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31245215
31245216

3701 S Harvard Ave, Tulsa, OK 74135

HL
TX TX 724882
Summit Real Estate
JV
TX TX 512565
Summit Real Estate
Summit Real Estate
Listed by Summit Real Estate
$3,760,000
75 days on market
Updated 53 days ago

Harvard Ave Shoppes

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 13,160
Units 8
Cap Rate 7.53%
NOI $283,142
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Price per SqFt $286
Broker Co-Op Yes
Class B
Year Built 1987/2023
Year Renovated 2023
Buildings 2
Stories 1
Acreage 0.880
Ground Lease No

100% Occupied | 2023 Renovation | Heavily Trafficked & Dense Retail Corridor | Midtown Tulsa

Investment highlights

High-Quality 2023 Construction Retail Strip: Recently Built Asset Featuring Modern Design, Strong Curb Appeal, and Limited Near-Term Capital Expenditure Requirements

100% Occupied with Long-Term NNN Leases: Fully Leased with Triple-Net Structures in Place, Providing Passive Ownership and Minimal Landlord Responsibilities

Priced Well Below Replacement Cost at $295/SF: Estimated Replacement Costs Approach $400/SF, Creating a Favorable Basis that Helps Limit Downside Risk

Diverse Mix of National & Regional Tenants: Service-Heavy, Internet-Resistant Tenant Lineup Which Is a Healthy Structure for Neighborhood Strip Retail

Prime Midtown Tulsa Location: Strategically Positioned Along South Harvard Avenue Within One of Tulsa’s Most Established and Heavily Trafficked Retail Corridors

Strong Traffic Counts & Highway Accessibility: Over 40,000 VPD Between Harvard Avenue & 41st Street, as Well as Direct Access to I-44 (108,000 VPD)

Dense Residential Trade Area: Population Is Over 578,000 People Within 10-Miles & Average Household Incomes Exceed $112,000 Supporting Daily Retail Demand

Grocery-Dense Submarket: Positioned Within a 2-Mile Radius of 10 National and Regional Grocers, Including 3 Walmart Neighborhood Markets, Sam’s Club, Whole Foods, Sprouts, Trader Joe’s, ALDI, Natural Grocers, and Reasor’s, which Supports Consistent Consumer Traffic to the Area

Listing Contacts

HL
TX TX 724882
Summit Real Estate
JV
TX TX 512565
Summit Real Estate
Summit Real Estate
Listed by Summit Real Estate

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$283,142.00
$23,595.17/mo

Valuation Metrics

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DSCR
7.53%
Cap Rate
7.53%
ROI

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