3100 29Th StDel City, OK 73115

Property Details for 3100 29Th St

Lot size

1.56 AC

Property size (Sq ft)

9,028 SF

Property type

Medical offices

Property subtype

Medical centers

APN

20-193-1000

APU

201931000

Description

This exceptional Class A medical office building presents a compelling investment opportunity. Located in Del City, Oklahoma, at a hard corner on SE 29th Street, this 8,637 square foot property boasts a 15-year net lease with Physicians Choice Dialysis, commencing September 1, 2021, and expiring August 31, 2039. The lease includes three, 5-year renewal options and features a 3% annual rent increase, ensuring consistent income growth. The building, constructed in 2022, is a single-tenant occupancy with 100% occupancy, generating a substantial net operating income (NOI) of $314,705 and a 7.25% cap rate. The property sits on a 1.56-acre lot and benefits from its prime location near Integris Health Southwest Medical Center, a major healthcare provider. Del City's strong demographics, including an average household income of approximately $80,000 within a 1-mile radius, further enhance the investment's appeal. The property's strategic location near I-35 and within a thriving healthcare hub in Oklahoma City, a city recognized for its robust economy and expanding job market, contributes to its long-term stability and potential for appreciation. The building itself is a state-of-the-art facility featuring 20 dialysis stations, including one private station. This investment offers a secure, high-yield return in a resilient sector of the real estate market, with the added benefit of built-in annual rent increases. The asking price is $4,340,764.

• CAP approach

  CAP return

  Valuation

  6%

  $1,550,850

  6.5%

  $1,431,553

  7%

  $1,329,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,086,249

  Geo Method

  $1,086,249

• Alternative Use

  Use

  Valuation

  Residential

  $1,775,126

  Hospitality

  $1,626,006

  Educational

  $1,352,818

  Medical

  $1,399,344

  Retail

  $2,104,384

Location Insight

City

Del City

County

Oklahoma

State

Oklahoma

Latitude

35.4346

Longitude

-97.4587

CBSA code

36420

CBSA name

OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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