Walnut Square | True Value - Add Opportunity

2207 W Interstate 240 Service Road
Oklahoma City, Oklahoma 73159
south Oklahoma City, OK retail shopping center & pad sites for sale aerial
Price
$22,000,000
Total Square Feet
309,023

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Description

This is a true value-add opportunity: Above market vacancy provides lease-up  value;  below  market  rents  will  provide  the  opportunity  to enhance revenue overtime. Two developable pad sites give additional upside,  and  owner  participates  in  revenue  for  the  entertainment concept.

Completed  in  1970 and  renovated  in  2016.  this  309,023  square  foot center  is  situated on  32.74  acres.  The  center  is  84%  occupied  and anchored  by  tenants  such as Hobby Lobby,  Big Lots, dd’s  Discounts, Outback, Fed Ex, Vintage Stock and Green Acres Market.


Located  on  I-240  Service  Road  the  center  is  visible  and  accessible to over 100,000 cars a day. Other national retailers in the immediate area  include  Ross  Dress  for  Less,  Half  Price Books,  Best  Buy,  Conns, Marshalls,  Lane  Bryant,  Mardel’s  Christian  Book  Store,  Five Below, Dollar Tree and more.  The  property  pulls  from  more  than  200,000 residents within five miles from the property.

Tenants  are  operating   as   NNN   tenants.   Tenants   pay   a   monthly estimated  amount for  Taxes,  CAM  and  Insurance  and  are  adjusted annually.  Anchor  tenant leases  are secured  through  dates  ranging from November 2025 to March of 2029.  The center is occupied with 259,994 square feet of tenants that provide a steady source of income. The center’s 50,529 square feet of vacant space is an excellent opportunity to create additional value to the property with an aggressive leasing plan.

The center has two pad sites for development or to sell.    The first site is 50,000 square feet priced at $900,000 and is located along I-240.  

The second site is located on the north side of the center with approximately 62,500 square feet and is priced at $312,500. The site is ideally suited for industrial or self-storage. 

Grocery / Hobby Lobby Anchored Center
Rare opportunity to acquire a grocery and a Hobby Lobby anchored center.

Value-Add Component
Below market rents and twenty percent vacancy , padsite development opportunities, and the ability to share in the entertainment venue revenue, makes for a true
value add investment.


Excellent Retail Area Density
Walnut Square is in the middle of South Oklahoma City’s robust retail corridor.


Stable Anchor Tenants
The average anchor tenant has occupied space at the center for over 10 years.


Excellent Interstate Visibility
With over 100,000 cars per day along Interstate 240, Walnut Square has a tremendous amount of exposure

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