702 Main StJenks, OK 74037

Property Details for 702 Main St

Year built

2012

Lot size

1.10 AC

Property size (Sq ft)

23,804 SF

Property type

Day care centers & nurseries

Property subtype

Retail properties

Description

This exceptional investment opportunity presents a 23,804 square foot, two-story retail building in Jenks, Oklahoma. Located at 702 E Main St, this property boasts a strong 8.24% cap rate and a Net Operating Income (NOI) of $451,294. Currently 86% occupied by four tenants across five units, with annual rent bumps, the property offers significant upside potential. Built in 2012, the building features a modern design and is situated on a 1.1-acre lot with convenient access to a 525-space covered parking garage. The property benefits from its prime location in the affluent 74037 zip code, known for average household incomes exceeding $125,000, and its proximity to major shopping centers, Jenks High School, the Oklahoma Aquarium, and major highways. The Jenks submarket is experiencing explosive growth, with over $1 billion in development projects underway. 75% of the square footage is occupied by ECI and Inner Circle Autism Network, both exhibiting strong financials and long-term commitments. The owner is actively pursuing leases for the remaining 14% vacancy. This multi-tenant property, with its diverse mix of tenants and lease expirations, presents a compelling investment opportunity in a thriving market. The asking price is $5,480,000, reflecting a price per square foot of $230.21. The property is zoned for commercial use and includes a modified lease type. The property's location near the Tulsa Premium Outlets (projected 6.5 million annual visitors) further enhances its investment appeal. This is a fee-simple interest sale.

Location Insight

City

Jenks

County

Tulsa

State

Oklahoma

Latitude

36.0226

Longitude

-95.9624

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