615 32nd St Muskogee, OK 74401-5012

Property Details for 615 32nd St

Year built

2002

Lot size

1.43 lot acres

Property size

7,076 SF

Zone code

E1

Property type

Medical offices

Property subtype

Medical centers

APN

1855-28-002-002-3-102-00

APU

185528002002310200

Description

This exceptional investment opportunity presents a fee-simple interest in a 7,076 square foot medical office building in Muskogee, Oklahoma. The property, built in 2022, is situated on a 0.78-acre lot at 615 S 32nd St, 74401, boasting a prime location with high visibility and traffic counts exceeding 29,000 vehicles daily. Currently 100% occupied by Utica Park Clinic under a 10-year NNN lease (commencing April 14, 2023, and expiring April 13, 2033), this investment offers a secure, long-term income stream. The lease includes a corporate guarantee from AHS Hillcrest Healthcare System, LLC, and features attractive 2% annual rent bumps, along with one 10-year renewal option. The property's strong tenant and lease structure contribute to a compelling 7.00% cap rate and a net operating income (NOI) of $132,947. The building's proximity to major medical facilities, including Saint Francis Hospital Muskogee and Cornerstone Hospital Muskogee, further enhances its value and potential for long-term growth within a dense medical corridor. The asking price is $1,900,000, translating to a price per square foot of $268.51. This is a rare opportunity to acquire a high-quality, single-tenant medical office building with a strong tenant, excellent lease terms, and a superior location.

Location Insight

City

Muskogee

County

Muskogee

State

Oklahoma

Longitude

-95.4031

Latitude

35.7488

CBSA code

34780

CBSA name

MUSKOGEE, OK MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments