221-225 N 3rd St
Muskogee, OK 74401
Doyle Bland · Office Property For Sale

HISTORIC DOWNTOWN BUILDING - Historic 20,000 square-foot downtown mixed-use building. Built in 1920 as the annex to the old Turner Motel, site of Charles Haskell's swearing in as the first elected Governor of Oklahoma. OPPORTUNITY ZONE - Property is situated within a designated Opportunity Zone which offers a prospective buyer a variety of tax benefits. FULLY OCCUPIED APARTMENTS - ~10,000 sf of apartment space in 14 units on floors 3-4. Apartment units fully occupied. 14 1-bed/1-bath units @ $700-$850/month. OFFICE UPSIDE - ~10,000 sf of office space in 24 units on floors 1-2. Office spaces rented between $100 & $400 / month, with 12 spaces currently vacant. MAJOR RENOVATIONS IN 2009 - The building underwent major renovations in 2009. These included the addition of an elevator and ADA compliant bathrooms on office/retail floors 1-2; upgraded electrical, plumbing, fire suppression and new appliances for all apartment units; central heat and air on floors 1-2 and PTAC units for apartment units on floors 3-4; continuous hot water heaters in 1/3 of apartment units; one handicap accessible unit w/ walk-in showers on each apartment floor. CENTRAL DOWNTOWN LOCATION - Located in Muskogee, Oklahoma with close access to both US- 62 & US-64; less than a quarter mile right behind the Arrowhead Mall, an enclosed shopping mall opened in 1987 that has more than 40 department stores. A mile and a quarter down US-64 (E Okmulgee Ave) is Spaulding Park and Muskogee Parks & Recreation. The Three Rivers Museum and the Oklahoma Music Hall of Fame & Museum are within a half-mile south of the property. ADDITIONAL INCOME - Laundry facilities generate a net $300/month and building vending machines contribute another $50 monthly for approximately $4,200 in additional income. CITY UTILITIES - All City Utilities, all master-metered & all included in rent. Landlord provided internet service.