Property # 433

Investment Property

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Property Details:

Location:	501 East 15th Street - Edmond, Oklahoma
Size SF/Acres:	Leased Office Building $3,434 Monthly - 4,096 Square Feet by Courthouse Approximation**** on .4744 Acres
Listing Price/Lease Price:	$575,000
Price Per SF:	$140.38SF
Availability:	Immediate
Zoning:
Real Estate Taxes:	$3,495.44

• DO NOT DISTURB TENANTS!!!!!!!!!!!!!!!!!
• Attractive Residential Style Office Building Located in a Mixed-Use Office Complex Surrounded by Large Trees and Mature Landscaping
• Currently Used as an Optometry Office Approximately 2,500SF and a Non-Profit Counseling Organization of Approximately 1,596SF
• Any Sale is Contingent on Optometry Office Securing a Lease at $9.00SF on 5 Year Lease Beginning on Sale Date Plus 2 Additional 5 Year Options ($9.50SF and $10.00SF respectively) Plus 5 - One Year Options to Renew with Escalation Clauses
• Non-Profit Counseling Organization Remaining on a Lease on a 5 Year Lease Started January 1, 2008 and Ending on December 31st, 2010 Leased at $1,559.00 Per Month
• Monthly Income from Rents of $3,434.00 (Optometry $1,879.00 (proposed) and Counseling Service $1,559.00)
• Corner Lot with Frontages and Approaches from East 15th Street and Rankin Street
• Wood Construction with Brick Facade, Built in 2002
• 9,610± Square Feet of Concrete Parking (15 Parking Spaces)
• Location: 501 East 15th Street, Edmond, OK
• **** Concerning Square Footage, Buyers Should Consider the Following: 1. Be aware that different appraisers may apply the rules for measurement of a property differently. Never represent that a particular measurement is necessarily accurate. Instead, always qualify any statement about size with terms such as “estimated,” “approximate,” “appraiser’s opinion,” “builder’s opinion” or “assessor’s opinion.” 2. To avoid any and all potential misunderstanding on square footages, we choose not to quote square footage. However, we understand that a discussion of square footage may play an important role in our day to day business, and many buyers may ask for this figure. With this in mind, when providing “appraisal,” “builder’s plans” or “courthouse” information as a source for square footage data, any buyers who present an offer must sign an acknowledgment before the offer is accepted by the sellers, such as the following: “I/we acknowledge that information provided to me from other sources, including, but not limited to, square footage estimates from prior appraisals, builder’s plans or courthouse tax records may be materially inaccurate due to various causes such as alterations to the property or errors in the methods used to calculate the information given. Square footage information provided is for the purpose of marketing, may not be exact and is NOT suitable for loan application, valuation or any other purpose. I/we acknowledge that the Offer being made to purchase ______[property description] is based on our personal viewing and opinion of the property and does not rely upon any information except as specifically contained in the Real Estate Purchase Contract. I/we acknowledge that the both the Listing and Selling Brokers and/or Associates involved in the transaction do not warrant or make any representation concerning the accuracy of any information from third parties and I/we acknowledge receipt of this information disclosure.”