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Ranch Acres Shopping Center 3103-3147 S Harvard Ave 88,023 SF 100% Leased Retail Building Tulsa, OK 74135 $7,745,000 ($87.99/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Walmart Ground Lease and Restaurant Pad Included
- Low Rental Rates with High Upside Potential
- Hard Corner, Signalized Intersection
- Low Price Per Square Foot
EXECUTIVE SUMMARY
Newmark Retail Capital Markets is pleased to present the opportunity to acquire Ranch Acres Shopping Center, a 100% leased Walmart anchored center. This 88,023 square foot center is located in a dense infill area in Tulsa, OK. Ranch Acres Shopping Center is situated on the southeast corner of Harvard Ave and 31st St, exposing the property to over 27,000 vehicles on a daily basis. On a hard corner with a lighted intersection, the shopping center shares the corner with a variety of other tenants including Wendy’s, Bank of Oklahoma, and Walgreens. The eight tenants of Ranch Acres Shopping Center are a mix of national and local offering a variety of services. Located only fifteen minutes southwest of the Tulsa International Airport, this property provides a buyer the opportunity to purchase a stable asset in a well-populated area of Tulsa, OK
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
88,023 SF
Building Class
C
Year Built/Renovated
1950/2014
Price
$7,745,000
Price Per SF
$87.99
Cap Rate
6.75%
NOI
$522,857
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.33
Lot Size
6.10 AC
Zoning
CS - SHOPPING CENTER DISTRICT
Parking
402 Spaces (4.57 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- 24 Hour Access
- Bus Line
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Storage Space
- Air Conditioning
Walk Score®
Very Walkable (72)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $279,281 | |
| Land Assessment | $385,608 | Total Assessment | $664,889 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$385,608
Improvements Assessment
$279,281
Total Assessment
$664,889
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Ranch Acres Shopping Center | 3103-3147 S Harvard Ave
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