Historical Retail Sale Listing - MacArthur Park Shopping Center

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MacArthur Park Shopping Center

2230 North MacArthur Boulevard, Oklahoma City, OK 73127

N/A

60,472 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
60,472 SF
Property Type:
Retail
Property Sub-type:
Neighborhood Center
Additional Sub-types:
Office Building
Property Use Type:
Investment
Cap Rate:
6%
Occupancy:
98%
No. Stories:
2
Tenancy:
Multiple
Year Built:
1974
Lot Size:
5 AC
Listing ID
14698955
Last Updated
over 1 year ago

Highlights

  • New Wal Mart Grocery Store directly west of center
  • Great Corner Location on N.W. 23rd and MacArthur
  • Priced way below Replacement Cost
  • Tremendous Value-Added Opportunity
  • Low Maintenance & Little Landscaping
  • Easy access to major highways I-40 and I-44

Description

This amazing value-added opportunity is a 60,472 square foot mixed use commercial property sitting on 5.0 acres of land on the highly trafficked Southeast corner of N.W. 23rd Street and MacArthur Boulevard in Oklahoma City. Directly west of MacArthur Park is a large new WAL MART NEIGHBORHOOD GROCERY STORE. The traffic counts are great at this corner and the investment while only renting at an average of $5.24 per foot currently, has a strong upside where rents could easily exceed $8 to $10 per foot with the right investor owner. All tenants have separately metered utilities. Landscaping is sparse with little to no expense. Over 35,000 s.f. of the total 60,472 s.f. center consists of a 2 story building. The bottom floor of the building is fully leased to a night club/restaurant and the top floor is fully leased as offices to a management company. Good diverse mix of tenants.

Oklahoma City is ranked number 38 out of the top 100 fastest growing cities in the U.S. based on the 2000 U.S. Census. In addition to being the state capital,Oklahoma City is the largest city in Oklahoma with a total population of around 600,000 and a land area of 621 square miles. Oklahoma City is home to Chesapeake Energy and Devon Energy, tow of the largest independent natural gas producers in the Country. The city is in a renaissance period and is undergoing significant growth. Oklahoma City has enjoyed great success as the current home of the NBA Hornets and home to the Oklahoma Redhawks, the AAA affiliate of the Texas Rangers baseball team. Major public projects completed in the last 8 years in Oklahoma City exceed $300 million in costs. The subject property is directly across the street from a new Wal Mart Neighborhood Grocery Store, a Carl's Jr. restaurant and a Blockbuster Video Store.

Map of 2230 North MacArthur Boulevard, Oklahoma City, OK 73127 (Oklahoma County)

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