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25808020
25808021

10481 N May Ave, Oklahoma City, OK 73120

NB
OK 183740
GS
OK 140822
Wiggin Properties LLC
IS
Wiggin Properties LLC Corporate
Listed by Wiggin Properties LLC, Wiggin Properties LLC Corporate
$2,650,000
210 days on market
Updated 79 days ago

Village Park North

Details
Property Type Retail
Sub Type Shopping Center, Storefront
Square Footage 16,241
Net Rentable (SqFt) 16,241
Units 7
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Pro-Forma Cap Rate 9.69%
Pro-Forma NOI $256,916
Price per SqFt $163
Class B
Year Built 1973
Acreage 1.350
Zoning C-2
Parking Spaces 3.44 per 1,000 sq ft
Investment Type Value Add

Value-Add Shopping Center

Marketing description

Wiggin Properties is pleased to present the exclusive offering of Village Park North, a fully occupied multi-tenant retail asset offering a compelling mark-to-market opportunity in one of Oklahoma City’s most tightly held corridors at a basis well below replacement cost. With a long-standing tenant roster, a proven location, and the ability to immediately enhance value, Village Park North is a legacy asset poised for its next chapter under new stewardship.

Oklahoma City is located in central Oklahoma in the heart of the I-35 Megalopolis, the #1 ranked Megapolitan Area for population and job growth since 2005. The Greater Oklahoma City is home to nearly 10% of the I-35 Megalopolis’ total population of 20.7 million. From 2010-2020, Oklahoma City was one of only 14 cities in the United States to grow by 100,000+ residents. Since 2010, Oklahoma’s MSA has grown 19% and GDP has grown 26%. Based on a sample from the Greater Oklahoma City Chamber, three out of four graduates from Oklahoma universities are found to be working in Oklahoma five years after graduation.

OKC ranks fifth lowest in cost of living among U.S. urban areas, ranked No. 1 lowest unemployment rate among large metros (2.3%), has received the highest possible bond rating for 17 years in a row (AAA rating from S&P Global, Aaa rating from Moody’s Investors Service),the ninth most affordable child-raising costs in the United States, and more, highlighting the city’s attractiveness to invest, live, work, and play.

Investment highlights

1.49 WALT remaining and fully occupied

Mark-to-market opportunity

Densely-populated trade area with favorable consumer spending and demographics

National tenants nearby include Chick Fil A, CRUNCH Fitness, Hobby Lobby, Living Spaces, OnCue, Starbucks, Panda Express and more

61% below replacement cost of $453/sf

Listing Contacts

NB
OK 183740
GS
OK 140822
Wiggin Properties LLC
IS
Wiggin Properties LLC Corporate
Listed by Wiggin Properties LLC, Wiggin Properties LLC Corporate

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Additional Information

Name
Nick Bentley
License
183740
Brokerage
Wiggin Properties
Brokerage Phone
4058420100
Title
Broker
Brokerage Address
5801 Broadway Extension Highway
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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