# OF PERSONS PER HH 2.9 2.7 2.6

AVERAGE HH INCOME $64,916 $50,294 $54,014

AVERAGE HOUSE VALUE $94,162 $114,286 $130,101

Location Maps2 | LOCATION INFORMATION

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

3. FINANCIAL ANALYSIS

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

UNIT TYPE COUNT % TOTAL SIZE (SF)

14x50 EnclosedBoat/RV - Laura Dr. 32 71.1 700

14x50 EnclosedBoat/RV - Main St. 7 15.6 700

16x50 EnclosedBoat/RV - Main St. 3 6.7 800

Onsite Rental Home 1 2.2 1,328

Onsite Rental Home -Main St. 1 2.2 368

RV Pad 1 2.2 0

Totals / Averages 45 100% 31,396

Unit Mix Summary3 | FINANCIAL ANALYSIS

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

INVESTMENT OVERVIEW PRO FORMA

Price $1,050,000Price per SF $33.06CAP Rate 8.9%Cash-on-Cash Return (yr 1) 12.61 %Total Return (yr 1) $51,574Debt Coverage Ratio 1.4

OPERATING DATA PRO FORMA

Gross Scheduled Income $131,280Other Income $600Total Scheduled Income $131,880Vacancy Cost $13,188Gross Income $118,692Operating Expenses $25,687Net Operating Income $93,005Pre-Tax Cash Flow $26,481

FINANCING DATA PRO FORMA

Down Payment $210,000Loan Amount $840,000Debt Service $66,524Debt Service Monthly $5,543Principal Reduction (yr 1) $25,093

Financial Summary3 | FINANCIAL ANALYSIS

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

Income & Expenses3 | FINANCIAL ANALYSIS

INCOME SUMMARY PRO FORMA PER SF

GROSS INCOME $118,692 $3.74

EXPENSE SUMMARY PRO FORMA PER SF

Real Estate Taxes $13,737 $0.43Property Insurance $4,900 $0.15Repair/Maintenance $1,500 $0.05Utilities $4,600 $0.14Landscape Maintenance $450 $0.01Misc. Expense (Advertising,Office Exp, Bank Fees, etc.) $500 $0.02

GROSS EXPENSES $25,687 $0.81

NET OPERATING INCOME $93,005 $2.93

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

Additional Photos3 | FINANCIAL ANALYSIS

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

Additional Photos3 | FINANCIAL ANALYSIS

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

Additional Photos3 | FINANCIAL ANALYSIS

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

4. ADDITIONAL INFORMATION

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

Site Plan4 | ADDITIONAL INFORMATION

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

5. ADVISOR BIOS

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grantgroupok.comThe information contained herein has been secured by sources believed to be reliable. Grant Group, however, makes norepresentation or warranty, expressed or implied, as to the accuracy of the information. Buyer assumes all risk for any inaccuracies.

113 S. BroadwayEdmond, OK 73034

T 405.285.2100 x10C [email protected]

PrincipalPrincipalCACASEY MASEY MASSSEGEE, CSEGEE, CCIMCIM PrProfofesessional Backsional Backgrgroundound

Casey Massegee is a principal and one of two managing partners of The Grant Group, a full servicecommercial real estate firm located in Edmond, Oklahoma. Casey specializes in the acquisition anddisposition of income producing properties such as apartment buildings, self storage facilities, and netlease investments.

Casey brings an array of additional tools to the table through his in depth and real world experience innot only brokerage and financial analysis but also property management, rehabilitation/repositioning aswell as new construction.

Prior to forming The Grant Group, Casey was a top performing investment advisor for anotherprominent commercial real estate firm in Oklahoma. In addition to holding his broker’s license, Caseyhas also obtained his NASD securities and insurance licenses and has obtained the prestigious CertifiedCommercial Investment Member (CCIM) designation. Only 6% of the estimated 150,000 commercialreal estate practitioners nationwide hold the CCIM designation, which reflects not only the caliber ofthe program but also why it is one of the most coveted and respected designations in the commercialreal estate industry.

Casey is a graduate of the University of Oklahoma with a BA in Marketing. He is a member of theNational Association of Realtors (NAR), Realtors Commercial Alliance (RCA), the Commercial RealEstate Council (CREC) and the Certified Commercial Investment Member network (CCIM).

Advisor Bio & Contact 15 | ADVISOR BIOS