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1601 S May Ave 722 SF Retail Building Oklahoma City, OK 73108 $450,000 ($623.27/SF) 6.31% Cap Rate
Investment Highlights
- Prime corner location: S May Ave & SW 15th St - Approx. 19,212 SF corner lot
- I-2 Heavy Industrial Zoning - Redevelopment potential
- Ideal for automotive, service, industrial, or commercial users
- $2,500/month in-place tenant (through 3/31/2028) - Tenant pays maintenance & insurance - Landlord responsible for taxes only ($1,610.70 annually)
- Minutes from I-44 and I-40 interchange - Strong traffic exposure
- Low-management investment structure
Executive Summary
1601 S May Ave presents a rare opportunity to acquire a high-visibility corner property near the I-44 and I-40 corridors in Oklahoma City. Situated on approximately 19,212 square feet of I-2 zoned land, this site offers strong redevelopment potential while providing immediate in-place income.
The property is currently leased at $2,500 per month through March 31, 2028. The tenant is responsible for maintenance and insurance, creating a low-management structure for ownership. County taxes are approximately $1,610.70 annually, resulting in an attractive net income profile.
The corner location at S May Ave and SW 15th Street offers excellent access and visibility, making the site well-suited for long-term redevelopment into automotive, industrial, service, gas station, quick-service restaurant, or other commercial uses permitted under I-2 zoning.
Investors benefit from stable income during the remaining lease term, while owner-users or developers gain flexibility for repositioning or redevelopment in the near future.
The property is currently leased at $2,500 per month through March 31, 2028. The tenant is responsible for maintenance and insurance, creating a low-management structure for ownership. County taxes are approximately $1,610.70 annually, resulting in an attractive net income profile.
The corner location at S May Ave and SW 15th Street offers excellent access and visibility, making the site well-suited for long-term redevelopment into automotive, industrial, service, gas station, quick-service restaurant, or other commercial uses permitted under I-2 zoning.
Investors benefit from stable income during the remaining lease term, while owner-users or developers gain flexibility for repositioning or redevelopment in the near future.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
722 SF
Building Class
C
Year Built
1961
Price
$450,000
Price Per SF
$623.27
Cap Rate
6.31%
NOI
$28,389
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.44 AC
Zoning
I-2 - I-2 with SRODD overlay
Parking
15 Spaces (20.78 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signalized Intersection
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Mark Hux
- Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Mark Hux | Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 088530145 | Total Assessment | $13,533 |
| Land Assessment | $8,453 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $5,080 | Tax Year | 2025 |
Property Taxes
Parcel Number
088530145
Land Assessment
$8,453
Improvements Assessment
$5,080
Total Assessment
$13,533
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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1601 S May Ave
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