G's Mini Storage

Highlights:

• Two-site self-storage portfolio under common ownership, management, and front gate — Poteau, OK
• 385 units / ~54,820 NRSF total: ~224 units at 2113 N. Broadway (incl. RV); 161 units at 105 Coggins (incl. all 23 climate-controlled units)
• Positioned behind two of Poteau's highest-traffic retail anchors: Dollar General (Broadway) and O'Reilly Auto Parts (Coggins) — visibility from both ends of the commercial corridor
• 87.6% physical / 88.5% economic occupancy — income from day one, no lease-up risk
• In-place rates 40-50% below national benchmarks — $75,300 of annualized rate recapture identified
• T-12 Normalized NOI: $193,282 | Year-1 PF: $225,000 | Year-2 Stabilized: $260,000
• Defined back-row expansion opportunity at the Coggins site — additional 10x20 buildout previously scoped (engineering pending)
• $3,750,000 list — 6.00% Y1 cap / 6.93% Y2 cap
• 62% LTV / 6.50% / 25-yr amort / 24-mo IO financing clears 1.49x DSCR Y1; 7.3% Year-2 cash-on-cash
• 35 miles SW of Fort Smith via US-59/US-271 — direct regional connectivity

Description:

Harmon Real Estate Company is pleased to present the exclusive offering of G's Mini Storage, a stabilized two-site self-storage portfolio totaling 385 units / approximately 54,820 net rentable square feet in Poteau, Oklahoma. The property operates as a single facility under unified branding, management, and front-gate access, with the 2113 N. Broadway St. site (~224 units, includes RV parking) and the 105 Coggins St. site (161 units, including all 23 climate-controlled units) positioned behind two of the city's highest-traffic retail anchors.

The portfolio is operating at 87.6% physical / 88.5% economic occupancy with $193,282 of T-12 Normalized NOI and a defined, mechanical path to $260,000+ Year-2 stabilized NOI. The Coggins site contains the entire climate-controlled inventory (11 × 10x10 CC and 12 × 10x15 CC) — a long-tenured, high-demand product class per current ownership reporting. The Broadway site carries the heavier drive-up mix plus two RV/boat spaces.

The core value-add thesis is unusually clear and operator-controllable: in-place rates sit 40-50% below national benchmarks for comparable Class B tertiary product. A disciplined ECRI rollout supports a ~24% weighted rate uplift, representing $75,300 of annualized gross revenue recapture before exhausting market headroom. Stabilized in-place occupancy provides cash flow during execution rather than requiring lease-up risk.

Identified upside beyond rate optimization: current ownership has scoped a back-row expansion at the Coggins site (additional 10x20 units, set back from the perimeter fence) — providing a defined growth lane subject to engineering and entitlement diligence.

G's Mini Storage occupies two contiguous sites in Poteau, Oklahoma — county seat of LeFlore County — operating as a single facility under common ownership, management, and front-gate access. The Broadway site (2113 N. Broadway St., behind Dollar General) and the Coggins site (105 Coggins St., behind O'Reilly Auto Parts) together provide 385+ units of mixed product across the city's primary retail corridor.

Poteau is located approximately 35 miles southwest of Fort Smith, Arkansas, with direct regional connectivity via US-59 and US-271. The city anchors a LeFlore County trade area of roughly 50,000 residents (2025 estimate) and serves as the commercial hub for the Ouachita Mountain foothills region.

The local economy rests on a diversified employer base — Eastern Oklahoma Medical Center, Carl Albert State College, OK Foods, Old Castle Infrastructure, the Choctaw Nation of Oklahoma, Walmart, and Kiamichi Technology Center — spanning healthcare, education, food processing, infrastructure manufacturing, tribal government, and retail. The mix has supported stable population growth across LeFlore County over the last decade and provides a resilient demand floor through economic cycles.

Storage demand drivers include high single-family homeownership (most stock without garage capacity), an active outdoor recreation economy (boating, hunting, ATV, lake property), seasonal turnover at Carl Albert State College, and a meaningful military/veteran population. Modern Class A and value-positioned Class B supply remains limited relative to comparable tertiary Oklahoma metros. The property's two-site footprint, including positioning behind two of the city's highest-traffic retail anchors (Dollar General and O'Reilly Auto Parts), captures visibility from both ends of the primary commercial corridor.

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