For Sale
$2,800,000

2110 Oklahoma Ave Woodward, OK 73801

Grocery-anchored retail center, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
133
Invest in the Westgate Shopping Center, a thriving 62,474 square foot multi-tenant retail property situated on a 5.09-acre lot in Woodward, Oklahoma. This prime location on US Route 412 boasts approximately 18,500+ vehicles per day. The center features a strong tenant mix including United Supermarkets, a long-standing anchor tenant with over 50 years of operation, and Harbor Freight Tools, a national retailer recently signed to a new 10-year lease. Other tenants include the Department of Human Services, Woodward Pharmacy, and Anytime Fitness, creating a diverse and stable income stream. The property benefits from a recently completed renovation and offers a 7.37% cap rate with a net operating income (NOI) of $206,366 and an asking price of $2,800,000 ($44.82/sq ft). The property's location will further benefit from a planned $250 million highway project connecting Woodward to Interstate 40, enhancing accessibility and supporting future business growth. The large lot size presents potential for future outparcel development. This newly renovated, grocery-anchored shopping center offers a compelling investment opportunity with low downside risk and significant long-term upside potential, well below replacement cost. The property's address is 2110 Oklahoma Ave, Woodward, OK 73801, APN 0001-00-069-001-0-000-00.

Highlights

  • Grocery-anchored shopping center with immediate value-add potential. United Supermarket anchors the center.
  • Harbor Freight occupies a newer 10-year corporate lease.
  • Below-market leases with a diverse tenant mix offer significant upside potential.
  • United Family, a strong Midwest grocery chain, anchors the center with high sales volume.
  • Excellent location on Hwy 412, the main retail corridor, serving a large trade area.
  • 5.09-acre site with outparcel opportunity, situated along a new highway path from Oklahoma City.

Property Details for 2110 Oklahoma Ave

Property type
Lifestyle centers, Power centers
Square Feet
62,474 SF
Lot Size (sq. ft)
221,720 SF

Location Insight

City
Woodward
County
Woodward
State
Oklahoma
Latitude
36.4349384
Longitude
-99.406817

FAQs

What type of property is this?
Lifestyle center - Grocery-anchored retail center, high ROI.
Where is the lifestyle center located?
The property is located at 2110 Oklahoma Ave Woodward, OK.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Grocery-anchored shopping center with immediate value-add potential. United Supermarket anchors the center.; Harbor Freight occupies a newer 10-year corporate lease.; Below-market leases with a diverse tenant mix offer significant upside potential.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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2110 Oklahoma Ave
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