1205 Sheridan Rd Lawton, OK 73505

This exceptional Lawton, Oklahoma shopping center presents a compelling investment opportunity. The 36,866 square foot property, built in 1999/2000 and renovated in 2021, sits on a 3.01-acre lot and boasts a desirable location at 1205 & 1217 NW Sheridan Rd, zip code 73505. Currently 88.52% occupied, the center features four tenants, including national anchors Staples, Aaron's, and US Cellular, representing 83.65% of the gross leasable area and boasting an average tenancy of 24 years. Recent renovations by Aaron's and US Cellular, including new store designs, underscore their commitment. The property benefits from recent improvements including asphalt paving, parking lot lighting, pole-mounted signage, and a new TPO roof (Staples & Aaron's, 2024). A 4,226 square foot vacant space offers a significant value-add opportunity to increase NOI and cap rate. The property's location on former Indian reservation land may qualify for accelerated depreciation (consult a tax advisor). With a current NOI of $406,698 and a pro-forma NOI of $451,495, the asking price is $6,099,000, representing a 6.67% cap rate and a pro-forma cap rate of 7.40%. The property is a fee simple ownership with a NNN lease structure and ample parking (4.3 spaces per 1,000 sq ft). The zoning is C-5. Lease options are available. This easily managed property, with its strong tenant base and value-add potential, is an ideal addition to any portfolio.