8467-8497 NE 23rd St - Retail FOR SALE


Spencer, OK 73084
$2,800,000 USD
918-370-2877
8467-8497 NE 23rd St, Spencer, OK for Sale
$2,800,000 USD
Retail - FOR SALE
1/9
null | 8.54% Cap Rate

8467-8497 NE 23rd St
Spencer, OK 73084


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 and 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

$2,800,000 USD

PRICE/SF

$70 USD /SF

CAP RATE

8.54%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Plaza Latina

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

3.35 AC

LAND SF

146,004 SF

ZONING

C-3

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.