8467-8497 NE 23rd St - Freestanding FOR SALE


Oklahoma City, OK 73141
$3,500,000 USD
918-370-2877
8467-8497 NE 23rd St, Oklahoma City, OK for Sale
$3,500,000 USD
Freestanding - FOR SALE
1/9
null | 7.57% Cap Rate

8467-8497 NE 23rd St
Oklahoma City, OK 73141


HIGHLIGHTS

  • 100% Leased
  • In Place NOI of $265,000
  • Heavy Day time traffic
  • Recently renovated
  • 3.2 Year Weighted Average Lease Term
  • Anchor tenant (Tire Shop) ~64% of total rent on 5-year lease

OVERVIEW

Plaza Latina is a ±40,000 SF retail center situated on 3.1 acres along NE 23rd Street in Oklahoma City, offering strong frontage in a high-traffic corridor. The property is fully leased with approximately $25,500 in monthly base rent, anchored by a 23,000 SF tire shop and a gas station that together contribute a majority of the income. The tenant mix consists of service-oriented and neighborhood retail users, providing stable in-place cash flow with diversified tenancy. The asset has a weighted average lease term of approximately 3.2 years, with several shorter-term leases creating near-term rollover and rental upside. With recent renovations completed and multiple lease expirations in the near term, the property offers a balance of current income and value-add potential through lease-up and rent growth.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$174 USD /SF

CAP RATE

7.57%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

85

LAND DETAILS

LAND ACRES

3.1 AC

LAND SF

134,840 SF

ZONING

-

APN/PARCEL ID

191452000

ASK ABOUT THIS PROPERTY

Chandler MoreauMoreau Property AdvisorsMore Info
918-370-2877

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Chandler MoreauMoreau Property AdvisorsMore Info
918-370-2877

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