301 W Main St
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301 W Main St
30,186 SF 75% Leased Office Building Ardmore, OK 73401 $1,600,000 ($53/SF) 7.03% Cap Rate
Investment Highlights
- Prime Location: Situated in a highly desirable area, offering excellent visibility and accessibility for tenants and visitors.
- Additional Parking Properties: The sale includes two additional properties currently used as parking for tenants, enhancing convenience and value.
- The current owner will lease back approximately 5,752 sq. ft., providing immediate rental income and long-term stability.
- Potential for Growth: Several vacant suites are available for new tenants, providing opportunities for increased rental income.
Executive Summary
The current owner, First Bank & Trust Co., will lease back approximately 5,752 sq. ft. across multiple suites. The property also includes various leased spaces to a diverse group of tenants, including professional services, retail, and non-profit organizations. Detailed tenant information is available upon request.
Additional Properties: The sale includes two additional properties currently used as parking for tenants of the building. These parking properties, located adjacent to the main building, offer a total of .70 acre and 80 parking spaces. The parking areas are paved ensuring convenience and safety for tenants and visitors. There is also potential for expansion or alternative uses, adding further value to this offering."
Additional Properties: The sale includes two additional properties currently used as parking for tenants of the building. These parking properties, located adjacent to the main building, offer a total of .70 acre and 80 parking spaces. The parking areas are paved ensuring convenience and safety for tenants and visitors. There is also potential for expansion or alternative uses, adding further value to this offering."
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Building Size
30,186 SF
Building Class
C
Year Built
1920
Price
$1,600,000
Price Per SF
$53
Cap Rate
7.03%
NOI
$112,500
Percent Leased
75%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
15,094 SF
Building FAR
0.95
Lot Size
0.73 AC
Zoning
C1
Parking
80 Spaces (2.65 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
Walk Score ®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 0010-00-328-003-0-001-00 | Total Assessment | $353,110 |
| Land Assessment | $11,751 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $341,359 | Tax Year | 2023 Payable 2023 |
PROPERTY TAXES
Parcel Number
0010-00-328-003-0-001-00
Land Assessment
$11,751
Improvements Assessment
$341,359
Total Assessment
$353,110
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023 Payable 2023
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