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2414 Shawnee Rd Muskogee, OK 74403

For Sale
$1,723,000

8,031 SF Medical Office, Strong NOI

Property size:
8,031 SF

Description

Added:
Dec 11, 2024
Days on Market:
370
This exceptional investment opportunity presents a fee-simple, 8,031-square-foot freestanding medical office building in Muskogee, Oklahoma. Currently operating as a Veterans Affairs outpatient and mental health clinic, the property boasts a 100% occupancy rate with a single tenant under a net lease agreement. The lease commenced January 10, 2010, and has a remaining term of approximately 6.5 years, expiring September 29, 2030. Significant rent bumps are built into the lease, with increases of $0.83 per square foot in 2025 and an additional $2.00 per square foot in 2027. The property features 55 parking spaces and sits on a 0.58-acre lot. Built in 1990 and renovated in 2010 and 2020, the single-story building offers a strong net operating income (NOI) of $150,825, resulting in an attractive 8.75% cap rate. The asking price is $1,723,000, translating to $214.54 per square foot. The property enjoys a high-traffic location at the intersection of Shawnee Bypass and York Street, experiencing 29,700 vehicles per day, with an annual increase of 2,000 vehicles. Its proximity (3-5 miles) to the Jack C. Montgomery VA Regional Medical Center and regional benefit offices further enhances its desirability. The property's strong tenant, long-term lease, and built-in rent increases make this a compelling investment opportunity with significant future upside.

Property Features for 2414 Shawnee Rd

General Information

Property type
Medical space
Square Feet
8,031 SF
Lot Size
25,265 SF

Building Details

Year Built/Renovated
1990/2010
Buildings
1
Stories
1
Units
1

HighLights

  • 8,031 SF freestanding medical office building, currently leased to the Veterans Affairs.
  • Net lease with 6.5 years remaining, expiring September 29, 2030; rent bumps of $0.83/SF in 2025 and $2.00/SF in 2027.
  • Includes a 3% management fee and high CAMs, with a high insurance expense of $0.50/SF.
  • High‑traffic location at the intersection of Shawnee Bypass and York Street (29,700 vehicles per day, growing 2,000 annually).
  • Located 3‑5 miles from the Jack C. Montgomery VA Regional Medical Center and regional benefit offices.
Property Profile Location Intelligence

Current Use by Public Records

Medical space

Suggested Use

Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Muskogee
County
Muskogee
State
Oklahoma
Longitude
-95.33709967502
Latitude
35.770733241153

FAQs

What type of property is this?
Medical space - 8,031 SF Medical Office, Strong NOI
Where is this medical space located?
The property is located at 2414 Shawnee Rd Muskogee, OK.
What is the asking price?
The asking price for this property is $1,723,000.
What are key features of this property?
This property features: 8,031 SF freestanding medical office building, currently leased to the Veterans Affairs.; Net lease with 6.5 years remaining, expiring September 29, 2030; rent bumps of $0.83/SF in 2025 and $2.00/SF in 2027.; Includes a 3% management fee and high CAMs, with a high insurance expense of $0.50/SF.
More about this property
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