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Listed by Sierra Snowden • Sage Sotheby's Realty
$995,000
Est. payment /mo
20 Beds
10 Baths
6,449 SqFt
New
908 E 12th AVE Stillwater, OK 74074
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Key Details
Property Type Single Family Home
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,449 sqft
Price per Sqft $154
MLS Listing ID OKC1244906
Style Traditional
Bedrooms 20
Full Baths 10
Construction Status Stone,Brick Veneer
Year Built 1987
Annual Tax Amount $3,550
Lot Size 2.000 Acres
Acres 2.0
Property Sub-Type Other
Property Description
INVESTMENT OPP — CURRENTLY LEASED AT $6,150/MO | 7.25% CAP RATE | 3% ANNUAL RENT ESCALATOR | APPROX. 3 YRS REMAINING ON LEASE Rare investment opportunity in the heart of Stillwater offering established income today and significant long-term flexibility. The property is currently occupied under a triple-net (NNN) lease and has a 12+ month history of consistent rent payments, providing buyers with an established tenant and income stream. The property has also benefited from recent improvements, including a brand-new suppression system and additional work completed to address current code requirements, adding meaningful value for an incoming owner. Situated on approximately 2 acres near major employment and education, this unique property offers more than 6,000 SF of flexible space with 20 bedroom / 10 bathrooms. Originally constructed for group housing use, the property features expansive common areas, multiple offices, large gathering spaces, a commercial-style kitchen area, extensive parking, outdoor patio space, mature trees, flower beds, and a park-like setting. Beyond the existing lease, the property's size, configuration, location, and acreage provide extensive long-term optionality for an investor. The versatile floor plan may accommodate a variety of future uses or repositioning strategies, subject to buyer verification of zoning, licensing, occupancy requirements, and intended use. Substantial outdoor space includes garden areas, open green space, and room for a variety of recreational or operational needs. With an existing NNN lease, a proven history of consistent rent payments, contractual annual rent growth, recent property improvements, and significant flexibility for future use, this property offers a compelling combination of current cash flow and long-term investment potential in Stillwater. Buyer to verify all information, measurements, lease terms, financial information, zoning, permitted uses, code compliance, licensing, and occupancy requirements.
Location
State OK
County Payne
Interior
Fireplace N
Exterior
Parking Features Concrete
Garage Description Concrete
Roof Type Composition
Building
Lot Description Campus Area
Foundation Slab
Architectural Style Traditional
Structure Type Stone,Brick Veneer
Construction Status Stone,Brick Veneer
Schools
Elementary Schools Highland Park Es
Middle Schools Stillwater Jhs
High Schools Stillwater Hs
School District Stillwater
Nearby Locations
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