Corporate-Backed NNN Ground
For Sale
Contact for pricing
5050 North May Avenue, Oklahoma City, OK 73112
2023 improvements combine convenience retail and an auto wash at a signalized corner.
Property Size10,396 SF
Price / SF$461.72
Days on Market53
Property Features for 5050 North May Avenue
General Information
Standard status
Active
Size
10,396 SF
Property subtype
Retail
Occupancy
100%
Net Operating Income
$264,000
Site & Location
Traffic Count
41,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2023
Stories
1
Listing Agency:
SHOP Companies
Listed By:
Jason Little · License #OK 145918
Source:
Crexi
Added: Aug 26
Changed: Oct 12
Last Checked: Oct 16 at 9:33AM
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 SHOP Companies
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Investment Insights
Based on property information with market context.
This fee-simple interest encompasses an unsubordinated ground lease supporting Domino Food & Fuel and Xtreme Auto Wash. The 10,396-square-foot property was constructed in 2023 and operates under a corporate-backed lease with 11.7 years remaining in the initial term. Scheduled rent increases include 5.0% in 2028 and 10.0% every five years thereafter, with five five-year renewal options extending the potential term through 2063. The lease assigns no landlord responsibilities.
Located at 5050 North May Avenue in Oklahoma City, the property occupies the signalized intersection of NW 50th Street and N May Avenue, with 41k+ VPD. Target, Home Depot, Lowe’s, and Sam’s Club are within 0.77 miles, and the site has cross-access to the redeveloped Mayfair Shopping Center. The surrounding trade area is bounded by Northwest Expressway, I-44, and Lake Hefner Parkway, carrying 39k+ VPD, 97k+ VPD, and 119k+ VPD, respectively.
More than 101,000 residents live within three miles, while the five-mile daytime population exceeds 360,000. INTEGRIS Baptist Medical Center is less than one mile away and includes 9,000 employees and 508 beds.
Located at 5050 North May Avenue in Oklahoma City, the property occupies the signalized intersection of NW 50th Street and N May Avenue, with 41k+ VPD. Target, Home Depot, Lowe’s, and Sam’s Club are within 0.77 miles, and the site has cross-access to the redeveloped Mayfair Shopping Center. The surrounding trade area is bounded by Northwest Expressway, I-44, and Lake Hefner Parkway, carrying 39k+ VPD, 97k+ VPD, and 119k+ VPD, respectively.
More than 101,000 residents live within three miles, while the five-mile daytime population exceeds 360,000. INTEGRIS Baptist Medical Center is less than one mile away and includes 9,000 employees and 508 beds.
Key Highlights
- 10,396‑square‑foot improvements constructed in 2023
- 11.7 years remain on the initial lease term
- Five five‑year renewal options may extend the term through 2063
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$248,880
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,977,600
$5.0M
Cap Rate 7%
$3,555,429
$3.6M
Cap Rate 9%
$2,765,333
$2.8M
Market Conditions
NOI Build-Up for 10,396 SF
Gross rent
$349.3K $33.60/SF
− Vacancy
−$17.5K −$1.68/SF
EGI
$331.8K $31.92/SF
− OpEx
−$83.0K −$7.98/SF
NOI
$248.9K $23.94/SF
Area
Oklahoma City, OK
Vacancy
5.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,977,600
Cap Rate 7%
$3,555,429
Cap Rate 9%
$2,765,333
Alternative Uses
Best Use
Specialty Retail
$3.56M
$3.11M – $4.15M
NOI $248,880 @ 7.0% cap · market cap 5.19%
Second Best
Retail
$2.93M
$2.57M – $3.42M
NOI $205,217 @ 7.0% cap · market cap 4.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
41,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,773
Businesses Nearby
320k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 40%
Dining 23%
Shops & Services 22%
Groceries 7%
Target
Superstores
129,473 visits/mo
0.2 miles
Michaels
Shops & Services
35,483 visits/mo
0.0 miles
Whataburger
Dining
26,844 visits/mo
0.3 miles
Aldi
Groceries
22,434 visits/mo
0.1 miles
Jack in the Box
Dining
17,222 visits/mo
0.2 miles
Demographics for 73112, OK
31,113
Population
16,413
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
7.6 sq mi
ZIP Area
4,094
Density / Sq Mi
$57,833
Median Household Income
$39,641
Median Earnings
$1,030
Median Rent
$173,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Oklahoma City, OK
Frequently Asked Questions
What type of property is this?
NNN property - 2023 improvements combine convenience retail and an auto wash at a signalized corner.
Where is this nnn property located?
The property is located at 5050 North May Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 10,396‑square‑foot improvements constructed in 2023; 11.7 years remain on the initial lease term; Five five‑year renewal options may extend the term through 2063
