4140 SE Adams Rd - Medical FOR SALE


Bartlesville, OK 74006
$3,500,000 USD
918-269-6093
4140 SE Adams Rd, Bartlesville, OK for Sale
$3,500,000 USD
Medical - FOR SALE
1/6
null | 7.5% Cap Rate

4140 SE Adams Rd
Bartlesville, OK 74006


HIGHLIGHTS

  • NNN Lease Structure with Attractive Rental Increases
  • Tenant Operational Strength
  • Below Market Rents
  • Low Vacancy Market & Sticky Location
  • Fortune 200 Company Presence
  • Ideal Visibility and Access Directly Off Highway 75

OVERVIEW

Northmarq is pleased to exclusively offer the opportunity to acquire the fee simple interest in a 2-tenant healthcare property located in Bartlesville, Oklahoma (Tulsa MSA). The property is comprised of 2 tenants: Tulsa Bone & Joint and Nerve Renewal Neuropathy Clinic. Tulsa Bone & Joint is the anchor tenant and the largest group of orthopedic specialists in the Tulsa area. Tulsa Bone & Joint has been a regional leader in Tulsa for over 23 years with over 5 locations currently in operation and 1 additional location scheduled to open later this year. Tulsa Bone & Joint is a leading Orthopedic practice in Bartlesville as they are one of two practices in the market offering orthopedic surgery. Nerve Renewal Neuropathy Clinic is a premier neuropathy clinic that offers innovative, non-invasive and non-addictive nerve pain treatments across Oklahoma. Nerve Renewal is the only practice in Bartlesville that solely focuses on nerve pain treatments. Both tenants are subject to a NNN lease structure with attractive annual rental increases. Tulsa Bone & Joint has 5 years of term remaining with 2% annual escalations along with 2, 5yr renewal options. Nerve Renewal just moved into the facility and signed a 10-year lease with 3% annual escalations over the life of the term. Tulsa Bone & Joint has recently extended their lease term for an additional 5 years, proving their commitment to this space. The property is advantageously located directly off Highway 75 and Southeast Washington Blvd, two of the most heavily traveled roads in Bartlesville, providing extremely easy access and superior visibility. Traffic counts are exceptional with over 21,000 VPD traveling these two roads. The property is located just north of Tulsa, the second largest city in Oklahoma. The surrounding area has strong demographics with a population of 43,084 and an average household income of $88,098 within a 5-mile radius of the property.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$265 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tulsa Bone & Joint

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

65

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,916 SF

ZONING

AA1

APN/PARCEL ID

0061963

ASK ABOUT THIS PROPERTY

Jeff MatulisNorthmarqMore Info
918-269-6093

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Jeff MatulisNorthmarqMore Info
918-269-6093

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