508 S Mill St - Freestanding FOR SALE


Pryor, OK 74361
$500,000 USD
918-695-6979
508 S Mill St, Pryor, OK for Sale
$500,000 USD
Freestanding - FOR SALE
1/11
null | 8.88% Cap Rate

508 S Mill St
Pryor, OK 74361


OVERVIEW

Excellent investment property located in the rapidly growing community of Pryor, OK. This is a Prime 4 unit commercial retail space located on Hwy 69 with approx. 324' of Hwy frontage and plenty of off street parking. This property is located on a high traffic count Hwy and is 100% occupied. All units have their own bathrooms and at least 1 CH&A unit. 24 hours notice required to show. Part of the land is owned and part is on lease from the railroad. Current RR lease expires in July, 2025. RR lease going forward is anticipated to be $5,000/yr on an annual renewal. Buyer will be responsible for a $1000 lease transfer fee to transfer the RR lease. Improvements in the last 5 years include: Exterior Paint, Roof Resealed, Exterior lights, some interior lights and parking lot repaved, interior ceiling tile replacement. Owner pays water bill Each tenant pays electric bill Gas is metered separately so owner can bill each tenant. 4 Rental Units 1. Approx 1000 sqft, Month to month rental 2. Approx 3000 sqft Month to month CH&A replaced approx. 2021 3. Approx 3000 sqft 1 year lease starting May, 2023 2 CH&A units 4. Approx 4000 sqft Month to month 2 CH&A units 1 unit replaced approx. 2015

FOR SALE DETAILS

PRICE

$500,000 USD

PRICE/SF

$45 USD /SF

CAP RATE

8.88%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,117 SF

ZONING

-

APN/PARCEL ID

1599-18-21N-19E-3-016-00

ASK ABOUT THIS PROPERTY

David RobertsColdwell Banker SelectMore Info
918-695-6979

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David RobertsColdwell Banker SelectMore Info
918-695-6979

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