Broken Bow, OH - MyEyeDr. Multi

$2,100,000

511 S Park Drive, Broken Bow, OK 74728

For Sale

Retail

Active

Last Updated: 03/13/2024

Details:

Cap Rate: 7.58%

NOI: $159,192

Building Size: 10,900 sqft

Lot Area: 0.5 acres

Occupancy: 100%

Year Built: 2017

Offered by

Michael Berk

First Vice President

SRS Capital Markets

#GA Lic No. 385824

Request Info to Unlock

Patrick Nutt

Sr Managing Principal & Co-Head of National Net Lease

SRS Capital Markets

#FL License No. BK3120739

Request Info to Unlock

Description:

• MED Southwest, PLLC, dba MyEyeDR., has 3 years remaining on their initial lease term with two 7-year options to extend
• Recent construction - built in 2017 and includes a tenant investment from MyEyeDr. of more than $1.2M in property upgrades to this building, demonstrating their long-term commitment to this site
• The lease features 10% rental increases at the beginning of each option, generating NOI and hedging against inflation
• American Cardiology, LLC has 9+ years remaining on their lease

• Strategically positioned within South Park Shopping Center and as an outparcel to Walmart, the only Walmart within the immediate trade area, creating a large consumer and increasing site exposure
• Located along S. Park Drive, a primary retail and commuter thoroughfare with nearby/national credit tenants such as McDonald’s, O’Reilly Auto Parts, Dollar Tree, Arby’s and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover exposure for this site