JUST KIDS | 400 N Eastern Ave
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JUST KIDS 400 N Eastern Ave
9,900 SF Office Building Moore, OK 73160 $4,583,000 ($463/SF) 5.87% Cap Rate
Investment Highlights
- ABSOLUTE NNN LEASE
- ANNUAL RENT ESCALATIONS STARTING YEAR 6
- 8 YEARS REMAINING ON INITIAL TERM
Executive Summary
Great opportunity to acquire fee simple interest in an absolute NNN, freestanding MOB occupied by Just Kids Pediatrics (JKP) in Moore, OK. JKP signed a 10 year lease in 2022 (8 years remaining) with 2 (5-year) options, demonstrating their commitment to long term tenancy. The lease terms will have 2% annual increases beginning Year 6 of initial term and the annual increases will continue annually throughout both option terms as to allow an investor steady NOI growth and inflation hedge. The lease is absolute NNN with zero landlord responsibilities, making it an ideal management free investment for a passive investor.
JKP was started in 2014 and has grown into a 13 clinic, multi-speciality practice with more than 30 providers. JKP was created by highly educated medical professionals and pediatricians with a core focus on whats best for each individual families needs in all aspects of their primary care and uses the newest technology and state of the art equipment that guarantees accurate results and the best possible care.
JKP was started in 2014 and has grown into a 13 clinic, multi-speciality practice with more than 30 providers. JKP was created by highly educated medical professionals and pediatricians with a core focus on whats best for each individual families needs in all aspects of their primary care and uses the newest technology and state of the art equipment that guarantees accurate results and the best possible care.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
9,900 SF
Building Class
C
Year Built/Renovated
1975/2021
Price
$4,583,000
Price Per SF
$463
Cap Rate
5.87%
NOI
$268,800
Tenancy
Single
Building Height
1 Story
Typical Floor Size
9,900 SF
Building FAR
0.12
Land Acres
1.92 AC
Zoning
R-4
Parking
85 Spaces (8.85 Spaces per 1,000 SF Leased)
Amenities
- Signage
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PROPERTY TAXES
Parcel Number | R0004222 | Improvements Assessment | $219,276 |
Land Assessment | $200,724 | Total Assessment | $420,000 |
PROPERTY TAXES
Parcel Number
R0004222
Land Assessment
$200,724
Improvements Assessment
$219,276
Total Assessment
$420,000
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JUST KIDS | 400 N Eastern Ave
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