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Colbert, OK

2405 South Franklin Street

Address:
2405 South Franklin Street, Colbert, OK 74733
Property Type:
Vacant
Price:
$1,650,000
Square Feet:
37,823 sqft
Lot Size:
2.53 Acres
Price Per Square Foot:
$43.62
Year Built:
2013
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* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

  • 37,823-Square-Foot Vacant Industrial Asset on 2.53 Acres with Great Visibility
  • Featuring Two Dock-High Doors, Two Grade-Level Doors, and Ample Fenced-In Land for Storage/Development
  • 25.4’ Max Clear Height for Inventory Storage with Direct Access to U.S. 75/69
  • Opportunity to Take Advantage of Low Oklahoma Taxes with Proximity to DFW
  • Located Adjacent to Fast-Growing Market | Notable Texas Instruments Development

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2405 South Franklin Street in Colbert, Oklahoma. The subject property consists of approximately 37,823 square feet of warehouse space and is situated on 2.53 acres of land. The single-tenant asset features three-phase power, metal construction, two dock-high doors, and two grade-level doors. For sale as vacant, the property can be acquired for immediate owner use, and the clear height ranging from 8.5’ to 25.4’ makes the warehouse suitable for inventory storage. With a coverage ratio of 34 percent, the property, equipped with an exterior fence, can easily accommodate outside storage and even further development. Sitting 85 miles north of downtown Dallas along U.S. Route 75/69, the property allows landlords to take advantage of Oklahoma’s relatively low property taxes while maintaining access to the Dallas-Fort Worth metroplex.

The subject property is positioned just north of the Sherman-Denison industrial market that lines the Red River which creates the border between Texas and Oklahoma. At 10 million square feet of industrial space, Sherman-Denison is a relatively small but rapidly growing market. During the fourth quarter of 2023, notable construction projects included Texas Instrument’s 4.7 million-square-foot factory and GlobiTech’s 1.33 million-square-foot silicon wafer manufacturing plant. In total, the 6.1 million square feet of industrial space underway in Sherman-Denison will expand the inventory by 61 percent. During Q4, the vacancy rate sat at 7.7 percent with market rents up 4.6 percent year-over-year (CoStar). Despite the high vacancy rate, the long-term outlook for the Sherman-Denison industrial market looks promising given the significant increase in development that can have a spillover effect on the market’s overall industrial demand.

The Dallas-Fort Worth metroplex is the fourth-most populous metro in the nation, with an aggregate of more than 7.7 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 919 thousand residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the region’s transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metro’s numerous corporations and growing industries. Dallas/Fort Worth’s population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 24 Fortune 500 companies and many regional headquarters, drawing workers and residents. The area’s extensive network of rail and highways, along with the International Inland Port of Dallas, ensure its status as a distribution hub.

BROKER OF RECORD
Steve Greer
Oklahoma Broker of Record
7633 East 63rd Pl., Ste. 300
Tulsa, OK 74133
Tel: (225) 376-6800
License #: 206118
Steve.Greer@MarcusMillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2023 Marcus & Millichap. All rights reserved. (Activity ID: ZAE0060780)