Hilltop Village Shopping Center

Highlights:

• ---- $200,000 ROOF CREDIT AT CLOSING ----
• Roof credit based on full price offer. Can either take off purchase price or be provided with credit at closing
• 86,600sf
• 443 parking spaces
• Five (5) Buildings
• Nearly nine (9) acres
• True community center- important asset to municipal area
• 23,486 vehicles per day (ACOG) on Air Depot in front of center
• Many long term tenants
• Recently remodeled
• New pylon sign
• SO MUCH UPSIDE
• 8% cap rate as priced with 22% vacancy
• Average GROSS Rent- $8.69 per sf on current leases

Description:

Hilltop Village Shopping Center is a well-positioned retail plaza featuring five buildings and covering 8.7+/- acres. Located on historic Air Depot in Midwest City, the property resides just 1.3 miles from the main entrance to Tinker Air Force Base and boasts one of the top five traffic counts within the municipality with over 23,000 vehicles per day passing by it each day. Hilltop Village is situated next to Midwest City High School (1,326 students) and Mid-Del Technology Center (665 students) which provides built in traffic patterns for local retailers to take advantage of.

Priced at an 8% cap rate based on actuals while still boosting potential for another $150,000 to $190,000 in gross rents though easing vacant units, the center is primed for a renaissance. With nearly 19,000 sf still vacant, an investor will find the opportunity to realize major gains in annual rent through some small improvements and lease-up. For a long-term holder, this asset presents very real upside while the current rent structure also helps to "recession proof" the property due to such low rents.

::: UPDATE ::: Owner has agreed to provide a $200,000 credit at closing for roof replacement/ repair (based on a full price offer).

Discover the vibrant community surrounding Hilltop Village in Midwest City, OK. This bustling area offers a prime location for retail and neighborhood center investors and tenants while boasting the third highest traffic count in Midwest City. With close proximity to Interstate 40 and Tinker Air Force Base, the largest single-site employer in Oklahoma, and neighboring retail anchors like Walmart, Target, and Lowe's, the area boasts a steady flow of visitors and residents. Additionally, the nearby Reed Conference Center and Rose State College provide ample opportunities for customer traffic and community engagement. The location's strong demographics and convenient access to major highways make it an ideal place for businesses to thrive and serve the surrounding neighborhoods.

11 Spaces Available

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