Hal Muldrow Retail Center

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.

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