139 W Shawnee
$1,800,000
139 W Shawnee St, Summit, OK 74401
9,800 sqft
Building Size
0.961 acres
Lot Area
Details:
Description:
The Offering Memorandum presents 139 W Shawnee as a 9,800 SF modern retail center built in 2016 and positioned within one of Muskogee’s strongest commercial corridors. The property includes three individual units and is currently 60% occupied, offering both stable in-place income and meaningful upside through lease-up of the remaining vacancy. Situated on a 41,859 SF lot, the center benefits from excellent frontage and visibility along W Shawnee Street, which carries a traffic count of 18,300 vehicles per day. The asset is offered at a price of $1,800,000, equating to an attractive $184 per square foot relative to newer construction retail in the market. Financials in the OM show a proforma NOI of $149,056 supported by $173,056,000 in gross rental income and only $24,000 in annual operating expenses. This income profile positions the property at an 8.28% cap rate and a strong projected first-year cash-on-cash return of 32%. The surrounding trade area is anchored by national retailers such as Walmart, Ross, T.J. Maxx, McDonald’s, Red Lobster, Golden Corral, and Bricktown Brewery, all shown on the retailer map). Demographics within a five-mile radius include nearly 37,000 residents with average household incomes approaching $63,000, reinforcing sustained retail demand. With F1 zoning and a contemporary layout, the center is suited for a wide range of retail, restaurant, and service-based tenants seeking modern space in a high-traffic corridor). Overall, the Offering Memorandum highlights 139 W Shawnee as a stable, well-located retail asset with both immediate income and compelling long-term value-add potential in a growing regional market.
Nestled in the heart of Muskogee, the area surrounding the property offers a vibrant blend of commercial and cultural attractions. Within close proximity, investors will find notable points of interest such as the Five Civilized Tribes Museum, the historic Roxy Theater, and the charming Honor Heights Park. Boasting a strong economic base and a rich heritage, Muskogee is renowned for its business-friendly environment and is a prime location for office building investments. With a tranquil yet thriving atmosphere, the location presents an exceptional opportunity for investors seeking to establish a presence in this dynamic and promising market.
Documents:
| Title | ||
|---|---|---|
| Offering_Memorandum_139_W_Shawnee.pdf |
Location
