1701 Milt Phillips AveSeminole, OK 74868

Property Details for 1701 Milt Phillips Ave

Year built

1975

Lot size

7.27 AC

Property size (Sq ft)

66,884 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 66,884 square foot shopping center in Seminole, Oklahoma, presents a compelling value-add investment opportunity. Located at 1701 N Milt Phillips Ave, this single-story, 7-unit property boasts 100% occupancy and a strong net operating income (NOI) of $256,862, yielding an 8.56% cap rate at an asking price of $3,000,000. Built in 1975, the property sits on a 7.27-acre lot with ample parking (386 spaces). The price per square foot is $44.85, significantly below replacement cost. The property benefits from excellent visibility and accessibility on N Milt Phillips Ave and Hwy 270, a major corridor with numerous well-known neighboring businesses including Taco Bell, Dollar Tree, and others. Rent bumps are available, offering further upside potential. The land value alone is $9.47 per square foot. This property offers a rare chance to acquire a high-performing asset in a prime location with potential for future expansion. The net lease structure provides a stable income stream. This is a truly remarkable investment opportunity in Seminole, Oklahoma.

Location Insight

City

Seminole

County

Seminole

State

Oklahoma

Latitude

35.2396

Longitude

-96.6723

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