908 E 12th Avenue Stillwater, OK 74074
Listing Courtesy of: MLS LogoMLSOK - CMA as distributed by MLS GRID / Listed By: Sage Sotheby's Realty (405-748-0405)

  908 E 12th Avenue Stillwater, OK 74074

Active (2 Days)
$995,000 (USD)
20
BED
10
BATH
6,449
SQFT

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.

MLS #:
1244906
Taxes
$3,550
Lot Size
2 acres
Type
Multifamily
Year Built
1987
School District
Stillwater
County
Payne County

Listed By

Sierra Snowden, Sage Sotheby's Realty
Source
MLSOK - CMA
Last checked Aug 18 2026 at 11:33 PM GMT+0000
Bathroom Details
  • Full Bathrooms: 10
Lot Information
  • Campus Area
Property Features
  • Foundation: Slab
Exterior Features
  • Roof: Composition
School Information
  • Elementary School: Highland Park Es
  • Middle School: Stillwater Jhs
  • High School: Stillwater Hs
Parking
  • Concrete
Living Area
  • 6,449 sqft
Location
   
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Disclaimer: Copyright 2026 MLSOK. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 8/18/26 16:33
Based on information submitted to the MLS GRID as of 8/18/2026 23:33. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.