13002-13070 Commerce Drive Elgin OK, Elgin, OK 73538
Fully occupied shopping center investment opportunity in Elgin, Oklahoma.
- Added:
- Apr 23, 2024
- Days on Market:
- 783
- Last Refresh:
- May 12 at 9:56 pm
Property Features for 13002-13070 Commerce Drive Elgin OK
General Information
- Standard status
- Active
- Size
- 20,109 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2022
Listing agent Melissa Busse License #OK
Listing office Insight Commercial Real Estate
Listing date Apr 23, 2024
Source Crexi
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
HighLights
- Fully occupied shopping center, providing immediate income stream.
- Prime location in Elgin, OK, at Elgin Square.
- New construction (built in 2022).
- Strong tenant mix including Rising Eagle Brewery, Century 21 Realty, and Fee Mue Thai Cuisine.
- Ample parking available for all tenants and customers.
- Convenient access to Hwy 277 and I‑44.
Overview
Local 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 | $427.1k | $21.24 |
| − Vacancy | −$44.0k | −$2.19 |
| EGI | $383.1k | $19.05 |
| − OpEx | −$114.9k | −$5.72 |
| NOI | $268.2k | $13.34 |
Alternative Uses
Current Use by Public Records
Map
- City
- Elgin
- County
- Comanche
- State
- Oklahoma
- Longitude
- -98.4337
- Latitude
- 34.7678
