1749 Aspen Ave Broken Arrow, OK 74012-1197

Property Details for 1749 Aspen Ave

Year built

2008

Construction

WOOD FRAME

Lot size

1.46 lot acres

Property size

20,671 SF

Zone code

IL

Property type

Medical offices

Property subtype

Medical centers

APN

79425-84-03-28670

APU

79425840328670

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.

Location Insight

City

Broken Arrow

County

Tulsa

State

Oklahoma

Longitude

-95.8147

Latitude

36.0704

CBSA code

46140

CBSA name

TULSA, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments