NNN Retail Center with Two
For Sale
Contact for pricing
4110 W Owen K Garriott Rd, Enid, OK 73703
33,357 SF fully leased NNN retail center anchored by pOpshelf and Burke's Outlet (Bealls Inc.).
Property Size33,357 SF
Price / SF$127.41
Days on Market62
Property Features for 4110 W Owen K Garriott Rd
General Information
Standard status
Active
Size
33,357 SF
Class
C
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$317,151
Building Details
Year Built
1975
Tenancy
Multi
Listing Agency:
Creek Price Edwards
Listed By:
Aden Struble · License #209339
(405) 210-3910
Source:
Crexi
Added: Jul 8
Changed: Sep 4
Last Checked: Sep 7 at 3:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Creek Price Edwards
Investment Insights
Based on property information with market context.
Enid Plaza is a 33,357 SF multi-tenant retail center leased on an NNN basis. The property is fully occupied and benefits from two nationally backed retailers operating as anchors, including pOpshelf on a fresh 10-year term and Burke's Outlet (Bealls Inc.), which is committed through 2033 with multiple renewal options extending to 2058.
The center is located along W Owen K Garriott Road, one of Enid’s primary east-west retail corridors, and sits within an established retail node with surrounding national and regional draws.
With long-term tenant commitments in place and 100% occupancy, Enid Plaza is positioned as a stabilized retail asset with minimal landlord responsibilities tied to an NNN structure.
The center is located along W Owen K Garriott Road, one of Enid’s primary east-west retail corridors, and sits within an established retail node with surrounding national and regional draws.
With long-term tenant commitments in place and 100% occupancy, Enid Plaza is positioned as a stabilized retail asset with minimal landlord responsibilities tied to an NNN structure.
Key Highlights
- 33,357 SF multi‑tenant retail center fully leased on a NNN basis
- Anchored by pOpshelf on a fresh 10‑year term
- Second anchor: Burke's Outlet (Bealls Inc.) committed through 2033 with renewal options to 2058
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$338,222
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,764,440
$6.8M
Cap Rate 7%
$4,831,743
$4.8M
Cap Rate 9%
$3,758,022
$3.8M
Market Conditions
NOI Build-Up for 33,357 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$504.4K $15.12/SF
− Vacancy
−$21.2K −$0.64/SF
EGI
$483.2K $14.48/SF
− OpEx
−$145.0K −$4.35/SF
NOI
$338.2K $10.14/SF
Area
Garfield County, OK
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,764,440
Cap Rate 7%
$4,831,743
Cap Rate 9%
$3,758,022
Alternative Uses
Best Use
Retail
$4.83M
$4.23M – $5.64M
NOI $338,222 @ 7.0% cap · market cap 7.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.19M
$8.04M – $10.72M
NOI $643,048 @ 7.0% cap · market cap 15.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
13k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 38%
Carl's Jr.
Dining
7,876 visits/mo
0.2 miles
Conoco
Shops & Services
4,727 visits/mo
0.2 miles
Demographics for 73703, OK
30,376
Population
13,610
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
93%
High-School Grad
114.1 sq mi
ZIP Area
266
Density / Sq Mi
$74,202
Median Household Income
$41,860
Median Earnings
$1,039
Median Rent
$191,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - 33,357 SF fully leased NNN retail center anchored by pOpshelf and Burke's Outlet (Bealls Inc.).
Where is this shopping center located?
The property is located at 4110 W Owen K Garriott Rd Enid, OK.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 33,357 SF multi‑tenant retail center fully leased on a NNN basis; Anchored by pOpshelf on a fresh 10‑year term; Second anchor: Burke's Outlet (Bealls Inc.) committed through 2033 with renewal options to 2058
