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    13002-13070 Commerce Dr Elgin, OK 73538

    For Sale
    $4,310,000

    Oklahoma Retail Investment Opportunity

    Property size:
    20,109 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional Class A shopping center, Elgin Square, presents a compelling investment opportunity in the thriving Elgin, Oklahoma market. Built in 2022, the 20,109 square foot property boasts a strong 6.08% capitalization rate and a current NOI of $262,105. Currently 78% occupied, the center features ten units, including a diverse mix of established tenants such as Rising Eagle Brewery, Century 21 Realty, Luna Rae, Fee Mue Thai Cuisine, Hilliary, Eagle's Lounge, Allure Wellness, SW Driving School, and Burritos Mico. Many tenants offer outdoor seating, enhancing the property's appeal. The strategic location offers convenient access to both Highway 277 and Interstate 44, ensuring high visibility and accessibility for both tenants and customers. Ample parking is available for all suites. The property is situated near other prominent businesses, including Arvest Bank, McDonald's, and Braum's, further solidifying its position within a vibrant commercial corridor. Only one unit remains available for lease, presenting an immediate opportunity to increase occupancy and revenue. Financial details are available upon request to qualified buyers, subject to a Non-Disclosure Agreement. Additionally, a one-acre pad-ready site is available for separate purchase. The property is zoned for commercial use. This is a rare opportunity to acquire a high-quality, newly constructed shopping center in a rapidly growing area.

    Property Features for 13002-13070 Commerce Dr

    General Information

    Property type
    Lifestyle centers
    Square Feet
    20,109 SF
    Class
    A

    Building Details

    Year Built
    2022
    Buildings
    1
    Stories
    1
    Units
    10

    HighLights

    • 2022 Construction.
    • Excellent I‑44 & Hwy 277 access.
    • 78% Occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Map

    City
    Elgin
    County
    Comanche
    State
    Oklahoma
    Longitude
    -98.2975599
    Latitude
    34.7842005

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    FAQs

    What type of property is this?
    Lifestyle center - Oklahoma Retail Investment Opportunity
    Where is this lifestyle center located?
    The property is located at 13002-13070 Commerce Dr Elgin, OK.
    What is the asking price?
    The asking price for this property is $4,310,000.
    What are key features of this property?
    This property features: 2022 Construction.; Excellent I-44 & Hwy 277 access.; 78% Occupancy.
    Request Owner's contact information
    13002-13070 Commerce Dr Elgin, OK 73538
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    Elgin, OK 73538
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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
    13002-13070 Commerce Dr Elgin, OK 73538
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