1601-1623 E Jackson St - Retail FOR SALE


Hugo, OK 74743
$3,723,500 USD
972-755-5225
1601-1623 E Jackson St, Hugo, OK for Sale
$3,723,500 USD
Retail - FOR SALE
1/15
null | 8.25% Cap Rate

1601-1623 E Jackson St
Hugo, OK 74743


HIGHLIGHTS

  • 87,477-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
  • Anchored by Tractor Supply (47% of the GLA) | Approximately Eight Years Remaining on the Primary Term
  • 29% of the GLA is a New Eight-Year Lease with Ollie's Bargain Outlet

OVERVIEW

Marcus & Millichap is pleased to offer the opportunity to acquire a 87,477-square-foot, multi-tenant retail center located in Hugo, Oklahoma. The subject property is 100 percent leased, and the majority of the leases are on gross terms providing significant upside potential. The center is anchored by Tractor Supply, occupying 47 percent of the leasable area and having triple-net terms. Ollie's Bargain Outlet will be occupying the 25,217-square-foot suite on a new eight-year term. Other tenants are a complementary mix of service-oriented businesses and retailers, including Sun Loan Company, Hugo Tag Agency, Vape Shop, Sharpe's Department Store, and a ground lease to Twice The Ice Kiosk. Originally constructed in 1975, the property is situated on two acres totaling 7.93 acres with ample concrete parking. Choctaw Plaza is located on East Jackson Street with multiple ingress and egress points. Traffic counts in front of the property exceed 8,726 vehicles per day. Shadow-anchored by Walmart Supercenter, the subject property is near other national and regional retailers including Dollar General, Taco Bell, Dollar Tree, McDonald's, Pruett's Food, KFC, US Cellular, Sonic Drive-In, Cricket Wireless, O'Reilly Auto Parts, Subway, and many more. The 10-mile population is approximately 10,059 residents having an average household income of $55,443.

FOR SALE DETAILS

PRICE

$3,723,500 USD

PRICE/SF

$43 USD /SF

CAP RATE

8.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Choctaw Shopping Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

195

LAND DETAILS

LAND ACRES

7.93 AC

LAND SF

345,431 SF

ZONING

C

APN/PARCEL ID

3199-26-006-017-1-003-00

ASK ABOUT THIS PROPERTY

Philip LevyMarcus & MillichapMore Info
972-755-5225

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Philip LevyMarcus & MillichapMore Info
972-755-5225

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.