For Sale
$5,790,663

1131 Sheridan Ave Oklahoma City, OK 73106

Downtown OKC, 36,928 SF, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional investment opportunity presents a two-unit office portfolio totaling 36,928 square feet in Oklahoma City's vibrant downtown area. The property boasts a prime location at 1131 and 1141 W Sheridan Ave, zip code 73106, situated on a 0.9-acre lot. Both units are currently 100% occupied under net leases with over nine years remaining on each lease, ensuring long-term stability and predictable cash flow. The leases include rent escalators, providing a hedge against inflation and operating expense increases. The strong tenant commitment is further evidenced by a government tenant's option to expand into available space at existing rates. The property's location benefits from significant growth potential within a developing area of Oklahoma City. An undeveloped parcel of land, used as a parking lot, is included in the tenant agreements. The portfolio offers a compelling 8.00% cap rate and a net operating income (NOI) of $463,253, with an asking price of $5,790,663. The property is classified as Creative, Executive, and Traditional office space, making it suitable for a diverse range of tenants. Detailed financial information, including the rent schedule and NOI breakdown, is available upon request. This is a rare opportunity to acquire a high-performing, stable investment in a rapidly growing market.

Highlights

  • 36,928 square feet of leasable office space.
  • Over nine years remaining on both leases.
  • Built-in rent escalations protect against inflation and operating expense increases.
  • Excellent growth potential in a rapidly developing area of Oklahoma City.
  • Ample parking provided via an adjacent undeveloped lot.
  • Government tenant holds an expansion option at current rates.

Property Details for 1131 Sheridan Ave

Property type
Office properties, Office space
Square Feet
36,928 SF
Lot Size (sq. ft)
39,204 SF

Location Insight

City
Oklahoma City
County
Oklahoma
State
Oklahoma
Latitude
35.4667471
Longitude
-97.5317212

FAQs

What type of property is this?
Office property - Downtown OKC, 36,928 SF, 100% Occupied
Where is the office property located?
The property is located at 1131 Sheridan Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $5,790,663.
What are key features of this property?
This property features: 36,928 square feet of leasable office space.; Over nine years remaining on both leases.; Built-in rent escalations protect against inflation and operating expense increases.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
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1131 Sheridan Ave
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