Wednesday, May 7th, 2025 – 10:00am
Auction To Be Held At:
Dakil Auctioneers, Inc.
200 NW 114th St., Oklahoma City, OK
Registration will begin at 9:00am on the day of the auction at the Dakil Auctioneers building.
Terms on Real Estate: 5% down. 30 days to close. Closing cost and title insurance split 50/50, unless stated otherwise below. 10% Buyers Premium.
For more information regarding the auction contact:
Eric Dahlgren 405 213 4542, eric@918pm.com
Todd Currie 405 826 9952, bbanokc@gmail.com
Pre-Conference Meeting & Discussion for All Potential Bidders
Fri. April 25th at 9:00AM
LOCATED AT DAKIL AUCTIONEERS, INC.
200 NW 114th Street
Oklahoma City, Oklahoma
Property Address: 801 NW 122nd St, Oklahoma City, OK 73114
Total
Leasehold Area: 71.253 acres
Lease Expiring: April 8, 2052 (with extension options in perputity)
Zoning: PUD allowing I-1 Light Industrial and C-3 Community
Commercial
Seller: BB Academy OKC North LLC
Investment Opportunity
BB Academy OKC North LLC is offering its long-term land lease and improvements for sale. The low monthly ground lease payment, combined with no property tax on the land, creates a unique opportunity for investors or developers to acquire a large high-potential commercial property in Oklahoma City, with utility infrastructure (water, sewer, electricity) on site, existing cash-flow and very low carry costs.
Transaction Options
Option 1: Building Without Ground Lease
Includes:
48,706 sqft D-BAT Academy building (cash-flowing at $292,236.00 annually, increasing to $301,003.08 in 2026)
+/- 10 acres MOL for the building and parking lot.
Additional space for future development in the parking lot.
Option 2: Ground Lease Without Building
Includes:
+/- 61-acre MOL leasehold (unencumbered land north of D-BAT Academy)
Easement provided for access via NW 122nd Street.
BB Academy retains the +/- 48,706 sqft building and +/-10 acres for the building and parking lot.
Opportunity to acquire adjoining land and convert ground lease to fee simple ownership (see CLO Land Auction Integration section).
Option 3: Lease and All Improvements
Includes:
70.94-acre leasehold
48,706 sqft D-BAT Academy building (cash-flowing at $292,236.00 annually, increasing to $301,003.08 in 2026)
Additional space for future development in the parking lot.
This auction will be held in a “Multi-Tract Auction” format. Bidders will be allowed to place bids on Option 1, Option 2 or Option 3 separately. The final bids that will be accepted are the greater of the combination of bids for Option 1 and Option 2 or the bid for Option 3.
CLO Land Auction Integration Information
The Oklahoma Commissioners of Land Office (CLO) conducted an auction on September 3rd, 2024, to sell Tracts A, B, and C (Attachment A) fee simple with a minimum bid of $10.67 Million ($2.00/sqft) for the full land package. There were no bids due to the largest parcel (Tract C) being encumbered by the existing ground lease of BB Academy. The CLO has offered to reopen the auction process if a buyer is willing to commit to the minimum bid. With control of the lease, there is a highly likely opportunity to acquire the adjoining parcels at a future auction at the minimum bid price. By statute, the CLO will be required to update the most recent appraisal prior to re-auctioning the land which could change the minimum bid slightly in either direction.
Strategic Advantages for Fee Simple Ownership:
If a buyer acquires the CLO land AND the BB Academy leasehold (less the +/-10 acres for the D-BAT Academy building and parking lot) for $2.5 Million, they gain full control of 122.7 acres for an all-in cost of $13.17 Million ($2.46/sqft).
An appraisal in Fall of 2023 valued the land at $3.60/sqft ($17.778 Million), making this purchase a significantly discounted opportunity.
Key Advantages
✅ Multiple Investment Options: Buyers can choose to purchase just the ground lease, just the fully leased 48,706sqft building, the ground lease AND the existing leased building, or integrate with the CLO auction for full land ownership (with or without the building). CLO owns tract A & B unencumbered. Refer to CLO Land auction integration information above. Fee simple ownership is an example and not a representation by Owners or Dakil Real Estate, Inc.
✅ Long-Term Lease Security: The 55-year lease (expiring in 2052) includes perpetual renewal options with NO property tax on the land, ensuring longevity for an investor or operator with very low carry costs.
✅ Revenue-Generating Asset: The D-BAT Academy building is cash-flow positive, with a long-term lease in place.
✅ Development Potential: Infrastructure such as city water, electrical service, sewer line, and water well is in place. The parking lot can also accommodate new construction.
✅ Adjacent CLO Sale Advantage: The opportunity to acquire 122.7 acres in a single transaction provides an investor with a prime commercial development footprint. This is an opinion and not a guarantee or representation by sellers or Dakil Real Estate, Inc.
Terms on Real Estate: 5% down. 30 days to close. Closing cost, title insurance and survey’s split 50/50, unless stated otherwise. 10% Buyers Premium.
