525 W 91st St - Sports and Entertainment FOR SALE


Tulsa, OK 74132
$2,870,000 USD
312-240-0162
525 W 91st St, Tulsa, OK for Sale
$2,870,000 USD
Sports and Entertainment - FOR SALE
1/4
null | 7.25% Cap Rate

525 W 91st St
Tulsa, OK 74132


HIGHLIGHTS

  • SafeSplash Corporate Lease Guaranty
  • 12+ Year NNN Lease
  • 2.00% Rental Increases Annually
  • Affluent, Rapidly Growing Market
  • Large Parcel Offers Strong Residual Value
  • Adjacent to Tulsa Riverside Airport

OVERVIEW

Northmarq, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the fee simple interest in the single-tenant swim school located at 525 West 91st Street in Tulsa, Oklahoma (the “Property”). The Property is fully leased to SafeSplash Swim School Parker, LLC, doing business as Miller Swim School with a full corporate guaranty by both SafeSplash Holdings, LLC and SafeSplash Brands, LLC. SafeSplash (the Lease Guarantor) is the world’s largest operator and franchisor of swim schools with over 250 facilities across 32 states. The Miller Swim School brand has been serving the Tulsa community for over sixty years and currently has four locations in the Tulsa metro area. The Property is operating under a 15-year NNN lease with more than 12 years remaining, and two, five-year option periods. It features 2.00% annual rental increases and is highly-passive with Landlord responsible for the outer walls and foundation only – Tenant is responsible for everything else, including the maintenance, repair, and replacement of the roof. Positioned roughly 8 miles south of downtown Tulsa, the Property is located on the Tulsa/Jenks city boundary – Jenks is Tulsa’s most-desired and fastest-growing suburb (and one of the fastest-growing cities in all of Oklahoma). The Property is adjacent to several schools in the Jenks School District, the #1 public school district in the state and ranked in the top 200 of public school districts nationwide (out of 10,932 total districts). Additionally, it is next to the Tulsa Riverside Airport (the busiest airport in Oklahoma) and within five miles of the new Tulsa Premium Outlets, the Oklahoma Aquarium, River Spirit Casino Resort and Tulsa Hills Shopping Center, among the most-visited destinations in Oklahoma.

FOR SALE DETAILS

PRICE

$2,870,000 USD

PRICE/SF

$356 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

SafeSplash Swim School DBA Miller Swim School

PROPERTY TYPE

Sports and Entertainment

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.58 AC

LAND SF

68,949 SF

ZONING

CG

APN/PARCEL ID

70009-82-14-77010

ASK ABOUT THIS PROPERTY

Brandon DuffNorthmarqMore Info
312-240-0162

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Brandon DuffNorthmarqMore Info
312-240-0162

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