411 W 3rd St - Medical FOR SALE


Elk City, OK 73644
$2,785,000 USD
407-557-3859
411 W 3rd St, Elk City, OK for Sale
$2,785,000 USD
Medical - FOR SALE
1/4
null | 7% Cap Rate

411 W 3rd St
Elk City, OK 73644


HIGHLIGHTS

  • Attractive CPI Increases Every Two Years, Allows for Profitable Exit Before Lease Renewal
  • 1st Build-to-Suit Clinic for the Brand in 2014, Absolute Net Lease | Passive Ownership Structure
  • Goldman Sach’s Acquired Xpress Wellness in 2024, Top 10 Investment Banks in the World, Xpress Wellness has 58 Locations & Growing
  • Strategically Located a Mile From Regional Hospital, Accessible Alternative for Non-Emergency Care
  • Certified Rural Health Clinic | 50% Local Market Share, Preferential Reimbursement Rates From Medicare and Medicaid

OVERVIEW

Absolute Net Lease medical office building leased to Xpress Wellness Urgent Care. Tenant executed an early lease extension in 2017 and currently has 7.5+ years remaining. The brand provides a range of high-quality, affordable, and convenient healthcare services to medically underserved communities and nursing home residents. Goldman Sachs acquired the Xpress Wellness platform in 2024, highlighting their dominance in the rural healthcare space. The acquisition will further assist with the brand's new market expansion plans. The lease features CPI increases every two years, which gives ownership the ability to sell the property before the end of the primary term for a profit. The facility is centrally positioned within the town and strategically located a mile from Great Plains Regional Medical Center.

FOR SALE DETAILS

PRICE

$2,785,000 USD

PRICE/SF

$623 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Xpress Wellness Urgent Care

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

-

APN/PARCEL ID

0170-00-003-007-0-000-00

ASK ABOUT THIS PROPERTY

Giovanni FigueiredoMarcus & MillichapMore Info
407-557-3859

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Giovanni FigueiredoMarcus & MillichapMore Info
407-557-3859

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.