1300 Broadway AveAda, OK 74820

Property Details for 1300 Broadway Ave

Year built

1971

Lot size

3.09 AC

Property size (Sq ft)

680 SF

Property type

Office buildings

APN

0530-28-004-006-0-021-00

APU

53028004006002100

Description

This exceptional investment opportunity presents a 12,000-square-foot warehouse located at 1300 N Broadway Ave, Ada, OK 74820. The property is currently 100% occupied by United Rentals, Inc., the nation's largest equipment rental company, under a net lease agreement. The lease, commenced March 31, 2022, has a remaining term of approximately 2.4 years, with a five-year option. Annual rent increases are tied to the Consumer Price Index (CPI), providing built-in protection against inflation. The asking price is $1,245,000, representing a compelling cap rate of 7.25% based on a current Net Operating Income (NOI) of $90,233. Built in 1980 and renovated in 2011, this single-building property sits on a 3.09-acre lot and benefits from a prime location with high visibility on North Broadway Avenue, boasting over 10,000 vehicles passing daily. The property's strategic proximity to a recently upgraded Holcim Cement Plant and numerous national retailers, including Home Depot, Starbucks, Chick-fil-A, and Walmart, further enhances its value and potential for long-term growth. This is a rare opportunity to acquire a stable, high-performing asset with a strong corporate tenant and significant upside potential. The property offers minimal landlord responsibilities, making it an ideal investment for passive income seekers. The tenant's strong financial position, as a publicly traded company with a substantial market capitalization, provides significant security and confidence in the investment.

• CAP approach

  CAP return

  Valuation

  6%

  $116,671

  6.5%

  $107,696

  7%

  $100,004

• Comparable approach

  Method

  Valuation

  Relative Method

  $81,818

  Geo Method

  $81,818

• Alternative Use

  Use

  Valuation

  Residential

  $133,543

  Hospitality

  $122,325

  Educational

  $101,773

  Medical

  $105,273

  Retail

  $158,313

Location Insight

City

Ada

County

Pontotoc

State

Oklahoma

Latitude

34.7875

Longitude

-96.6777

CBSA code

10220

CBSA name

ADA, OK MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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