Retail Investment Opportunity in Midwest
For Sale
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5835 SE 15th St, Midwest City, OK 73110
Retail property with strong tenants in a high-traffic location.
Property Size77,574 SF
Price / SF$201.74
Days on Market159
Property Features for 5835 SE 15th St
General Information
Standard status
Active
Size
77,574 SF
Class
B
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$1,070,759
Building Details
Year Built
2016
Buildings
1
Stories
1
Units
5
Tenancy
Multi
Listing Agency:
HMX Realty Advisors
(212) 686-0072
Listed By:
Dan de Sa · License #NY 40DE0945716
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 22 at 10:36AM
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 HMX Realty Advisors
Investment Insights
Based on property information with market context.
This commercial property features Hobby Lobby and Dollar Tree, and is part of the Sooner Rose shopping center. The shopping center is shadow-anchored by Academy Sports + Outdoors, Burlington, and Regal Warren Cinemas. Pad sites include Olive Garden, Whataburger, Chick-fil-A, Wendy's, and Mo’ Bettahs. Fuzzy’s Taco Shop ranks #2 out of 101 locations nationally. The developer contributed only $50 psf to the Hobby Lobby building resulting in a low build to suite rent of 9.25 psf. The shopping center ranks in the top 5% of all community shopping centers nationwide, drawing 5.1 million visits annually. As of March 1, 2026, the investment features a 7.2-year weighted average lease term. 64% of the center's income is investment grade or equivalent, and 91% of the income is corporate-backed. The property is located on SE 15th Street, the primary retail corridor of Midwest City within the Oklahoma City MSA, across from Home Depot and near the state’s top-ranked Walmart Supercenter. It is also two miles from Tinker Air Force Base, Oklahoma's largest single-site employer with 61,000 jobs. The base’s economic impact has grown from $4.5 billion in 2023 to $7.5 billion following expansions, including a new 131-acre site for the new B-21 Stealth Raider fleet and a recent 845,000-square-foot Pratt & Whitney facility. Rose State College, with 9,500 students and faculty, is located immediately to the south. The property size is 77574 square feet.
Key Highlights
- Located in the top 5% of community shopping centers nationwide, attracting 5.1 million annual visits.
- Strong tenant mix with 91% of income corporate‑backed and 64% investment grade or equivalent.
- Prime location on the primary retail corridor of Midwest City, directly across from Home Depot and near the top‑ranked Walmart Supercenter.
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
$818,802
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
5.23%
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%
$16,376,040
$16.4M
Cap Rate 7%
$11,697,171
$11.7M
Cap Rate 9%
$9,097,800
$9.1M
Market Conditions
NOI Build-Up for 77,574 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
$1.29M $16.68/SF
− Vacancy
−$124.2K −$1.60/SF
EGI
$1.17M $15.08/SF
− OpEx
−$350.9K −$4.52/SF
NOI
$818.8K $10.56/SF
Area
Oklahoma County, OK
Vacancy
9.60%
Lease Rate
$16.68 /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%
$16,376,040
Cap Rate 7%
$11,697,171
Cap Rate 9%
$9,097,800
Alternative Uses
Best Use
Retail
$11.70M
$10.24M – $13.65M
NOI $818,802 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.16M
$14.14M – $18.85M
NOI $1,131,007 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
6k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
6,285 visits/mo
0.1 miles
Demographics for 73110, OK
33,156
Population
15,826
Households
2.1
Avg Household Size
35
Median Age
20%
College-Educated
91%
High-School Grad
15.5 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,436
Median Household Income
$35,043
Median Earnings
$1,007
Median Rent
$119,900
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 - Retail property with strong tenants in a high-traffic location.
Where is this shopping center located?
The property is located at 5835 SE 15th St Midwest City, OK.
What is the asking price?
The asking price for this property is $15,650,000.
What are key features of this property?
This property features: Located in the top 5% of community shopping centers nationwide, attracting 5.1 million annual visits.; Strong tenant mix with 91% of income corporate‑backed and 64% investment grade or equivalent.; Prime location on the primary retail corridor of Midwest City, directly across from Home Depot and near the top‑ranked Walmart Supercenter.
