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Board lowers assessed value for SLR Norman Tecumseh self-storage to $4,027,601
Summary
After hearing income and sales data, the board reduced the 2025 fair cash value for SLR Norman Tecumseh (2576 W Tecumseh Road) to $4,027,601 from $4,463,045, citing blended valuation approaches.
The Cleveland County Equalization Board voted July 24 to lower the 2025 fair cash value for SLR Norman Tecumseh (Account No. 176228), a 2018-built self-storage facility, to $4,027,601.
Agent Brittany Dowd presented income and expense figures for the property: gross income $443,163; expenses $174,602; net operating income $268,561; and she used a 7.5% capitalization rate, stating, "The Indicated value is $3.5 million." Assessor staff member Tracy Gainey described comparable sales and an assessor-derived income approach that produced a blended value of $4,463,045. After discussion the board voted 3'00 to accept a compromise reduction to $4,027,601, moved by Josh Edge and seconded by John Wullich.
Board members recorded their votes as Chuck Thompson, yes; Josh Edge, yes; John Wullich, yes. The action adjusts the assessor's previously reported 2025 market value and becomes part of the board's official minutes.
