Elgin Square Shopping
For Sale
Contact for pricing
13002-13070 Commerce Drive Elgin OK, Elgin, OK 73538
Fully occupied shopping center investment opportunity in Elgin, Oklahoma.
Property Size20,109 SF
Price / SF$209.36
Days on Market919
Property Features for 13002-13070 Commerce Drive Elgin OK
General Information
Standard status
Active
Size
20,109 SF
Class
A
Property subtype
Retail
Zoning
Commercial
Occupancy
78%
Net Operating Income
$262,105
Building Details
Year Built
2022
Buildings
1
Stories
1
Units
10
Listing Agency:
Insight Commercial Real Estate
Listed By:
Melissa Busse · License #OK
(580) 353-6100
Source:
Crexi
Added: Apr 23, 2024
Changed: Oct 25
Last Checked: Oct 26 at 2:32PM
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 Insight Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This investment property for sale is located in Elgin, Oklahoma, and features Elgin's newest shopping center, Elgin Square. The center is fully occupied and offers ample parking for all suites. It is situated minutes away from Highway 277 and I-44. Tenants include Rising Eagle Brewery, Eagle's Lounge, Century 21 Realty, Luna Rae, Fee Mue Thai Cuisine, Hilliary, Allure Tanning, SW Driving School, West Wing Boutique, and Burritos Mico. Rising Eagle Brewery and Burritos Mico both have outdoor seating. Nearby businesses include Arvest Bank, McDonalds, and Braum's. The property size is 20109 square feet.
Key Highlights
- Fully occupied shopping center, providing immediate income stream.
- Prime location in Elgin, OK, at Elgin Square.
- New construction (built in 2022).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$268,186
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,363,720
$5.4M
Cap Rate 7%
$3,831,229
$3.8M
Cap Rate 9%
$2,979,844
$3.0M
Market Conditions
NOI Build-Up for 20,109 SF
Gross rent
$427.1K $21.24/SF
− Vacancy
−$44.0K −$2.19/SF
EGI
$383.1K $19.05/SF
− OpEx
−$114.9K −$5.72/SF
NOI
$268.2K $13.34/SF
Area
Comanche County, OK
Vacancy
10.30%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,363,720
Cap Rate 7%
$3,831,229
Cap Rate 9%
$2,979,844
Alternative Uses
Best Use
Retail
$3.83M
$3.35M – $4.47M
NOI $268,186 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.95M
$4.33M – $5.77M
NOI $346,151 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 73538, OK
6,771
Population
2,496
Households
2.7
Avg Household Size
35
Median Age
33%
College-Educated
92%
High-School Grad
81.0 sq mi
ZIP Area
84
Density / Sq Mi
$83,873
Median Household Income
$50,448
Median Earnings
$1,143
Median Rent
$268,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied shopping center investment opportunity in Elgin, Oklahoma.
Where is this shopping center located?
The property is located at 13002-13070 Commerce Drive Elgin OK Elgin, OK.
What is the asking price?
The asking price for this property is $4,210,000.
What are key features of this property?
This property features: Fully occupied shopping center, providing immediate income stream.; Prime location in Elgin, OK, at Elgin Square.; New construction (built in 2022).
