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3701-3815 N Harrison St
Shawnee, OK 74804
Harrison Place - Shawnee, OK · Retail Property For Sale


INVESTMENT HIGHLIGHTS
- 32k SF Strip Center Priced at Only $131.09/SF on Average Rents of $12.59/SF
- 2.86 Weighted Average Lease Term Provides Opportunity to Bring Aged Rents to Market and Convert Leases to NNN within a Short-Term Hold Period
- Flurry of New Retail Construction Just North of the Property, Including New to Market Retailers Like Domino C-Stores, Buffalo Wild Wings, and More
- Diversified Tenant Mix of Medical, Financial Services, and Food & Beverage Uses with Long-Term Tenancy and Historically High Renewal Probabilities
- Located Near the #1 Most Visited Walmart Supercenter and Lowe’s Stores in the Oklahoma City MSA
- Shawnee is the Pottawatomie County Seat, Home to Oklahoma Baptist University, and Headquarters for Three Native American Tribes
EXECUTIVE SUMMARY
SHOP Companies is pleased to exclusively offer the opportunity to acquire Harrison Place in Shawnee, Oklahoma, a 100% occupied retail center, comprised of two buildings totaling 32,039 SF most notably featuring key tenants Fresenius Kidney Care, BancFirst Insurance Services, and the venerable Van’s Pig Stand, Oklahoma’s oldest barbeque restaurant continuously owned and operated by the same family (the “Property”). The two buildings are situated on 3.54 acres (MOL) and were built in 1995 and 1998. The rent roll features a 2.86-year weighted average lease term, with the Seller having historically prioritized high occupancy and low rents over lease term.
Shawnee serves as the county seat for Pottawatomie County and also headquarters for the Citizen Potawatomi Nation, the Absentee Shawnee and Kickapoo Tribes. The city also serves as a hub for medical services and higher education, home to SSM Health St. Anthony Hospital, a 61-bed short-term acute care hospital and Oklahoma Baptist University, a Christian liberal arts university offering nine bachelor's degrees and six master’s degree programs across 80 areas of study. Harrison Place is located on the east side of Harrison Street (OK Highway 18), one of the two Interstate 40 exits providing direct access to the city of Shawnee and its neighborhood retail trade area. Harrison Place is the most favorably positioned strip center south of Interstate 40, and the closest in proximity to Gordon Cooper Technology Center, a public career and technology education center serving around 1,000 full-time students and has over 17,000 short-term enrollments annually. Harrison Street north of the property has seen a recent flurry of new construction, with new users entering the market including Domino C-Stores, Buffalo Wild Wings, Taco Casa, Old School Bagel, Orthodontic Specialists of Oklahoma, and SSM Health Express Clinic.
The Harrison-to-Kickapoo I-40 retail corridor is the most dynamic of the broader Potawatomi County trade area, home to national big-box retailers including Walmart Supercenter, Lowe’s, Hobby Lobby, TJ Maxx, Kohl’s, and Ross Dress For Less. Harrison Street is the westbound exit providing access to the 2nd-most visited Walmart Supercenter in the state of Oklahoma, which ranks in the top 96th percentile of stores nationwide. The trade area is also home to the most visited Lowe’s store in the Oklahoma City MSA, ranking it 4th in the state and in the top 93rd percentile of stores nationwide, according to Placer.ai data.
Shawnee serves as the county seat for Pottawatomie County and also headquarters for the Citizen Potawatomi Nation, the Absentee Shawnee and Kickapoo Tribes. The city also serves as a hub for medical services and higher education, home to SSM Health St. Anthony Hospital, a 61-bed short-term acute care hospital and Oklahoma Baptist University, a Christian liberal arts university offering nine bachelor's degrees and six master’s degree programs across 80 areas of study. Harrison Place is located on the east side of Harrison Street (OK Highway 18), one of the two Interstate 40 exits providing direct access to the city of Shawnee and its neighborhood retail trade area. Harrison Place is the most favorably positioned strip center south of Interstate 40, and the closest in proximity to Gordon Cooper Technology Center, a public career and technology education center serving around 1,000 full-time students and has over 17,000 short-term enrollments annually. Harrison Street north of the property has seen a recent flurry of new construction, with new users entering the market including Domino C-Stores, Buffalo Wild Wings, Taco Casa, Old School Bagel, Orthodontic Specialists of Oklahoma, and SSM Health Express Clinic.
The Harrison-to-Kickapoo I-40 retail corridor is the most dynamic of the broader Potawatomi County trade area, home to national big-box retailers including Walmart Supercenter, Lowe’s, Hobby Lobby, TJ Maxx, Kohl’s, and Ross Dress For Less. Harrison Street is the westbound exit providing access to the 2nd-most visited Walmart Supercenter in the state of Oklahoma, which ranks in the top 96th percentile of stores nationwide. The trade area is also home to the most visited Lowe’s store in the Oklahoma City MSA, ranking it 4th in the state and in the top 93rd percentile of stores nationwide, according to Placer.ai data.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
32,039 SF
Building Class
C
Year Built
1995
Price
$4,200,000
Price Per SF
$131.09
Cap Rate
8.78%
NOI
$368,615
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
3.54 AC
Parking
125 Spaces (3.9 Spaces per 1,000 SF Leased)
Frontage
189’ on Harrison St
AMENITIES
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 000005010004001400 | Improvements Assessment | $174,688 |
| Land Assessment | $2,985 | Total Assessment | $177,673 |
PROPERTY TAXES
Parcel Number
000005010004001400
Land Assessment
$2,985
Improvements Assessment
$174,688
Total Assessment
$177,673
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