Listed by McGee Commercial Real Estate
$4,325,000
Portland Plaza
Details
Property Type Office, Hospitality
Sub Type Medical Office, Traditional Office
Square Footage 37,914
Cap Rate 7.50%
NOI $325,757
Occupancy 82%
Tenancy Multi
Lease Type Gross
Price per SqFt $114
Year Built 1972
Acreage 1.940
Zoning C-CBD
Parking Spaces 126 spaces
Parking Per SqFt 3.32
Investment Type Value Add
Office | 7.50% CAP | 37,914 SqFt
Marketing description
Portland Plaza is a well-located office/medical building in the heart of Northwest Oklahoma City's established medical corridor. The property is 82% occupied and offers immediate cash flow with upside through lease-up of 6,830 SF of vacancy and potential outparcel opportunity.
Positioned near Integris Health Baptist Medical Center with easy access to Northwest Expressway and I-44, the property benefits from strong tenant demand and excellent visibility along North Portland Avenue.
Major tenants include The Oklahoma City Indian Clinic, United Systems, and Integris Baptist Medical Center.
Investment highlights
- 82% occupied
- 7.50% cap rate
- $325,757 NOI
- $114.08 price / SF
- Immediate cash flow with upside through lease-up of 6,830 SF of vacancy and potential outparcel opportunity
- Prime North Oklahoma City location - Directly on N Portland Ave just south of Northwest Expressway
- Interstate access - Minutes to I-44 providing excellent access throughout the Oklahoma City metro
- Medical corridor - Located near Integris Baptist Medical Center in a strong medical & professional office hub
- STABLE MEDICAL & OFFICE TENANCY
- IMMEDIATE LEASE-UP OPPORTUNITY - The Property currently offers five (5) available suites totaling 6,830 SF, providing immediate lease-up upside for a new owner. The suites are fully built out and, with only minor cosmetic refreshing, are considered medical uses, reducing future capital requirements and downtime.
- POTENTIAL OUTPARCEL / PAD SITE OPPORTUNITY - The south side of the Property presents future development potential for an outparcel/pad site, creating additional long-term value and monetization opportunities. See attached coffee site concept.
- FUTURE EXPANSION POTENTIAL - Ownership believes the Property may support additional square footage through expansion, potentially accommodated by a second elevator.
- 6,830 SF AVAILABLE + FUTURE DEVELOPMENT POTENTIAL
Listing Contacts
Listed by McGee Commercial Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$325,757.00
$27,146.42/mo
Valuation Metrics
0
DSCR
7.53%
Cap Rate
7.53%
ROI
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