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100% Occupied Retail Center 900 E Prospect Ave 12,160 SF 87% Leased Retail Building Ponca City, OK 74601 $2,315,688 CAD ($190.43 CAD/SF) 7.56% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Major Retail Corridor
  • Heavily Traveled Corridor
  • Stabilized Tenant Base

EXECUTIVE SUMMARY

This 100 percent (100%) occupied retail center has 12,160 square feet with a stabilized tenant base. Some of the tenants are paying below market rents so there exists an opportunity to raise rents upon lease renewal. The majority of the tenants have occupied their spaces for over 10 years. The property offers a good mix of tenants with both national and local retailers in place.
The property fronts East Prospect Street and is adjacent to Aldi. The property is on a heavily traveled retail corridor and is surrounded by national retailers including a Walmart Supercenter, Atwoods, Tractor Supply, Chili's, Hobby Lobby, Burger King and Schloltzsky's.

FINANCIAL SUMMARY (ACTUAL - 2024)

ANNUAL (CAD) ANNUAL PER SF (CAD)
Gross Rental Income $198,912 $16.36
Other Income $23,490 $1.93
Vacancy Loss - -
Effective Gross Income $222,402 $18.29
Taxes $16,007 $1.32
Operating Expenses $31,328 $2.58
Total Expenses $47,335 $3.89
Net Operating Income $175,067 $14.40

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income (CAD)
Annual $198,912
Annual Per SF $16.36
Other Income (CAD)
Annual $23,490
Annual Per SF $1.93
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $222,402
Annual Per SF $18.29
Taxes (CAD)
Annual $16,007
Annual Per SF $1.32
Operating Expenses (CAD)
Annual $31,328
Annual Per SF $2.58
Total Expenses (CAD)
Annual $47,335
Annual Per SF $3.89
Net Operating Income (CAD)
Annual $175,067
Annual Per SF $14.40

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
12,160 SF
Building Class
C
Year Built
1985
Price
$2,315,688 CAD
Price Per SF
$190.43 CAD
Cap Rate
7.56%
NOI
$175,080 CAD
Percent Leased
87%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.08
Lot Size
3.68 AC
Zoning
C1-C - Commercial
Parking
200 Spaces (16.45 Spaces per 1,000 SF Leased)
Frontage
444’ on E Prospect Ave

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Finance and Insurance
  • 1,520 SF
  • $17.97 CAD
  • Triple Net
  • Feb 2028

Check ‘n Go is a consumer financial services company specializing in short-term lending solutions, including payday loans, installment loans, and check-cashing services. Founded in 1994 in Covington, Kentucky, the company expanded rapidly and now operates hundreds of retail locations across multiple states, as well as an online platform. Check ‘n Go is part of CNG Holdings, a privately held financial services group headquartered in Cincinnati, Ohio. The company focuses on providing accessible credit options for individuals who may not qualify for traditional banking products.

  • Services
  • 1,520 SF
  • $16.59 CAD
  • Triple Net
  • Mar 2027
  • K&K Nail & Spa
  • Services
  • 1,520 SF
  • $17.46 CAD
  • Modified Gross
  • Mar 2028
  • Health Care and Social Assistance
  • 1,850 SF
  • $16.59 CAD
  • Triple Net
  • Feb 2027

Extensive oral care for people of all ages Professional orthodontic care for the whole family With over 5 years of experience in the dental industry, Ponca Smiles is your ideal clinic for top-quality orthodontic care. Whether you’re looking for designer braces or Invisalign, we have all your orthodontic needs covered.

  • Accommodation and Food Services
  • 1,520 SF
  • $19.36 CAD
  • Triple Net
  • Dec 2027

Subway® is simply the better choice for freshly made, convenient, and affordable food. For a reason, they are one of the world’s largest restaurant brands, serving up a crave-able menu with better options to their millions of fans, every day. Whether it’s their bread baked fresh daily, new flavorful signature subs or their classic fan favorites made fresh to order, Subway® delivers a quality, delicious meal that people can feel good about. The Subway® story began in 1965 when Fred DeLuca asked his family friend, Dr. Peter Buck, a nuclear physicist, for advice on how to pay his college tuition. With an idea to open a submarine sandwich shop and an initial investment from Dr. Buck, the two formed a business partnership that would ultimately change the landscape of the quick-service restaurant industry.

  • Vapor 100
  • -
  • 2,710 SF
  • $13.77 CAD
  • Modified Gross
  • Feb 2027
TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Finance and Insurance 1,520 SF $17.97 CAD Triple Net Feb 2028
Services 1,520 SF $16.59 CAD Triple Net Mar 2027
K&K Nail & Spa Services 1,520 SF $17.46 CAD Modified Gross Mar 2028
Health Care and Social Assistance 1,850 SF $16.59 CAD Triple Net Feb 2027
Accommodation and Food Services 1,520 SF $19.36 CAD Triple Net Dec 2027
Vapor 100 - 2,710 SF $13.77 CAD Modified Gross Feb 2027

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • 900
  • 1,520 SF
  • Office/Retail
  • -
  • Now

1,520 square feet of office or retail space available for lease.

Space Size Space Use Position Available
900 1,520 SF Office/Retail - Now

900

Size
1,520 SF
Space Use
Office/Retail
Position
-
Available
Now

900

Size 1,520 SF
Space Use Office/Retail
Position -
Available Now

1,520 square feet of office or retail space available for lease.

NEARBY MAJOR RETAILERS

Planet Fitness
Starbucks
Equity Bank
Rib Crib
Chili's Grill & Bar
City National Bank of OK
ColorTyme
Freddy's
Perkins
Rent-A-Center

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 1990-15-026-02E-1-020-00
  • 1990-15-026-02E-1-022-00
Land Assessment
$56,507 CAD
Improvements Assessment
$238,242 CAD
Total Assessment
$294,749 CAD
Annual Taxes
$16,007 CAD ($1.32 CAD/SF)
Tax Year
2024
  • Listing ID: 33055378

  • Date on Market: 2024-09-04

  • Last Updated:

  • Address: 900 E Prospect Ave, Ponca City, OK 74601

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