Building D - Midtown Industrial Park
Industrial | 6.50% CAP | 6,300 SqFt
Marketing description
McGraw Commercial Properties, in partnership with Price Edwards & Company, presents the opportunity to acquire Building D at Midtown Industrial Park — a brand-new, 6,300 SF single-tenant industrial building 100% leased to DAIOHS U.S.A., Inc. (dba First Choice Coffee Services), the American subsidiary of Daiohs Corporation of Tokyo, Japan.
The asset offers a true mailbox-money profile: a six-year primary term running through November 2031, a NNN reimbursement structure passing through taxes, insurance, and CAM, approximately 3% annual rent escalations, and one five-year renewal option at fair market value with the expiring rent as a floor. The tenant invested roughly $65,000 of its own capital — above and beyond the landlord's $85,000 allowance — into a ±$150,000 build-out of the space, a strong signal of long-term commitment to the location.
At a $1,098,138 asking price, the offering is priced at a 6.50% cap rate on Year 2 NOI of $71,379, with contractual escalations carrying the yield on cost to 7.32% by the final lease year — all within new 2025 construction in a Midtown Tulsa industrial submarket running 2.8% vacancy with no competitive deliveries in the prior decade.
Investment highlights
- Tenant reimburses pro rata real estate taxes, insurance, and CAM. Tenant maintains HVAC, interior systems, doors, and glass.
- ~3% annual escalations grow rent from $11.00 to $12.75 PSF over the term — a 7.32% yield on today's price by Year 6.
- DAIOHS U.S.A. is the American arm of Daiohs Corporation (Tokyo, est. 1969) — one of the largest office coffee service providers in the U.S., operating coast to coast.
- ±$150K custom build-out for coffee & ice equipment service operations, with ~$65K funded directly by the tenant above the landlord allowance.
- Metal panel construction, fully sprinklered, 20'9"–23'5" clear, two 14'×14' drive-in doors — zero near-term capex profile.
- Midtown Tulsa industrial vacancy of 2.8% with no new construction delivered in the prior decade — strong re-lease fundamentals.
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