1749 Aspen Ave, Broken Arrow, OK 74012-1197
- Medical Office Space
- 20,671 SF
- 1.46 lot acres
Current Use by Public Records
- Medical Office Space
Property Details for 1749 Aspen Ave
- Year built
- 2008
- Construction
- WOOD FRAME
- Lot size
- 1.46 lot acres
- Zone code
- IL
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 79425-84-03-28670
- APU
- 79425840328670
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 27, 2024 | $4,250,000 | Crane Manor Apartments LLC | Lester Properties LLC | Warranty Deed | $2.5M · First Fidelity Bank |
| Jan 23, 2019 | — | Ssb Kids LLC | — | Deed · related | $360k · Kid's Sports Center LLC |
| Jul 17, 2018 | — | Lester Properties LLC | Greenway Associates | Quit Claim Deed · related | — |
| Jul 2, 2018 | — | Lester Properties LLC | — | Trustees Deed · related | $3.6M · Commerce Bk |
| Apr 4, 2017 | — | Lester Properties LLC | — | Deed · related | — |
| May 19, 2006 | $475,000 | Lester Properties LLC | Midwesco Industries INC | Warranty Deed | — |
| Apr 17, 2001 | — | Midwesco Industries INC | Greenway Associates | Grant Deed · related | — |
| — | — | Ssb Kids LLC | — | Deed Of Trust · related | $360k · Kid's Sports Center LLC |
| — | — | Lester Properties LLC | — | Loan Modification · related | — |
| — | — | Lester Properties LLC | — | Deed Of Trust · related | $3.6M · Citizens Security Bank & Trust |
| — | — | Lester Properties LLC | — | Deed Of Trust · related | $3.6M · Citizens Sec Bk |
| — | — | Lester Properties LLC | — | Loan Modification · related | — |
| — | — | Lester Properties LLC | — | Loan Modification · related | — |
| — | — | Lester Properties LLC | — | Deed Of Trust · related | $3.6M · Citizens Security Bank & Trust |
| — | — | Lester Properties LLC | — | Deed Of Trust · related | $3.6M · Citizens Security Bank & Trust |
Description
This exceptional investment opportunity presents a fully leased, 20,415 square foot medical office building situated on a 1.46-acre lot in Broken Arrow, Oklahoma. Located on a high-traffic street, just half a mile from the Broken Arrow Expressway, this property enjoys unparalleled accessibility. The building, constructed in 2008 and renovated in 2019, features structural steel construction with metal studs and boasts approximately 62 parking spaces. The building is 100% occupied by four tenants, including a national medical imaging provider, a regional pain management group, and a regional sleep institute, all contributing to a strong NOI of $337,674 and a 7.95% cap rate. The asking price is $4,250,000, translating to $208.18 per square foot. The property benefits from approximately four years remaining on its roof warranty (Modified Bitumen) and features a tenant rent bump structure of 2-3%. Significant tenant improvements totaling approximately $2.2 million have been invested. The property's prime location is approximately one mile from Ascension St. John Hospital Broken Arrow, further enhancing its desirability and value within the thriving Broken Arrow market, Oklahoma's fourth largest city with a population of 125,000. The property's APN is R79425840328670. This is a rare opportunity to acquire a high-performing, stable medical office building in a rapidly growing area.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,450,000
- 6.5%
- $3,185,000
- 7%
- $2,955,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,154,000
Market price range: $1.92M - $5.63M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $3,820,000 Current use
- RESTAURANT
- $5,445,000 Change: +43% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $3,875,000 Change: +2% Conversion: Easy
- AUTO REPAIR, GARAGE
- $3,295,000 Change: -14% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Broken Arrow
- County
- Tulsa
- State
- Oklahoma
- Longitude
- -95.8147
- Latitude
- 36.0704
- CBSA code
- 46140
- CBSA name
- TULSA, OK METROPOLITAN STATISTICAL AREA
