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5524 E 12th St
72,428 SF Industrial Unit Offered at £3,546,555 in Tulsa, OK 74112
Executive Summary
The offering consists of a single tenant 72,428 SF industrial masonry warehouse, renovated in 2017. The property is conveniently located 6 miles from Tulsa International Airport, just 5 miles from Downtown Tulsa and less than a mile from the Tulsa State Fairgrounds. The current tenant is one of the largest furniture retailers in the state of Oklahoma and family owned for almost 50 years. This property is critical and serves as a distribution center to its numerous retail locations from OKC and Enid to Tulsa. The tenant is in a 10 yr lease with 8 ½ years remaining and 2% annual escalation increases YOY throughout the lease. This investment boasts a great opportunity for a secure investment with value add in the future in a rapidly growing market.
Property Facts
1 Unit Available
Unit A
| Unit Size | 72,428 SF | Sale Type | Investment |
| Price | £3,546,555 | Net Initial Yield | 7.08% |
| Price Per SF | £48.97 | NOI | £251,099.24 |
| Unit Use | Industrial |
| Unit Size | 72,428 SF |
| Price | £3,546,555 |
| Price Per SF | £48.97 |
| Unit Use | Industrial |
| Sale Type | Investment |
| Net Initial Yield | 7.08% |
| NOI | £251,099.24 |
Description
The offering consists of a single tenant 72,428 SF industrial masonry warehouse, renovated in 2017. The property is conveniently located 6 miles from Tulsa International Airport, just 5 miles from Downtown Tulsa and less than a mile from the Tulsa State Fairgrounds. The current tenant is one of the largest furniture retailers in the state of Oklahoma and family owned for almost 50 years. This property is critical and serves as a distribution center to its numerous retail locations from OKC and Enid to Tulsa. The tenant is in a 10 yr lease with 8 ½ years remaining and 2% annual escalation increases YOY throughout the lease. This investment boasts a great opportunity for a secure investment with value add in the future in a rapidly growing market.
Sale Notes
- Strong Regional Tenant
- 10 Yr NNN Lease with 8 ½ Yrs Remaining
- 2% Annual Rent Escalations
CAP Rate
6.54% Currently
7.1% Average Over Term
7.7% On Last Year of Term
The offering consists of a single tenant 72,428 SF industrial masonry warehouse, renovated in 2017. The property is conveniently located 6 miles from Tulsa International Airport, just 5 miles from Downtown Tulsa and less than a mile from the Tulsa State Fairgrounds. The current tenant is one of the largest furniture retailers in the state of Oklahoma and family owned for almost 50 years. This property is critical and serves as a distribution center to its numerous retail locations from OKC and Enid to Tulsa. The tenant is in a 10 yr lease with 8 ½ years remaining and 2% annual escalation increases YOY throughout the lease. This investment boasts a great opportunity for a secure investment with value add in the future in a rapidly growing market.
Amenities
- Bus Route
- Fenced Lot
- Security System
- Yard
zoning
| Zoning Code | IM |
| IM |
-
Dustin Eller -
OKRE Commercial Advisors
Presented by
5524 E 12th St
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