1000-1072 S Douglas Blvd - Retail FOR SALE


Oklahoma City, OK 73130
$1,476,000 USD
214-674-8126
1000-1072 S Douglas Blvd, Oklahoma City, OK for Sale
$1,476,000 USD
Retail - FOR SALE
1/3
null | 7.75% Cap Rate

1000-1072 S Douglas Blvd
Oklahoma City, OK 73130


OVERVIEW

Immediate Value-Add Opportunity - The center is 75% occupied giving an investor the opportunity to increase in-place NOI by approximately $91,000 through leasing up vacant suites at market rents (Source: Costar Analytics) Below Market Rents - Current average property rent is $5.99 PSF which is 56.7% lower than the average retail rent in the surrounding area of $13.84 (Source: Costar Analytics) Future Upside Potential – The average remaining lease term is just 1.73 years and 59% of the GLA has no extension options offering significant potential for rapid rent increases Six Grocery Stores within a 2-Mile Radius, Significant Traffic Generators - Walmart, Walmart Neighborhood Market, Winco Foods, ALDI, Target and Crest Foods bring a combined 6.39 million annual visits into the area (Source: Placer.ai) Dynamic Population Growth - Oklahoma City is the 20th largest city in America and the 6th fastest growing among those 20 cities (Source: US Census)

FOR SALE DETAILS

PRICE

$1,476,000 USD

PRICE/SF

$57 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Village Oak Shopping Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

170

LAND DETAILS

CROSS STREETS

Wonga Dr

LAND ACRES

2.8 AC

LAND SF

121,968 SF

ZONING

-

APN/PARCEL ID

156655555

ASK ABOUT THIS PROPERTY

214-674-8126

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214-674-8126

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