7295 Us Highway 270 McAlester, OK 74501
- Commercial real estate
- 15,964 SF
Current Use by Public Records
- Commercial real estate
Property Details for 7295 Us Highway 270
- Year built
- 2007
- Property size
- 15,964 SF
- Property type
- Commercial real estate
Description
This exceptional 14-unit townhome complex, known as Country Plaza, presents a compelling investment opportunity. Located at 7295 E US Hwy 270 in McAlester, Oklahoma, this well-maintained property boasts a substantial 15,964 square feet across five, two-story buildings, built in 2007. The property sits on a generous 87,120 square foot lot and offers a strong 7.8% cap rate, generating a net operating income (NOI) of $95,000, with an asking price of $1,750,000 ($110/sq ft and $125,000/unit). Each unit includes either a one- or two-car garage, contributing to consistently high occupancy rates (less than 2% vacancy historically). The property benefits from individually metered electricity, allowing for cost pass-through to tenants, increasing NOI potential. The seller is open to owner financing up to $500,000. Situated less than four miles east of McAlester city limits, the complex enjoys convenient access to local amenities and employment centers in the Alderson Township. The McAlester area exhibits steady population growth, fueled by a robust local economy encompassing healthcare, manufacturing, and retail sectors. This translates to consistent demand for quality rental housing, ensuring long-term tenant stability. The area offers a lower cost of living than national averages, combined with a small-town atmosphere and access to McAlester's urban conveniences, including shopping, dining, healthcare, and educational opportunities. The proximity to Eufaula Lake provides additional recreational appeal. Furthermore, the area benefits from various state and local incentives for businesses, including Opportunity Zones and tax exemptions, creating a favorable investment climate. This turnkey investment requires no immediate capital expenditures, making it an attractive opportunity for discerning investors.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- McAlester
- County
- Pittsburg
- State
- Oklahoma
- Longitude
- -95.7710158
- Latitude
- 34.9346833
