310 Highland Ave Midwest City, OK 73110-2130

Property Details for 310 Highland Ave

Year built

1999

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.18 lot acres

Property size

7,920 SF

Property type

Medical offices

Property subtype

Medical centers

APN

15-060-1800

APU

150601800

Description

This exceptional investment opportunity presents a fee-simple interest in an 8,000-square-foot medical office building situated on a 1.18-acre lot in Midwest City, Oklahoma. The property, constructed in 1999 to the tenant's specifications, is a single-tenant net lease with Fresenius Kidney Care, a leading operator in the healthcare industry. The current lease, boasting a 27-year operating history, includes a recent two-year extension, expiring August 31, 2026, leaving approximately 1.8 years remaining. The lease features a 2% annual rent increase, providing built-in rent growth. The property enjoys a 100% occupancy rate, generating a substantial net operating income (NOI) of $128,000, resulting in a compelling 10.19% cap rate. The asking price is $1,256,000, translating to $157 per square foot. The building is a one-story structure with 62 parking spaces. The property benefits from its location on South Highland Avenue, a high-traffic area, and its proximity to SSM Health St. Anthony's Hospital - Midwest. The surrounding area boasts strong demographics, with nearly 122,000 people within a five-mile radius and an average household income exceeding $69,000 within a one-mile radius. The lease includes options for two, five-year extensions. This is a recession-resistant asset with minimal landlord responsibilities, offering a secure and profitable investment in a growing industry. The property is located at 310 S Highland Ave, Midwest City, OK 73110.