700 24th Ave NW
Office | 6.00% CAP | 18,652 SqFt
Marketing description
CBRE is pleased to present the opportunity to acquire 700 24th Avenue NW, a stabilized, single-tenant medical office building fully leased to Mercy Health, a nationally recognized, investment-grade healthcare provider. The 18,652± square foot, purpose-built clinical facility is secured by a newly executed 10-year absolute NNN lease, providing investors with long-term, passive income. The offering delivers durable, bond-like cash flow backed by a strong-credit tenant.
Designed to accommodate a broad range of healthcare services, the property features an efficient floor plan, quality construction, and ample on-site parking. The asset benefits from its location within a dense medical office area, reinforcing long-term tenancy and healthcare-driven demand fundamentals.
Strategically positioned along 24th Avenue NW between Main Street and Robinson Avenue, the property sits within one of Norman's primary retail and office trade areas. The high-traffic corridor of 24th Ave NW provides excellent visibility and accessibility. The location is further enhanced by proximity to the University of Oklahoma, one of the state's largest employment and economic anchors.
Investment highlights
- Fully Leased to Mercy Health, a nationally recognized, investment-grade healthcare provider.
- Two percent per annum for 10 years, absolute net with zero landlord responsibilities.
- Located near the main retail corridor, just minutes from the University of Oklahoma and only twenty miles south of Oklahoma City.
- Less than half a mile east of I-35 with easy interstate access and 2.5 miles north of State Hwy-9.
- Oklahoma City employs more than 60,000 health care sector workers. The city's medical installations combine to offer more than 5,000 beds - and a wealth of opportunities for health care professionals.
- Healthcare contributions exceed $1.1B annually in Norman, OK highlighting sector stability.
- Oklahoma ranks No. 1 for where your dollar stretches further by the Bureau of Labor Statistics, Aug 2025.
- Norman has seen a 3.31% total population increase since the 2020 Census, reflecting steady growth.
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