1933 NW 23rd - Restaurant FOR SALE


Oklahoma City, OK 73106- Epworth
$600,000 USD
405-926-7577
1933 NW 23rd, Oklahoma City, OK for Sale
$600,000 USD
Restaurant - FOR SALE
1/18
null | Request Cap Rate

1933 NW 23rd
Oklahoma City, OK 73106
Epworth


HIGHLIGHTS

  • Recently-Renovated 2,390 SF Single-Tenant Restaurant/Bar Building with Excellent Visibility (24,000+ VPD)
  • Two Outdoor Patios, Redesigned Central Bar, Expansive Kitchen, & Tasteful Interior and Exterior Design Elements
  • Located in Premier Retail Trade Area; Numerous National Retailers in Immediate Proximity
  • Positioned on SW Corner of OCU Campus; 1,162 Student Housing Beds within 0.25 Miles of Property
  • Vacant Despite Strong Tenant Demand; Opportunity for Immediate Value Creation by Re-tenanting

OVERVIEW

SHOP Companies is pleased to exclusively offer the opportunity to acquire 1933 NW 23rd Street, a 2,390 SF single-tenant building located in the heart of one of Oklahoma City’s most iconic urban corridors (the “Property”). The building is situated on 0.16 acres (MOL)and was initially built in 1949. It was then fully renovated in 2019 by VINCIT Design & Construction, with a scope including an impressive interior remodel, new roofing, new flooring, upgraded HVAC, and more. The Property features two spacious outdoor patios, a large central bar, a spacious kitchen, and tasteful interior and exterior design elements, providing investors and restaurateurs alike with a rare opportunity to acquire a turn-key property located amongst a plethora of national restaurants and retailers in one of the city’s most well-trafficked and recognized corridors (24k VPD). The soaring demand for restaurant and retail space in the immediate area is illustrated by the mass influx of national brands over the last decade. This property is one of the last remaining opportunities to acquire single-tenant retail within the highly desirable trade area. 1933 NW 23rd Street presents investors with a unique opportunity to acquire a recently renovated property in an irreplaceable location with a clear path to immediate value creation upon acquisition. The property is vacant, making it ideally suited for an investor seeking a fundamentally strong property with strong upside or an owner-occupant restaurateur seeking to increase their presence in a high-profile location. Due to extremely low corridor vacancy and pronounced demand for restaurant space in the trade area, this property offers investors a straightforward lease-up value-add play by buying at a discount relative to the property’s value upon execution of a long-term lease. For restaurateurs, this property offers the opportunity to establish their concept and personal brand in one of the city’s premier locations while simultaneously building equity in a well-positioned asset.

FOR SALE DETAILS

PRICE

$600,000 USD

PRICE/SF

$251 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1933 NW 23rd - Oklahoma City, OK

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

SPRINKLERS

-

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

SPUD-624

APN/PARCEL ID

052358850

ASK ABOUT THIS PROPERTY

Charles LewisSHOP CompaniesMore Info
405-926-7577

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Charles LewisSHOP CompaniesMore Info
405-926-7577

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.