Address: 5196 South Yale Avenue, Tulsa, Oklahoma, United States 74135
Type: Net-Leased Professional Office / Medical Office
Cap Rate: 7.50%
Lease Type: Triple Net (NNN)
Annual Rent: $210,000
Net Operating Income: $210,000
Lease Term Remaining: 20 Years
Rental Increases: 1.0% Annually
Options: Three, Five-Year Options
Rentable Sq/Ft: 6,950 SF
Rent Sq/Ft: $30.22
Price Sq/Ft: $403
Lot Size: +/-0.48 Acres
The subject investment property is situated on South Yale Avenue, which boasts average daily traffic counts exceeding 56,700 vehicles, respectively. South Yale Avenue is intersects with Interstate 44 and East 51th Street which brings an additional 101,900 and 29,100 vehicles into the immediate area on average daily. There are more than 95,959 individuals residing within a three-mile radius of the property and more than 241,930 individuals within a five-mile radius.
The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, medical centers, and hotels all within close proximity of this property. Major medical centers include: Laureate Institute for Brain Research, Nephrology Specialists of Oklahoma, Warren Clinic Urgent Care, Fox Broermann Pediatric Dentistry, PediState – Pediatric Urgent Care, as well as many others. Accommodations in the immediate area include: Holiday Inn Express & Suites, Hilton Garden Inn, Double Tree by Hilton, and more. This Eastern Oklahoma Dental Institute property also benefits from being situated within a five-mile radius of several academic institutions. The most notable is Oral Roberts University, an interdenominational, comprehensive liberal arts university which has a total enrollment exceeding 4,000 students. Located approximately one mile from the subject property is Saint Francis Hospital, a 1,112-bed tertiary center, includes the region’s only children’s hospital and level IV neonatal intensive care unit, a 168-bed heart hospital and Tulsa’s leading trauma and emergency center. In 2014, Saint Francis Hospital opened an 8-story patient tower and emergency room, one of the largest recent medical additions in Tulsa. The $206 million project was 450,000 square feet of new construction and 50,000 square feet of renovation. Tulsa International Airport (TUL), the global maintenance headquarters for American Airlines, serves over 2,885,000 passengers annually and is located within a 10-mile radius from the subject property.
Tulsa is the second-largest city in Oklahoma and the 47th-most populous city in the United States. In 2006, Forbes magazine rated Tulsa as second in the nation in income growth, and one of the best cities in the country to do business with. There are 30 companies in Tulsa that employ more than 1,000 people locally, and small businesses make up more than 80% of the city’s companies. Though the oil industry has historically dominated Tulsa’s economy, efforts in economic diversification have created a base in the sectors of aerospace, finance, technology, telecommunications, high tech, and manufacturing. A number of substantial financial corporations are headquartered in Tulsa, the largest being the BOK Financial Corporation. As the second largest metropolitan area in Oklahoma and a hub for the growing Northeastern Oklahoma-Northwest Arkansas-Southwestern Missouri corridor, the city is also home to a number of the region’s most sophisticated law, accounting and medical practices. Healthcare accounts for more than 64,000 direct jobs in the Tulsa region for a direct total economic impact of $3.8 billion.
Broker of Record: Timothy Speck – License # 149994