701 W Houston St - Drug Store FOR SALE


Broken Arrow, OK 74012
$1,995,000 USD
918-724-8955
701 W Houston St, Broken Arrow, OK for Sale
$1,995,000 USD
Drug Store - FOR SALE
1/1
null | 8.5% Cap Rate

701 W Houston St
Broken Arrow, OK 74012


OVERVIEW

Walgreens-occupied freestanding 12,934 SF retail building with drive-thru on a 1.13-acre hard-corner lot in Broken Arrow. The property offers strong visibility, ample parking, excellent access within a high-traffic corridor, and a well-established commercial corridor. The current lease termination date is October 31st, 2028. The lease allows for four more five-year options. Below-market rent allows for potentially significantly higher NOI in the future if Walgreens chooses to vacate. The current landlord replaced the roof in 2015 and will spend (or credit) up to $50,000 on parking lot improvements upon the successful closing of the transaction.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$154 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Walgreens | 81st & Elm BA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.14 AC

LAND SF

49,658 SF

ZONING

CG

APN/PARCEL ID

78725-84-15-65674

ASK ABOUT THIS PROPERTY

Dick AlabackMCP / McGraw Commercial PropertiesMore Info
918-724-8955

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

Dick AlabackMCP / McGraw Commercial PropertiesMore Info
918-724-8955

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