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    1205 Sheridan Rd Lawton, OK 73505

    For Sale
    $6,099,000

    Multi-tenant retail center, strong NOI.

    Property size:
    36,982 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional Lawton, Oklahoma shopping center presents a compelling investment opportunity. The 36,866 square foot property, built in 1999/2000 and renovated in 2021, sits on a 3.01-acre lot and boasts a desirable location at 1205 & 1217 NW Sheridan Rd, zip code 73505. Currently 88.52% occupied, the center features four tenants, including national anchors Staples, Aaron's, and US Cellular, representing 83.65% of the gross leasable area and boasting an average tenancy of 24 years. Recent renovations by Aaron's and US Cellular, including new store designs, underscore their commitment. The property benefits from recent improvements including asphalt paving, parking lot lighting, pole-mounted signage, and a new TPO roof (Staples & Aaron's, 2024). A 4,226 square foot vacant space offers a significant value-add opportunity to increase NOI and cap rate. The property's location on former Indian reservation land may qualify for accelerated depreciation (consult a tax advisor). With a current NOI of $406,698 and a pro-forma NOI of $451,495, the asking price is $6,099,000, representing a 6.67% cap rate and a pro-forma cap rate of 7.40%. The property is a fee simple ownership with a NNN lease structure and ample parking (4.3 spaces per 1,000 sq ft). The zoning is C-5. Lease options are available. This easily managed property, with its strong tenant base and value-add potential, is an ideal addition to any portfolio.

    Property Features for 1205 Sheridan Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    36,982 SF
    Lot Size
    131,116 SF

    Building Details

    Year Renovated
    2021
    Buildings
    1
    Stories
    1

    HighLights

    • $6,099,000 asking price for a stabilized, value‑add shopping center.
    • 88.52% occupancy with national tenants Staples, Aaron's, and US Cellular, averaging 24 years tenancy.
    • Recent tenant improvements by Aaron's and US Cellular, showcasing strong commitment.
    • Property features updated asphalt, lighting, signage, and a new TPO roof (Staples & Aaron's, 2024).
    • Value‑add opportunity: 4,226 SF vacant space offers potential NOI and cap rate increases.
    • Located on former Indian reservation land, potentially offering accelerated depreciation benefits.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Showman's Choice Tack Shop Southwest PB & E Auto Painting

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lawton
    County
    Comanche
    State
    Oklahoma
    Longitude
    -98.421752440159
    Latitude
    34.620396797622

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    FAQs

    What type of property is this?
    Lifestyle center - Multi-tenant retail center, strong NOI.
    Where is this lifestyle center located?
    The property is located at 1205 Sheridan Rd Lawton, OK.
    What is the asking price?
    The asking price for this property is $6,099,000.
    What are key features of this property?
    This property features: $6,099,000 asking price for a stabilized, value-add shopping center.; 88.52% occupancy with national tenants Staples, Aaron's, and US Cellular, averaging 24 years tenancy.; Recent tenant improvements by Aaron's and US Cellular, showcasing strong commitment.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1205 Sheridan Rd Lawton, OK 73505
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