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29856362
29856374

3801 NW 63rd St Bldg 2 & 3, Oklahoma City, OK 73116

AB
OK 154932
Fidelity Real Estate Brokers
Listed by Fidelity Real Estate Brokers
$1,375,000
103 days on market
Updated 103 days ago

Edgewater Office Park

Details
APN 128042000 & 128043000
Property Type Office
Sub Type Creative Office, Medical Office (+1)
Square Footage 14,976
Net Rentable (SqFt) 14,976
Units 25
Cap Rate 3.63%
NOI $49,885
Occupancy 70%
Tenancy Multi
Lease Type Modified
Rent Bumps Yes
Pro-Forma Cap Rate 7.13%
Pro-Forma NOI $98,000
Price per SqFt $92
Broker Co-Op Yes
Class C
Year Built 1977
Year Renovated 2019
Buildings 2
Stories 2
Lot Size (SqFt) 32,016
Zoning C-3
Parking Spaces 44 spaces
Parking Per SqFt 2.94
Investment Type Value Add
Ground Lease No

Office 14,976 SqFt with Value add opportunity or owner occupant with built in lease income

Marketing description

Excellent opportunity to acquire a multi-tenant commercial building along the highly trafficked NW 63rd Street corridor. Situated on a 32,016 SF lot and zoned C-3, the property offers strong visibility, flexible suite configurations, and immediate upside potential. Currently aprx. 70% leased with 25 configurable suites, the building generates $97,871 in gross annual income and approximately $49,885 NOI. Stabilized proforma would generate closer to $98,000. Leases are modified gross with 1–3 year terms, and most include 3% annual increases. Approximately 4,854 SF is available, creating immediate lease-up opportunity. Current asking lease rates of $10/SF are below market, offering clear potential to increase income over time. Ideal for both investors and owner-occupants. Approximately 1,919 SF is available on the first floor, 1,404 sqft of which is functioning Hair Salon. An additional 2,935 sqft space is available upstairs, currently separated in 5 units, allowing a business to occupy immediately while benefiting from in-place tenant income. Any of the spaces can be connected or separated to fit your needs. Recent capital improvements include a new 20-year warranty roof (2019), three of eight five-ton HVAC units replaced within the past six years, and a full LED lighting retrofit converting all T8 fluorescent fixtures to energy-efficient LED tubes—significantly reducing operating expenses. Located within a quarter mile of major intersections and surrounded by national and regional retailers, the property benefits from approximately 49,400 vehicles per day, strong accessibility, and long-term repositioning potential.

Investment highlights

  • 14,976 SF multi-tenant commercial building

  • 32,016 SF lot | C-3 Zoning

  • High-visibility corridor with ~49,400 VPD

  • 70% leased | 25 flexible suites

  • $97,871 gross annual income

  • ~$49,885 NOI (after county taxes)

  • $98,000 NOI with Stabilized Leases

  • Modified gross leases with 1–3 year terms

  • Most leases include 3% annual increases

  • ~4,854 SF available for lease-up

  • Below-market rents at $10/SF

  • New 20-year warranty roof (2019)

  • 3 of 8 HVAC units replaced within last 6 years

  • Full LED lighting retrofit completed

  • Owner-occupant opportunity with immediate availability

Listing Contacts

AB
OK 154932
Fidelity Real Estate Brokers
Listed by Fidelity Real Estate Brokers

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$49,885.00
$4,157.08/mo

Valuation Metrics

0
DSCR
3.63%
Cap Rate
3.63%
ROI

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