6116 S Lewis Ave - Drug Store FOR SALE


Tulsa, OK 74136- South Tulsa
$5,230,288 USD
619-297-0055
6116 S Lewis Ave, Tulsa, OK for Sale
$5,230,288 USD
Drug Store - FOR SALE
1/3
null | 6.25% Cap Rate

6116 S Lewis Ave
Tulsa, OK 74136
South Tulsa


HIGHLIGHTS

  • The property qualifies for accelerated depreciation due to it being a Qualified Indian Reservation Property (QIRP).
  • This CVS lease has over 14 years of guaranteed lease term before the tenant's next option to renew.
  • The current lease runs through January 31, 2041 with no landlord responsibilities whatsoever.
  • Less that 2 miles from Oral Roberts University, a 4-year university with over 7,000 students.
  • Approximately 204,210 residents within a 5-mile radius with the average household income ±$94K.
  • Directly across the street from Southern Hills CC, a golf course that has hosted 17 major championships including the 2022 PGA Championship.

OVERVIEW

We are pleased to offer for sale the CVS Pharmacy property located at 6116 S Lewis Avenue, Tulsa, OK 74316 (the “Property”). CVS has been successfully operating at this location since 2015 and has over 14 years of firm term remaining before the option periods. The lease is structured as an absolute triple net (NNN) lease, with no landlord responsibilities whatsoever. The Property benefits from an accelerated depreciation incentive due to it being a Qualified Indian Reservation Property (QIRP), providing investors with a unique tax advantage strategy for a drugstore asset. The site is located less than 2 miles from Oral Roberts University, a four-year institution with over 7,000 students, and supported by a dense, affluent population base of approximately 204,210 residents within five miles, with average household incomes of approximately $94,000. Directly across the street is Southern Hills Country Club, a nationally recognized private golf course that has hosted 17 major championships, including the 2022 PGA Championship. Additionally, the Property is located less than 0.5 mile from The Villages at Southern Hills, a senior-living and skilled-nursing community, further reinforcing long-term demand drivers for pharmacy services. Listed in conjunction with Brian Brockman, Bang Realty - Oklahoma Inc, 513-898-1551, wg@bangrealty.com, OK DRE Lic. 177814.

FOR SALE DETAILS

PRICE

$5,230,288 USD

PRICE/SF

$625 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Accelerated Deprec. Benefits No Rent Holiday

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

1.38 AC

LAND SF

59,895 SF

ZONING

CS

APN/PARCEL ID

32225-83-06-01410

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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