3100 29th St Del City, OK 73115-1604

Property Details for 3100 29th St

Lot size

1.56 lot acres

Property size

9,028 SF

Property type

Medical offices

Property subtype

Medical centers

APN

20-193-1000

APU

201931000

Description

This exceptional Class A medical office building presents a compelling investment opportunity. Located in Del City, Oklahoma, at a hard corner on SE 29th Street, this 8,637 square foot property boasts a 15-year net lease with Physicians Choice Dialysis, commencing September 1, 2021, and expiring August 31, 2039. The lease includes three, 5-year renewal options and features a 3% annual rent increase, ensuring consistent income growth. The building, constructed in 2022, is a single-tenant occupancy with 100% occupancy, generating a substantial net operating income (NOI) of $314,705 and a 7.25% cap rate. The property sits on a 1.56-acre lot and benefits from its prime location near Integris Health Southwest Medical Center, a major healthcare provider. Del City's strong demographics, including an average household income of approximately $80,000 within a 1-mile radius, further enhance the investment's appeal. The property's strategic location near I-35 and within a thriving healthcare hub in Oklahoma City, a city recognized for its robust economy and expanding job market, contributes to its long-term stability and potential for appreciation. The building itself is a state-of-the-art facility featuring 20 dialysis stations, including one private station. This investment offers a secure, high-yield return in a resilient sector of the real estate market, with the added benefit of built-in annual rent increases. The asking price is $4,340,764.