Single-Story Strip Mall
601-603 NW 23rd St Oklahoma City, OK 73103
For Sale
Contact for pricing
For sale strip mall investment is 100% occupied and reported with a 7.61% cap rate.
Property Size14,000 SF
Price / SF$267.86
Days on Market174
Property Features for 601-603 NW 23rd St
General Information
- Standard status
- Active
- Size
- 14,000 SF
- Property subtype
- RETAIL
Listing Agency:
NAI RED Commercial Real Estate
(405) 760-5327
Listed By:
Nathan Wilson · License #152924
(405) 760-5327
Source:
Moodyscre
Added: Feb 3
Changed: Jul 25
Last Checked: Jul 26 at 1:50PM
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 NAI RED Commercial Real Estate
Investment Insights
Based on property information with market context.
This for-sale strip mall investment is reported as 100% occupied. The offering also includes a reported 7.61% cap rate.
The property is located on 23rd Street. An Offering Memorandum is available upon request for qualified parties.
The property is located on 23rd Street. An Offering Memorandum is available upon request for qualified parties.
Key Highlights
- 100% occupied strip mall investment
- Reported 7.61% cap rate
- Uptown Oklahoma City investment
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $420.0k | $30.00 |
| − Vacancy | −$25.2k | −$1.80 |
| EGI | $394.8k | $28.20 |
| − OpEx | −$118.4k | −$8.46 |
| NOI | $276.4k | $19.74 |
14,000 SF · lease $30.00/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.95M
$3.45M – $4.61M
NOI $276,360 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.79M
$4.19M – $5.59M
NOI $335,160 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Strip malls
FAQs
What type of property is this?
Strip mall - For sale strip mall investment is 100% occupied and reported with a 7.61% cap rate.
Where is this strip mall located?
The property is located at 601-603 NW 23rd St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 100% occupied strip mall investment; Reported 7.61% cap rate; Uptown Oklahoma City investment
