Wolverine Storage
Self Storage Investment Opportunity
Marketing description
Wolverine Storage is located at 8331 N Harrison St. in Shawnee, Oklahoma, within the Wolverine Storage Business Park along North Harrison Street, a primary north-south corridor connecting Shawnee to the greater Oklahoma City metro area. The site sits on 4.93 acres, providing a generous footprint for a 346-unit, 60,200 net rentable square foot facility along with significant additional land for future expansion.
The surrounding area is a mix of commercial, light industrial, and residential uses typical of a growing secondary market, supporting consistent demand for self-storage from both households and small businesses in the trade area.
Built from 2017-2023, the facility offers 346 units across a wide range of sizes — from 5x10 to 30x50 — serving the full spectrum of household and commercial storage needs.
The property is currently operating at 69.4% physical occupancy, with significant land available for expansion and additional surrounding land available for purchase, offering a new owner the opportunity to grow the unit count and rentable square footage over time.
Operationally, the asset has been run under owner management with minimal marketing spend and no tenant insurance program in place, leaving meaningful upside in occupancy, rate, and ancillary income for a buyer who implements institutional-grade management practices.
Investment highlights
- Wolverine Storage is a 346-unit, 60,200 rentable-square-foot self-storage facility on 4.93acres in Shawnee, Oklahoma, currently operating at 69.4% physical occupancy under "mom-and-pop" management — leaving substantial room to grow income through professional, institutional-grade operations.
- 163 of the 228 occupied tenants have not received a rate increase in over 360 days, and the achieved rate of $0.58/SF sits well below the $0.72/SF market rate — creating an immediate Existing Customer Rate Increase (ECRI) opportunity across the entire occupied unit base.
- The property currently has 0% tenant insurance penetration and spent only $309 on marketing in 2025, representing two largely untapped ancillary revenue and lease-up levers that a new owner can activate on day one.
- Ample land for expansion plus additional surrounding land available for purchase position this asset for future unit additions and added value beyond its current footprint, with a clear path from T5/F7 adjusted trailing NOI of $153,917 toward a Year 4 stabilized NOI of $361,342.
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