5625 SE 15th St - Storefront FOR SALE


Midwest City, OK 73110
$8,150,000 USD
917-741-1525
5625 SE 15th St, Midwest City, OK for Sale
$8,150,000 USD
Storefront - FOR SALE
1/8
null | 6.24% Cap Rate

5625 SE 15th St
Midwest City, OK 73110


HIGHLIGHTS

  • Shopping Center gets 5.2 million visits per year and growing top Rankings
  • 2 miles from Tinker AFB with a 7.5 billion total economic impact
  • Across from 1# Walmart Supercenter in Oklahoma and Home Depot
  • Hobby Lobby build to suit with low rent of $9.25 psf
  • Primary retail destination for Tinker’s 63,000 workforce and Rose State
  • In HOBBY LOBBY's home town and HQ

OVERVIEW

HMX Realty Advisors exclusively presents for sale a double net Hobby Lobby in the Sooner Rose Shopping Center, where Hobby Lobby occupies the endcap on the intersection directly across from the #1 performing Walmart Supercenter in Oklahoma and Home Depot. Other tenants in the center include Burlington Coat Factory, Academy Sports + Outdoors and Regal Cinemas. A four-tenant section is of the center with Dollar Tree, Dine Brands’ Fuzzy’s Taco Shop, Rally House with 300 locations, and Mountain Mike’s Pizza is for sale separately and is priced at $7,500,000 which is a 7.5 cap rate. Additionally, Del Crest Center anchored by BioLife, Harbor Freight and Boot Barn, which is down SE 15th Street, is for sale and priced at $9,450,000 which is a 7.6 cap. Hobby Lobby was relocated from a former supermarket down the street and has been operating in Midwest City for 35 years. Oklahoma City is the headquarters of Hobby Lobby, and it operates a corporate campus of over 12 million square feet of manufacturing, wherehouse and office space which is 10 miles away. Because they have no long-term debt and self fund their facilities their "default risk" is viewed as extremely low. Lenders will often look at Hobby Lobby’s balance sheet and treat them with the same confidence as a BBB+ or A-rated company. The developer only contributed $50 psf to the 55,000 sf build to suite building. The property benefits from the “Tinker Effect” with a 2-mile proximity to Tinker Air Force Base, the nation’s largest maintenance, repair, and overhaul (MRO) facility. It is the exclusive maintenance hub for the next-generation B-21 Raider stealth bomber. Tinker has a total annual economic impact of 7..5 billion, up from 4.5 billion a few years ago.

FOR SALE DETAILS

PRICE

$8,150,000 USD

PRICE/SF

$89 USD /SF

CAP RATE

6.24%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

HOBBY LOBBY End Cap NN #1 Walmart Supercenter

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.02 AC

LAND SF

175,111 SF

ZONING

-

APN/PARCEL ID

214781010

ASK ABOUT THIS PROPERTY

Rob JamesHMX1031.COMMore Info
917-741-1525

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Rob JamesHMX1031.COMMore Info
917-741-1525

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