Hal Muldrow Retail Center
Retail | 19,455 SqFt
Marketing description
Fully occupied retail strip center located amongst Norman's busiest retail corridor, 24th Ave SW and W Main St. This legacy property has been well-maintained and owned by the same family since 1987. The property presents an excellent value-add opportunity as lease rates have remained far below market. By increasing rents, which could be done immediately as all leases are month-to-month, 9%+ cap rate are reasonable to expect based off of conservative rent estimates. Tenancy includes several long-standing, well known businesses in the Norman community.
Investment highlights
All leases are month-to-month
Value add opportunity to increase rents to near market
9% + cap rate potential based off conservative pro forma model
Tenant mix includes long-term, highly revered community businesses
Well maintained property with little deferred maintenance
Traffic count of over 26,000 vpd along W. Main St.
Signal at intersection
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