2144 Albany St Broken Arrow, OK 74012

Property Details for 2144 Albany St

Year built

1986

Lot size

6.29 lot acres

Property size

85,283 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 85,283 square foot multi-tenant business center presents a compelling value-add investment opportunity in Broken Arrow, Oklahoma. Located on a 6.29-acre lot at 2144 W Albany St, this property comprises nine buildings constructed in 1986 using concrete tilt construction and metal roofs. The center boasts desirable light industrial features including overhead doors, commercial entrances, and high ceilings, catering to a diverse range of businesses. Currently operating at 76% occupancy with a Net Operating Income (NOI) of $609,919 and a 7.50% cap rate, the property offers significant upside potential. A majority of the leases are short-term and below market rates, providing immediate opportunities for rent increases. Further enhancing the investment potential are 84 self-storage units, also operating below market rates on month-to-month agreements. The property benefits from a high-traffic location at an intersection with 45,000 cars per day, adjacent to McDonald's and across from a QuikTrip. Its proximity to the Broken Arrow Expressway (0.2 miles, over 96,000 cars daily) and Tulsa International Airport (11 miles) adds to its strategic appeal. The Tulsa MSA boasts a low unemployment rate of 3.60%, significantly below the national average, and a thriving healthcare sector. The asking price is $8,135,000, representing a price per square foot of $95.39. This fee simple ownership opportunity is structured as a Net Lease with a remaining lease term of one year. The property's features, location, and market conditions create a strong foundation for substantial returns.

Location Insight

City

Broken Arrow

County

Tulsa

State

Oklahoma

Longitude

-95.814

Latitude

36.0758