1560 Industrial Blvd Bartlesville, OK 74006-6035

Property Details for 1560 Industrial Blvd

Year built

1995

Lot size

7.51 lot acres

Property size

100,409 SF

Property type

Commercial real estate

APN

010021-000009-000000-01

APU

1002100000900000001

Description

This exceptional investment opportunity presents a 100,193-square-foot Class B warehouse in Bartlesville, Oklahoma, situated on a 19.1-acre lot at 1560 Industrial Blvd. The property boasts a brand-new, ten-year triple-net (NNN) lease with Blue Whale Materials, a lithium-ion battery processing company, commencing August 31, 2023. The lease includes three, five-year renewal options and features a 3% annual rent increase, ensuring consistent income growth. The building, constructed in 1995, offers 27-foot ceiling heights, 16 loading docks, and a wet sprinkler system. With a current NOI of $540,570 and a pro-forma NOI of $556,972, the property offers a compelling 7.61% cap rate and a pro-forma cap rate of 7.84%. The asking price is $7,100,000, translating to $70.86 per square foot. The property benefits from its strategic location within the Tulsa MSA, offering excellent access to major transportation arteries including US Hwy 60 and US-75, as well as proximity to Tulsa International Airport, regional rail lines, and the Tulsa Port of Catoosa. Recent tenant improvements totaling $1.55 million further solidify the tenant's commitment and the property's long-term value. This asset represents a strong investment in a desirable industrial submarket characterized by low vacancy rates and significant rental growth. The tenant's selection of Bartlesville highlights the area's pro-business environment and robust infrastructure.

Location Insight

City

Bartlesville

County

Washington

State

Oklahoma

Longitude

-95.894

Latitude

36.7319

CBSA code

12780

CBSA name

BARTLESVILLE, OK MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments