NW Sheridan Rd Properties Retail FOR SALE


Lawton, OK
$6,099,000 USD
405-790-0404
, Lawton, OK for Sale
$6,099,000 USD
Retail - FOR SALE
1/10
null | 6.67% Cap Rate

NW Sheridan Rd Properties
Lawton, OK


HIGHLIGHTS

  • The shopping center is 82.65% leased out to Staples, Aaron's & US Cellular all national tenants with an average tenure of 24 years
  • US Cellular and Aaron's recently went thru their new store design & brand changes which was a significant investment on their part
  • Site improvements include asphalt paving, parking lot lighting and pole mounted signage. New TPO roof over Staples and Aaron's in 2024
  • NOI and Cap Rate can be increased by securing a triple net tenant for the 4,226/SF vacant space between Aaron's and US Cellular
  • Located on former Indian Reservation land qualifies this property for an accelerated asset depreciation rate (consult with a CPA or Tax Advisor
  • Self manageable with 5 to 6 tenant spaces

OVERVIEW

12.5.2024 O/M is being updated with new 1205 tenant data and updated financial data and will be available NLT Friday 12.6.2024...Sheridan Rd Shopping Center in Lawton, Oklahoma built in 1999/2000 and remodeled in 2021 sets on 3.01 acres and has a gross leasable area of approximately 36,866 SF anchored by Staples Office Supplies and complimented by national chain tenants Aaron's and US Cellular. These 3 tenants account for 83.65% of the GLA and have an average tenancy tenure of 24 years. Locally owned and operated Mango Cannabis completes the current tenant roll leaving one 4,226/SF ± white box vacant space between Aaron's and US Cellular available for a value add opportunity (see updated rent roll in data room documents for current status of a potential vacant space Tenant pending lease execution)

ASK ABOUT THIS PROPERTY

Dave ShannonAndy Janko RealtyMore Info
405-790-0404

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Dave ShannonAndy Janko RealtyMore Info
405-790-0404

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