Listed by Banta Property Group
$1,300,000
Community Park Shopping Center
Details
APN R194765015
Property Type Retail
Sub Type Shopping Center, Storefront
Square Footage 17,000
Net Rentable (SqFt) 17,000
Units 13
Cap Rate 11.72%
Occupancy 94.11%
Tenancy Multi
Lease Type Modified
Price per SqFt $76
Class C
Year Built 1986
Year Renovated 2023
Buildings 1
Stories 1
Acreage 5.020
Zoning C-2
Parking Spaces 93 per 1,000 sq ft
Investment Type Stabilized
Ground Lease No
94% Leased | 5AC | 17,000 SF |
Marketing description
This property presents a compelling investment opportunity in a high-traffic corridor with development potential. With existing infrastructure, room for expansion, and strong market fundamentals, it is well suited for a cash investor.
- Zoning: C-2. The zoning designation supports a wide range of commercial activities, including retail outlets, service establishments, motels, and recreational facilities, providing versatility for various business models.
Local Amenities and Attractions:
- The Country Club at Choctaw Creek: A nearby golf and country club offering recreational and dining experiences, attracting both residents and visitors.
- Choctaw Walmart Supercenter: A major retail hub in proximity, driving substantial consumer traffic and supporting local businesses.
- Educational Institutions: Situated within the Choctaw School District, the area is appealing to families, contributing to a stable and growing community base.
For more information or to schedule a viewing, please contact: Zack (253) 549.8701
Investment highlights
- Individual street addresses for each suite, allowing tenants to operate as standalone businesses
- 3Phase Power
- Low basis entry relative to replacement cost
- Exceptional Visibility: Boasting approximately 845 feet of frontage along NE 23rd Street, this property ensures maximum exposure to daily traffic, enhancing business visibility and customer access.
- Established Infrastructure: The existing 17,000-square-foot shopping center provides rental income, and appeals to a variety of retail and service tenants.
- Community and Economic Growth: Nicoma Park/Choctaw is experiencing a positive economic trajectory, with a projected job growth rate of 31.7% over the next decade. (CoStar) This upward trend indicates a supportive environment for business development and sustainability.
Listing Contacts
Listed by Banta Property Group
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