Updated Oct 29, 2024
Cross Development Acquires Self Storage Property In Norman, OK For $7M
4801 West Main Street, Norman, Oklahoma 73072, United States
$7,000,000
$80,459/SF
Building Size
87 SF
Asset Type
Self Storage
Closing
Jan 11, 2023
About this deal
AI
The self-storage property located at 4801 W Main Street in Norman, OK has been sold in a transaction. The property spans a total area of 87,700 square feet and was sold for a price of $7,000,000, resulting in a price per square foot of $80. The sale took place on January 12, 2023.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $7,000,000
- Address: 4801 W Main Street, Norman, OK
- Market: Norman, OK
- Buyer: Cross Development
- Seller: Northstar Properties
- Broker: Brandon Karr, Danny Cunningham & Bryan Quaschnick - Marcus & Millichap
- Square Footage: 87,700
- Price Per Square Foot: $80
The deal was facilitated by the brokerage team consisting of Brandon Karr, Danny Cunningham, and Bryan Quaschnick from Marcus & Millichap. They represented the buyer, Cross Development, and the seller, Northstar Properties, in this transaction.
On the Map
$7,000,000
$80,459/SF
Self Storage
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Players
Norman Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93