Office Warehouse

601 Hamilton Dr

Listing Price: $8,500,000

Cap Rate
7.49%
Gross SF
167,700
Price/Gross SF
$50.69
Lot Size
16.00 acres
Year Built
1982
Rentable SF
167,700

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire The IronWolf Building, a longstanding industrial/office flex asset located at 601 Hamilton Drive in Noble, Oklahoma. Built in 1982, this multi-tenant property consists of 167,700 square feet situated on approximately 16 acres of land in an area with some of the highest growth and recovery rates in Oklahoma. At 100% occupancy, this multi-use property features four National/Regional credit tenants with long-term rental histories at the site. Given its location and size, the subject asset benefits from excellent relationships with some of the areas largest employers including The University of Oklahoma and Hitachi, both of which are long-term tenants. The property features 15 dock high doors, 3 grade level doors, and 26-30 clear heights.

Located just 350 yards from Norman, OK, the subject asset is situated in Noble, Oklahoma - part of the Southeast Outlying Industrial sub-market of the Greater Oklahoma City Metropolitan area. The property's sub-market boasts a 99.3% industrial occupancy rate with average rental rates of $6.87 per SF (CoStar). As of 2020, the IronWolf Buildings four on-site tenants pay an average of $5.06 per SF on modified gross and full-service leases (or approx. $3.35 NNN). The subject assets accessible location coupled with the push towards real estate de-densification (via the Covid-19 pandemic) shows strong optimism for the assets desirability and rental growth.

Today, Noble is an up-and-coming residential and business community that embodies the workman's spirit of Oklahoma. Its growing population enjoys short commutes to Norman, Tinker Air Force Base, and the entire greater Oklahoma City Metropolitan area. The IronWolf Building represents the marriage of industry and history: Its design and tenants connect the industrial history of Noble, OK with the tech and development of the future. Whats more, the IronWolf Buildings connections with Noble, Norman, and the 22,000-student University of Oklahoma present exciting opportunities in the states future.

The Oklahoma City metro area is home to 1.4 million residents, two Fortune 500 companies, and an economic base in a wide range of industries. Composed of seven counties (Oklahoma, Grady, Canadian, Cleveland, Logan, McClain, and Lincoln), this metro area lays claim to the states capital of Oklahoma City, the famed Thunder NBA team, and a number of triple-A and semi-professional sports teams. The Oklahoma City metro is the fastest-growing area of the state, with 76,000 more people and 33,000 more households expected to call this area home by 2025.








Investment Highlights

  • National & Regional credit tenants with long term rental histories
  • Fully Leased Multi-Tenant Industrial Warehouse & Office Flex
  • 167,700 Total Square Feet on approx. 16 Acres
  • $1.7 million in Tenant-completed facility upgrades
  • 100% HVAC Warehouse & Ample Parking
  • Rich connections and proximity to The University of Oklahoma & Norman, OK

Exclusively Listed By

Financing By

Listing Price: $8,500,000

Cap Rate
7.49%
Gross SF
167,700
Price/Gross SF
$50.69
Lot Size
16.00 acres
Year Built
1982
Rentable SF
167,700

Investment Highlights

  • National & Regional credit tenants with long term rental histories
  • Fully Leased Multi-Tenant Industrial Warehouse & Office Flex
  • 167,700 Total Square Feet on approx. 16 Acres
  • $1.7 million in Tenant-completed facility upgrades
  • 100% HVAC Warehouse & Ample Parking
  • Rich connections and proximity to The University of Oklahoma & Norman, OK

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire The IronWolf Building, a longstanding industrial/office flex asset located at 601 Hamilton Drive in Noble, Oklahoma. Built in 1982, this multi-tenant property consists of 167,700 square feet situated on approximately 16 acres of land in an area with some of the highest growth and recovery rates in Oklahoma. At 100% occupancy, this multi-use property features four National/Regional credit tenants with long-term rental histories at the site. Given its location and size, the subject asset benefits from excellent relationships with some of the areas largest employers including The University of Oklahoma and Hitachi, both of which are long-term tenants. The property features 15 dock high doors, 3 grade level doors, and 26-30 clear heights.

Located just 350 yards from Norman, OK, the subject asset is situated in Noble, Oklahoma - part of the Southeast Outlying Industrial sub-market of the Greater Oklahoma City Metropolitan area. The property's sub-market boasts a 99.3% industrial occupancy rate with average rental rates of $6.87 per SF (CoStar). As of 2020, the IronWolf Buildings four on-site tenants pay an average of $5.06 per SF on modified gross and full-service leases (or approx. $3.35 NNN). The subject assets accessible location coupled with the push towards real estate de-densification (via the Covid-19 pandemic) shows strong optimism for the assets desirability and rental growth.

Today, Noble is an up-and-coming residential and business community that embodies the workman's spirit of Oklahoma. Its growing population enjoys short commutes to Norman, Tinker Air Force Base, and the entire greater Oklahoma City Metropolitan area. The IronWolf Building represents the marriage of industry and history: Its design and tenants connect the industrial history of Noble, OK with the tech and development of the future. Whats more, the IronWolf Buildings connections with Noble, Norman, and the 22,000-student University of Oklahoma present exciting opportunities in the states future.

The Oklahoma City metro area is home to 1.4 million residents, two Fortune 500 companies, and an economic base in a wide range of industries. Composed of seven counties (Oklahoma, Grady, Canadian, Cleveland, Logan, McClain, and Lincoln), this metro area lays claim to the states capital of Oklahoma City, the famed Thunder NBA team, and a number of triple-A and semi-professional sports teams. The Oklahoma City metro is the fastest-growing area of the state, with 76,000 more people and 33,000 more households expected to call this area home by 2025.








Exclusively Listed By

Financing By

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