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Village Oak Shopping Center 1000-1072 S Douglas Blvd 26,058 SF 75% Leased Retail Building Oklahoma City, OK 73130 $2,051,625 CAD ($78.73 CAD/SF) 7.75% Cap Rate
EXECUTIVE SUMMARY
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)
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)
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
26,058 SF
Building Class
C
Year Built
1982
Price
$2,051,625 CAD
Price Per SF
$78.73 CAD
Cap Rate
7.75%
NOI
$159,025 CAD
Percent Leased
75%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
2.80 AC
Parking
170 Spaces (6.52 Spaces per 1,000 SF Leased)
Frontage
456’ on D Douglas Blvd
AMENITIES
- Pylon Sign
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Finance and Insurance
- -
-
$9.99
- -
At Courtesy Loans, they are your local finance experts. They provide tailored solutions and personalized services to help you achieve your goals. As a family-owned company since 1974, with deep community roots, they are committed to your success.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Finance and Insurance | - | $9.99 | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 156655555 | Improvements Assessment | $267,094 CAD |
| Land Assessment | $35,288 CAD | Total Assessment | $302,381 CAD |
PROPERTY TAXES
Parcel Number
156655555
Land Assessment
$35,288 CAD
Improvements Assessment
$267,094 CAD
Total Assessment
$302,381 CAD
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Village Oak Shopping Center | 1000-1072 S Douglas Blvd
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