1501-1511 Exchange Ave - River Front Land Plot 5.24 Acres of Commercial Land Offered at $4,108,572 in Oklahoma City, OK 73108

OKC RIVER FRONT property 5.2 AC (mol) 1509-1501 Exchange Ave, Oklahoma City, Oklahoma 73108. Great development site for any multi-family investor. The properties consist of 5.2 AC (mol) or 226,512 Sq. Ft that is currently Industrially zoned land. The owner is currently working with an engineering firm and City of Oklahoma City to rezone the subject property that after zoned as a PUD for mix use development the land should appraise in my brokers opinion for an estimated $17.00 per Sq Ft (mol) based on comps in area specific to properties that are also near the Oklahoma river front and have a view of OKC skyline. This property location is a great property for a quality condominium and/or apartment development , that if developed could offer luxurious living space with some units unit having balcony or loft offering great views of the OKC River and OKC skyline The current site plan would provide the residents with a common area roof top clubhouse, work out facility, swimming pool with outdoor pool side kitchen and cook station, small & large dog park areas, lighted outdoor pickle ball courts, and possible restaurant concept that would have a great food menu with full bar and balcony for a live band that will overlook the OU boat house and boat docs, slips, etc. subject to approved by the city of Oklahoma City. Update: The rezoning has been approval with the final approval scheduled for December 31st, 2024. The property is on the west side of Exchange Ave next to the Oklahoma City River and adjacent to the Oklahoma University boat house known as the (“OU”) boat house and OU boat excursion docks easily visible from east bound or West bound I-40 traffic that gives this property better than average marketability, The strategic location of this property offers multiple curb cuts and side walks, with more than ample ingress/ egress into and/or out of the property from Exchange Ave . The property is a 2-3 minute walk or bike ride to be on the Oklahoma River front bile and jogging trail. LOCATION , LOCATION, LOCATION This property is geographically located in one of the fastest growing up-and-coming OKC areas in Oklahoma city . The subject property is located an estimated 10 minutes drive to the following destinations referenced below : 1) Downtown low rise and high-rise office district (4.5 minute drive) 2) Daily Farmers Market (“Offering Organic Fresh fruit and vegetables Daily “) (3 minute drive 6.5 minute walk ) 3) OKC River Front walking, jogging, cycling , biking trail (3.5 minute walk 2 minute bike ride) 4) OU River Boat excursion Ticket desk and Docs, loading ramps (3.5 minute walk 2 minute bike ride) 3) Over 25 restaurants (4 up to 10 minute drive) 4) Over 15 Hotels (5.2 up to 10 minute drive) 4) Art Plaza District (7 minute drive) 5) Film Row District (5 minute drive) 6) Scissortail park (5 minute drive) 7) Midtown (6 minute drive via Classen Blvd) 8) Bricktown (6.5 minute drive) 9) Botanical Gardens (5 minute drive) 10) NBA Thunder Dome arena (Paycom Center) (6.8 minute drive) 11) Boat houses , water park, river rapids, zip lining, rock climbing, recreational parks (7 minute drive) This subject property is also in the OKC empowerment zone that offers corporations and companies with employment that qualify possible incentives as follows: 1) Millions in tax breaks and benefits. Businesses are cashing in. Many area firms have laid claim to thousands of dollars in federal tax breaks on employee wages - and you can too. 2) WHAT: Oklahoma City's Empowerment Zone (EZ) is a federally designated area created to promote public-private collaboration and stimulate job growth. It's a pool of tax breaks and incentives for businesses and employees in the Zone. 3) Wage Credits: Tax credits of up to $3,000 per year for each qualified EZ employee - newly hired or already on the payroll - who lives and works in the EZ. 4) Bond Financing: Tax-exempt facility bonds to finance property, equipment and site development. 5)Tax Deductions: Increased expensing deductions - up to $35,000 for depreciable assets acquired this year. 6) Capital Gains: Zero percent and non-recognition of gain on sale of assets, or partial exclusion of gain from sale of EZ stock. WHERE: The Empowerment Zone includes most of downtown OKC, extending roughly three to five miles north and south of I-40 and east and west of I-235.