908 E 12th Avenue,Stillwater, OK 74074
Stillwater, OK 74074
Description
INVESTMENT OPP CURRENTLY LEASED AT $6,150/MO | 7.25% CAP RATE | 3% ANNUAL RENT ESCALATOR | APPROX. 3 YRS REMAINING ON LEASE Rare investment opportunity in the heart of Stillwater offering established income today and significant long-term flexibility. The property is currently occupied under a triple-net (NNN) lease and has a 12+ month history of consistent rent payments, providing buyers with an established tenant and income stream. The property has also benefited from recent improvements, including a brand-new suppression system and additional work completed to address current code requirements, adding meaningful value for an incoming owner. Situated on approximately 2 acres near major employment and education, this unique property offers more than 6,000 SF of flexible space with 20 bedroom / 10 bathrooms. Originally constructed for group housing use, the property features expansive common areas, multiple offices, large gathering spaces, a commercial-style kitchen area, extensive parking, outdoor patio space, mature trees, flower beds, and a park-like setting. Beyond the existing lease, the property’s size, configuration, location, and acreage provide extensive long-term optionality for an investor. The versatile floor plan may accommodate a variety of future uses or repositioning strategies, subject to buyer verification of zoning, licensing, occupancy requirements, and intended use. Substantial outdoor space includes garden areas, open green space, and room for a variety of recreational or operational needs. With an existing NNN lease, a proven history of consistent rent payments, contractual annual rent growth, recent property improvements, and significant flexibility for future use, this property offers a compelling combination of current cash flow and long-term investment potential in Stillwater. Buyer to verify all information, measurements, lease terms, financial information, zoning, permitted uses, code compliance, licensing, and occupancy requirements.
Details
| MLS # | 1244905 |
|---|---|
| Listing Type | For Sale |
| Style | Investment |
| Sub-Type | Resale |
| Status | Active |
| Year | 1987 |
| Days On Site | 20 |
| Listing Provided By | Sage Sotheby's Realty | Sierra Snowden |
Features
| SQ Feet | 6,449 |
|---|---|
| Acreage | 2.00 |
Parking
| Parking Features | Concrete |
|---|
Taxes
| Okc Tax Amount | 3550.0000 |
|---|---|
| Tax Block | 24 |
| Tax Lot | 33-34 |
Area Information
| State | OK |
|---|---|
| County | Payne |
| City | Stillwater |
| Zip Code | 74074 |
| School District | Payne |
| Listing VS Median (in 74074) | |
Price: $995,000 low | high Med: $284,835 sqft: 6,449 low | high Med: 1,158 $ / sqft: $154 low | high Med: $246 On site: 20 low | high Med: 222 | |
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Learn More About This Property
| State | OK |
|---|---|
| County | Payne |
| City | Stillwater |
| Zip Code | 74074 |
| School District | Payne |
| Listing VS Median (in 74074) | |
Price: $995,000 low | high Med: $284,835 sqft: 6,449 low | high Med: 1,158 $ / sqft: $154 low | high Med: $246 On site: 20 low | high Med: 222 | |
