1801-1815 S Air Depot Blvd, Midwest City, Oklahoma 73110
Retail | 4.67% CAP | 9,552 SqFt
Marketing description
Value-add neighborhood retail strip located on S Air Depot Blvd in Midwest City. The property consists of approximately 9,552 SF situated on a ±0.78-acre parcel with strong street frontage and direct access. Fully occupied with eight local service and retail tenants on modified gross leases, providing stable in-place income with upside through rent growth and lease restructuring. Built in 1955, the center features surface parking and a functional unit mix serving the surrounding residential and commercial area. Offered as a Class C investment opportunity with current in-place NOI and long-term redevelopment or repositioning potential. Buyer to verify all financials, square footage, and zoning.
Investment highlights
Fully Occupied Retail Strip – 100% leased to eight local service and retail tenants
In-Place Income—Current annual rent of approximately $103,740 with in-place NOI around $75,000
Value-Add Opportunity – Below-market rents at approximately $10.86/SF annually with upside through rent increases and lease restructuring
Modified Gross Leases—Opportunity to improve NOI by shifting expenses or implementing partial pass-throughs over time
Strong Visibility & Access—Located on S Air Depot Blvd with direct frontage and easy ingress/egress
Functional Unit Mix – Approximately 9,552 SF with suite sizes well-suited for neighborhood retail and service users
Longer-Term Leases in Place—Several tenants with lease terms extending into 2026–2029
Land Component—Situated on approximately 0.78 acres, providing future redevelopment or repositioning potential
Class C Neighborhood Retail – Attractive pricing relative to replacement cost and land value
Stable Local Tenant Base – Service-oriented businesses supporting recurring demand in the surrounding trade area
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