Building Details

Year Built 1980

Listing Agency: Sunshine Realty LLC

Listed By: Rhonda Simmons, Cody Simmons · License #142160OKLAHOMA Show Phone

Source: Sarahflemingestates

Added: Sep 5 Changed: Oct 4 Last Checked: Oct 7 at 3:07PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sunshine Realty LLC

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Investment Insights

Based on property information with market context.

This 3,675-square-foot property includes 15 storage units, with 11 units measuring 10x15, one measuring 20x30, and two 10x15 units with climate control. Fourteen units are leased, while one is used by the owner. The improvements include a building formerly operated as a deli; restaurant equipment is not included.

The property occupies a corner lot at 230 US Highway 77 in Lexington, Oklahoma, with ample parking. Lots 5-6, associated with the Beech St address, are zoned residential per tax records, while Lots 7-12 are zoned commercial. The building is leased through Dec 2026, although the tenant may be willing to vacate earlier.

Key Highlights

• 15 storage units included; 14 are leased and one is owner‑used
• Two 10x15 units are climate controlled
• Unit mix includes eleven 10x15 units, one 20x30 unit, and two additional 10x15 units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,564

Cap Rate

6.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$351,280 $351.3K

Cap Rate 7%

$250,914 $250.9K

Cap Rate 9%

$195,156 $195.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,675 SF

Gross rent

$21.9K $5.95/SF

− Vacancy

−$1.2K −$0.33/SF

EGI

$20.7K $5.62/SF

− OpEx

−$3.1K −$0.84/SF

NOI

$17.6K $4.78/SF

Area

Cleveland County, OK

Vacancy

5.50%

Lease Rate

$5.95 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$351,280

Cap Rate 7%

$250,914

Cap Rate 9%

$195,156

Alternative Uses

Best Use

Self Storage

$492.2K

$430.6K – $574.2K (±1% cap)

NOI $34,451 @ 7.0% cap · market cap 12.53%

Second Best

Warehouse

$250.9K

$219.6K – $292.7K (±1% cap)

NOI $17,564 @ 7.0% cap · market cap 6.39%

Theoretical Best

Office A

$903.7K

$790.8K – $1.05M (±1% cap)

NOI $63,261 @ 7.0% cap · market cap 23.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Self storage facilities

Suggested Use

Top Pick Big Box & Wholesale Store Furniture & Home Goods Storage Facility Hair Salon Kitchen & Bath Showroom HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

99

Businesses Nearby

Explore this area Business Placement

Demographics for 73051, OK

9,541

Population

3,210

Households

3

Avg Household Size

42

Median Age

12%

College-Educated

83%

High-School Grad

126.7 sq mi

ZIP Area

75

Density / Sq Mi

$65,074

Median Household Income

$37,857

Median Earnings

$934

Median Rent

$152,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Self storage facility - Corner property with storage units, climate-controlled space, parking, and an existing building formerly used as a deli.

Where is this self storage facility located?

The property is located at 230 Us Highway 77 Lexington, OK.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: 15 storage units included; 14 are leased and one is owner‑used; Two 10x15 units are climate controlled; Unit mix includes eleven 10x15 units, one 20x30 unit, and two additional 10x15 units