For Sale
$2,900,000

2212 23Rd St Oklahoma City, OK 73107

8-Unit Shopping Center, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional 16,775 square foot shopping center, located at 2212 NW 23rd St, Oklahoma City, OK 73107, presents a compelling investment opportunity. Priced at $2,900,000, it boasts a strong 7.19% cap rate and a Net Operating Income (NOI) of $208,391. Currently 83.31% occupied with eight tenants, including established businesses like 23rd Liquor and Wing Stop, this multi-tenant property offers immediate cash flow and significant upside potential. The property underwent renovations in 2024 and features a price per square foot of $172.88. Its prime location on NW 23rd Street provides high visibility and easy access to major highways, maximizing exposure to substantial traffic counts. Below-market rents present a clear path to increased revenue through future lease adjustments. Seller financing is available. This property is an excellent addition to any portfolio seeking strong returns in a thriving Oklahoma City market. The property's current average rent is $15.03 per square foot. Further details regarding rent bumps are available in the offering memorandum.

Highlights

  • 16,775 SF shopping center in Oklahoma City, OK, priced at $2,900,000.
  • 7.19% cap rate and $208,391 NOI.
  • 83.31% occupancy with eight tenants, including 23rd Liquor and Wing Stop.
  • 2024 renovations, $172.88/SF price.
  • Prime NW 23rd St location with high visibility and access to major highways.
  • Below-market rents offer significant upside potential.

Property Details for 2212 23Rd St

Property type
Lifestyle centers, Power centers
Square Feet
16,775 SF
Year Renovated
2024
Units
8

Location Insight

City
Oklahoma City
County
Oklahoma
State
Oklahoma
Latitude
35.493166976624
Longitude
-97.550403216052

FAQs

What type of property is this?
Lifestyle center - 8-Unit Shopping Center, High ROI
Where is the lifestyle center located?
The property is located at 2212 23Rd St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 16,775 SF shopping center in Oklahoma City, OK, priced at $2,900,000.; 7.19% cap rate and $208,391 NOI.; 83.31% occupancy with eight tenants, including 23rd Liquor and Wing Stop.
How can I contact the broker?
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2212 23Rd St
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