Listed by Price Edwards & Company Oklahoma City
$4,500,000
Shoppes On The Creek
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 33,650
Cap Rate 8.15%
NOI $366,927
Occupancy 100%
Tenancy Multi
Price per SqFt $134
Year Built 2012
Buildings 2
Acreage 17.530
Investment Type Stabilized
Retail | 8.15% CAP | 33,650 SqFt
Marketing description
Shoppes on the Creek is a 33,650 SF two-building strip center in Seminole, Oklahoma, built in 2012 on 17.53 acres fronting Milt Phillips Avenue (HWY 377). The tenant roster is anchored by national credit names - Dollar Tree, Petsense, Hibbett, Athletico Physical Therapy, SuperCuts, Cricket Wireless, and Empire Finance - accounting for over 80% of the occupied square footage. The center is fully leased with a weighted average remaining lease term that extends into the late 2020s, and several tenants have leases running through 2033.
Investment highlights
- 8.15% cap rate on $366,927 NOI
- $134/SF, well below replacement cost for 2012 construction
- 100% leased, 10 tenants, 33,650 SF across two buildings
- Located at HWY 377/270 interchange, Seminole's busiest intersection
- 17.53 acre site on HWY 377 with 19,000-22,000 VPD traffic counts
- Walmart-anchored retail node with Starbucks, Tractor Supply, McDonald's, Casey's nearby
Listing Contacts
Listed by Price Edwards & Company Oklahoma City
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$366,926.50
$30,577.21/mo
Valuation Metrics
0
DSCR
8.15%
Cap Rate
8.15%
ROI
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