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Arda Building - Value-Add Auction Investment 1222 10th St

14,761 SF 100% Leased Office Building Woodward, OK 73801 For Sale

Investment Highlights

  • Multi-Tenant Value-Add Office Investment – Main & Main Downtown Location
  • Short-Term Leases – Opportunity to Increase Value Through Below Market Rents
  • Delivered Free & Clear of Debt – Huge Upside Opportunity
  • Government-backed State of Oklahoma Tenants – Long-Term Stability
  • US Hwy 270 (Oklahoma Ave) and State Highway 34 (9th St) – Combined Traffic Counts of 30,700 CPD (Cars Per Day)

Executive Summary

Charter Realty is excited to present qualified investors with an exceptional value-add opportunity to acquire a downtown office investment property in Woodward, OK. The property is 89% occupied and primarily leased to the State of Oklahoma. The short-term leases allow an investor the flexibility to reposition the property with increased rents while collecting cash flow from strong, government tenants.
Located on the hard corner location of US Hwy 270 (Oklahoma Ave) and State Highway 34 (9th St), this property benefits from its position on the premier commercial real estate intersection in the city with a combined traffic counts of 30,700 cars per day. US Hwy 270 provides the main travel corridor from Oklahoma City, the state capital, to Northwest Oklahoma and the panhandle region – with cars travelling right in front of this property. The property’s parking lot also has features direct access to State Highway 34, which runs 188 miles from Oklahoma’s southern border with Texas to its northern border with Kansas.
Nearby offices include the city and county government departments as well as Woodward News. Nearby retail tenants include Walgreens, AutoZone, Western Drug, Dairy Queen, and Ace Hardware. Additional traffic draws on these prominent thoroughfares include McDonalds, Walmart Supercenter, Arby’s, Carl’s Jr, Dollar General, Dollar Tree, NAPA Auto, Candlewood Suites, Comfort Inn, Holiday Inn, and Hampton Inn.
This is a rare opportunity to purchase a truly value-add opportunity on prime, downtown real estate, offering investors long-term security and potential for significant returns.

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income £104,971 £7.11
Other Income - -
Vacancy Loss - -
Effective Gross Income £104,971 £7.11
Taxes - -
Operating Expenses - -
Total Expenses £65,676 £4.45
Net Operating Income £39,295 £2.66

Financial Summary (Actual - 2023)

Gross Rental Income
Annual £104,971
Annual Per SF £7.11
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £104,971
Annual Per SF £7.11
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual £65,676
Annual Per SF £4.45
Net Operating Income
Annual £39,295
Annual Per SF £2.66

Property Facts

Sale Type
Investment
Sale Condition
Development Sale
Property Type
Office
Building Size
14,761 SF
Building Class
C
Year Built
1956
NOI
£39,295
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
4,920 SF
Building FAR
0.66
Lot Size
0.52 AC

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Rick Philips Insurance LLC
  • Finance and Insurance
  • 1,180 SF
  • £9.15
  • Full Service Gross
  • -
  • State of Oklahoma Department of Mental Health & Su
  • Administrative and Support Services
  • 10,159 SF
  • £8.41
  • Full Service Gross
  • Jun 2025
  • Western Oklahoma Workforce Development Board
  • Administrative and Support Services
  • 1,822 SF
  • £5.02
  • Full Service Gross
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Rick Philips Insurance LLC Finance and Insurance 1,180 SF £9.15 Full Service Gross -
State of Oklahoma Department of Mental Health & Su Administrative and Support Services 10,159 SF £8.41 Full Service Gross Jun 2025
Western Oklahoma Workforce Development Board Administrative and Support Services 1,822 SF £5.02 Full Service Gross -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0001-00-082-007-0-000-00
Land Assessment
£3,583
Improvements Assessment
£63,522
Total Assessment
£67,105
  • Listing ID: 33537575

  • Date on Market: 16/10/2024

  • Last Updated:

  • Address: 1222 10th St, Woodward, OK 73801

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