Office

MacArthur Office Building

13166 N MacArthur, Oklahoma City, OK 73142

Listing Price: $1,350,000

Cap Rate
8.51%
Gross SF
4,403
Rentable SF
4,403
Price/Gross SF
$306.61
Lot Size
0.28 acres
Year Built
2018

Investment Overview

Excellent opportunity in the Preston Park Office Park to buy a unique multi-tenant office building with first generation tenants in Northwest Oklahoma City. Both tenants customized the space to meet the needs and signed substantial leases with renewal options. Edward Jones signed a five-year lease which continues until February 2024 with renewal options at market rate. Shamrock Bank signed a three-year lease that included amortized Tenant Improvements thus increasing the net operating income for the first three years.

The lease is a triple-net lease with the Tenant paying all expenses except the water. The Seller estimates the monthly water bill at $50.00. Included in the triple-net charges is the association dues which pay for the parking lot, the water feature, and common area landscaping. The current taxes for 2019 were $3,960.00 but are expected to increase to $17,750.00 depending on the purchase price of the building, as it will likely be reassessed. The building currently has a one-year warranty which should end in approximately six months, or by the end of 2020.



Investment Highlights

  • 1st Generation Tenants with Custom Build-Out
  • Net Operating Income of $114,258
  • 8.51% Cap Rate
  • 100% Rent Received During Coronavirus Downturn
  • 1.58 DSCR
  • 11.92% Cash-on-Cash Return

Exclusively Listed By

Listing Price: $1,350,000

Cap Rate
8.51%
Gross SF
4,403
Rentable SF
4,403
Price/Gross SF
$306.61
Lot Size
0.28 acres
Year Built
2018

Investment Highlights

  • 1st Generation Tenants with Custom Build-Out
  • Net Operating Income of $114,258
  • 8.51% Cap Rate
  • 100% Rent Received During Coronavirus Downturn
  • 1.58 DSCR
  • 11.92% Cash-on-Cash Return

Investment Overview

Excellent opportunity in the Preston Park Office Park to buy a unique multi-tenant office building with first generation tenants in Northwest Oklahoma City. Both tenants customized the space to meet the needs and signed substantial leases with renewal options. Edward Jones signed a five-year lease which continues until February 2024 with renewal options at market rate. Shamrock Bank signed a three-year lease that included amortized Tenant Improvements thus increasing the net operating income for the first three years.

The lease is a triple-net lease with the Tenant paying all expenses except the water. The Seller estimates the monthly water bill at $50.00. Included in the triple-net charges is the association dues which pay for the parking lot, the water feature, and common area landscaping. The current taxes for 2019 were $3,960.00 but are expected to increase to $17,750.00 depending on the purchase price of the building, as it will likely be reassessed. The building currently has a one-year warranty which should end in approximately six months, or by the end of 2020.



Exclusively Listed By

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