Hal Muldrow Retail Center
$2,700,000
203 Hal Muldrow Dr, Norman, OK 73069
For Sale
Retail
Strip Center
Active
Last Updated: 11/04/2025
19,455 sqft
Building Size
0.81 acres
Lot Area
Details:
Building Size: 19,455 sqft
Lot Area: 0.81 acres
Occupancy: 100%
Units: 10
Year Built: 1974
Floors: 1
Highlights:
- All leases are month-to-month at rates far below market rents
- Value add opportunity to increase rents to near market
- 9% + cap rate potential based off conservative pro forma model
- Tenant mix includes long-term, highly revered community businesses
- Well maintained property with little deferred maintenance
- Traffic count of over 26,000 vpd along W. Main St.
Description:
Fully occupied retail strip center located amongst Norman's busiest retail corridor, 24th Ave SW and W Main St. This legacy property has been well-maintained and owned by the same family since 1987. The property presents an excellent value-add opportunity as lease rates have remained far below market. By increasing rents, which could be done immediately as all leases are month-to-month, 9%+ cap rate are reasonable to expect based off of conservative rent estimates. Tenancy includes several long-standing, well known businesses in the Norman community.
Located just of Main Street, immediately east of 24th Ave SW and within 1/4 mile of on/off ramps at I-35.
Documents:
| Title | ||
|---|---|---|
| Offering Memorandum (L) | ||
| Offering_Memorandum__L_.pdf | ||
| Offering_Memorandum__L_.pdf |
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Location
Gallery
