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11550 N 135th East Ave
Owasso, OK 74055
Garret Creek Center · Retail Property For Sale
Investment Highlights
- Reasor's, an owned subsidary of Brookshire , operates 18 locations throughout NE Oklahoma and their lease is guaranteed by Associated Wholesale Grocer
- Diverse Tenant Mix: Garrett Creek Shopping Center has a diverse and stable tenant mix adverse to replacement with on-line shopping
- Reasor's has positive sales trends at this location with a low rent-to-sales ratio.
- Strategically located along Highway 169 and Highway 20
Executive Summary
Garrett Creek Shopping Center is a 104,081 square foot grocery anchored center. Originally built in 2007, the center is strategically located along Highway 169 and Highway 20 to serve the Owasso, Collinsville, Oologah and Claremore communities. The center, which is 98% leased is anchored by Reasor’s with a 79,216 square foot grocery store. The remaining center is comprised of small shop medical, retail and restaurant users ranging in size from 1,250 square feet to 4,955 square feet. With limited in-line retail space in the submarket coupled with the continued housing growth, Garrett Creek
Shopping Center is a stable investment offering with upside in rents from the small shop tenants.
Shopping Center is a stable investment offering with upside in rents from the small shop tenants.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
108,838 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2008
Price
$15,200,000
Price Per SF
$139.66
Cap Rate
6.91%
NOI
$1,050,320
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
6 Exterior
Building FAR
0.18
Lot Size
13.81 AC
Zoning
CS - Service Commercial
Parking
623 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
712’ on US-169
Amenities
- 24 Hour Access
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Storage Space
- Air Conditioning
Property Taxes
| Parcel Number | 61134-14-09-24230 | Improvements Assessment | $886,484 |
| Land Assessment | $358,017 | Total Assessment | $1,244,501 |
Property Taxes
Parcel Number
61134-14-09-24230
Land Assessment
$358,017
Improvements Assessment
$886,484
Total Assessment
$1,244,501
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