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29726302
29726303

1120 S Douglas Blvd, Midwest City, OK 73130

Price Edwards & Company Oklahoma City
Price Edwards & Company Oklahoma City
Listed by Price Edwards & Company Oklahoma City
$3,700,000
110 days on market
Updated 37 days ago

Regional Square

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 14,419
NOI $189,913
Price per SqFt $257
Ground Lease No

Retail | 14,419 SqFt

Marketing description

Regional Square is a neighborhood shopping center on Douglas Boulevard in Midwest City,. The center is anchored by Smiling Faces Pediatric Dentistry on a longterm lease running through 2041, backed by a stable roster of medical and service tenants on gross leases. Olsen Orthopedic, TFI Family Connections, and Cuts and Culture round out the occupied space, with a weighted average remaining lease term of more than five years. Two vacant suites present a clear value-add opportunity. The former PT clinic space can be divided to suit smaller users, and a second retail-ready suite is available for immediate occupancy. Market demand from medical, service, and fitness tenants along the Douglas corridor supports near-term lease-up.

Regional Square sits at 1120 S Douglas Boulevard, just north of SE 15th Street on one of Midwest City's primary north-south commercial corridors. The site has direct frontage on Douglas with a combined daily traffic count exceeding 42,000 vehicles. The road recently completed a $2.7 million federally funded improvement project that added new concrete surfacing, drainage, sidewalks, and pedestrian crossings. Tinker Air Force Base is less than two miles south. It's the largest single-site employer in Oklahoma with over 27,000 workers and an annual regional economic impact of $7.5 billion. New missions tied to KC-46A Pegasus maintenance and B-21 Raider sustainment continue to drive job growth at the base, and those employees use Douglas Boulevard daily to reach the north gate. The Bowling Green Medical Center complex sits directly across the street, creating a medical services cluster that makes the center's vacant clinical space especially marketable. Nearby retailers include Walgreens, and the broader Douglas corridor is seeing active investment from the city, which recently rezoned nearly 40 acres at Douglas and SE 29th for new entertainment, restaurant, and retail development. Western Oklahoma State College and Rose State College are both nearby, adding to the daytime population base. Midwest City's trade area is dense for a suburban Oklahoma market. Average household incomes within one mile exceed the metro median, and the residential base within three miles is well established. The property is less than a mile from I-40.

Investment highlights

Sale Price: $3,700,000

Lot Size: 1.37 Acres

Building Size: 14,419 SF

NOI: $189,913.38

Listing Contacts

Price Edwards & Company Oklahoma City
Price Edwards & Company Oklahoma City
Listed by Price Edwards & Company Oklahoma City

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$189,913.00
$15,826.08/mo

Valuation Metrics

0
DSCR
5.13%
Cap Rate
5.13%
ROI

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