Walnut Square | True Value - Add Opportunity
Oklahoma City, Oklahoma 73159
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.
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