2414 Shawnee RdMuskogee, OK 74403

Property Details for 2414 Shawnee Rd

Year built

1990

Lot size

0.58 AC

Property size (Sq ft)

8,031 SF

Property type

Retail properties

Property subtype

Office properties

Description

This exceptional investment opportunity presents a fee-simple, 8,031-square-foot freestanding medical office building in Muskogee, Oklahoma. Currently operating as a Veterans Affairs outpatient and mental health clinic, the property boasts a 100% occupancy rate with a single tenant under a net lease agreement. The lease commenced January 10, 2010, and has a remaining term of approximately 6.5 years, expiring September 29, 2030. Significant rent bumps are built into the lease, with increases of $0.83 per square foot in 2025 and an additional $2.00 per square foot in 2027. The property features 55 parking spaces and sits on a 0.58-acre lot. Built in 1990 and renovated in 2010 and 2020, the single-story building offers a strong net operating income (NOI) of $150,825, resulting in an attractive 8.75% cap rate. The asking price is $1,723,000, translating to $214.54 per square foot. The property enjoys a high-traffic location at the intersection of Shawnee Bypass and York Street, experiencing 29,700 vehicles per day, with an annual increase of 2,000 vehicles. Its proximity (3-5 miles) to the Jack C. Montgomery VA Regional Medical Center and regional benefit offices further enhances its desirability. The property's strong tenant, long-term lease, and built-in rent increases make this a compelling investment opportunity with significant future upside.

Location Insight

City

Muskogee

County

Muskogee

State

Oklahoma

Latitude

35.7707

Longitude

-95.3371

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