2414 Shawnee Rd Muskogee, OK 74403
- Retail properties
- 8,031 SF
- 0.58 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2414 Shawnee Rd
- Year built
- 1990
- Lot size
- 0.58 lot acres
- Property size
- 8,031 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Muskogee
- County
- Muskogee
- State
- Oklahoma
- Longitude
- -95.3371
- Latitude
- 35.7707
