702-839-8737
2201 Mckown Dr, Norman, OK for Sale
Medical - FOR SALE
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2201 Mckown Dr
Norman, OK 73072
Outer Norman


HIGHLIGHTS

  • The property presents the opportunity to acquire a free-standing medical focused asset at a low price point, creating a manageable investment entry
  • In 2025, Wise Eye Associates joined Ascend Vision Partners, a premier ophthalmic management services organization backed by Chicago Pacific Founders.
  • The property features an average rental rate of $20.29/SF, providing an attractive basis while creating captive tenancy that discourages relocation.
  • The facility was features an attractive and modern aesthetic, resulting in a broad appeal for patients and providers and supporting pride of ownership
  • In 2025, Ascend Vision Partners executed a new long-term lease at the property, reinforcing the mission-critical nature of the asset to its operations
  • Leveraging the multi-tenant nature of the asset, all expenses can be passed through to the tenants, allowing an owner to properly care for thebuilding

OVERVIEW

Jennifer Stein Real Estate, Inc., exclusively represents ownership of the Wise Eye Associates facility (“Wise Eye” or the “property”) in the sale of their ophthalmic facility. The mission critical asset comprises 7,416 square feet, ideally situated within the Norman regional market, a well-established submarket anchored by the University of Oklahoma and supported by the broader Oklahoma City metropolitan area. Wise Eye Associates was founded in 1976 by Dr. Don Brashear, with Dr. Jackson Woodward joining shortly thereafter, establishing a long-standing presence in the Norman, Oklahoma community. For nearly five decades, the practice has been known for delivering high-quality eye care and advanced ophthalmic procedures with a patient-first approach. Today, under the leadership of Dr. Kim Wise, Wise Eye Associates continues its tradition of personalized care and clinical excellence. In 2025, Wise Eye Associates partnered with Ascend Vision Partners (“AVP”), joining a growing ophthalmic platform composed of 17 practices and 38 locations across Florida, Texas, and Oklahoma. Backed by private equity firm Chicago Pacific Founders, AVP provides its partner practices with strategic capital, operational support, and resources for continued expansion, all while preserving local clinical leadership, physician autonomy, and the patient-focused care that defines each practice’s legacy in their respective communities. The asset is anchored by Wise Eye’s ophthalmic clinic, which represents the dominant occupancy and income driver of the property. The remaining suite is occupied by a private law office, contributing a nominal 3% of total NOI under a freshly executed three-year lease. Upon closing of the transaction, the selected purchaser will assume the existing leases with Southeastern Eyecare Management, LLC and Matthew Tate Wise. Both leases are structured as triple-net and feature 3% annual rental escalations, full expense pass-throughs, along with financial reporting. Combined, the property has a total NOI of $151,610, resulting in an average rental rate of only $20.29 per square foot and a WALT of 11.3 years.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wise Eye Associates

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

39

LAND DETAILS

LAND ACRES

0.77 AC

LAND SF

33,541 SF

ZONING

Commercial

APN/PARCEL ID

R0139008

ASK ABOUT THIS PROPERTY

Collin HartERE Healthcare Real Estate AdvisorsMore Info
702-839-8737

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Collin HartERE Healthcare Real Estate AdvisorsMore Info
702-839-8737

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