817-829 4Th St, Moore, OK 73160

Property Details for 817-829 4Th St

Lot size

4.56 lot acres

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 25,508 square foot shopping center in Moore, Oklahoma, presents a compelling investment opportunity. Located at 817-829 SE 4th Street, this multi-tenant property boasts a strong 8.03% cap rate and a substantial net operating income (NOI) of $240,351, with an asking price of $2,995,000 ($117.41/sq ft). The center benefits from a diverse tenant mix, including national brands like Dollar General and Subway, many of whom have enjoyed long-term tenancies (over 50% have 15+ years, with Dollar General and Subway exceeding 30 years). A significant portion (67%) of the property is currently under fresh five-year leases expiring in 2028, providing excellent long-term stability. Below-market rents offer significant upside potential for investors, particularly given that seven out of ten tenants have experienced rent increases during their current lease terms. The property underwent a façade remodel in 2017, and features a new 20-year TPO roof (inspected June 2023, no damage), and nine out of thirteen HVAC units were replaced in 2019. The property's prime location near Moore High School (2,500 students), and neighboring prominent retailers such as Walmart, McDonald's, and First Fidelity Bank, ensures high visibility and strong traffic. Cleveland County contributes $300 monthly for lot porter services. Parking lot maintenance is shared among the property, McDonald's, and Scooter's Coffee. The property is zoned C-4 and sits on a 4.56-acre lot. Dollar General's lease is nearing its option period and will require renegotiation. This well-maintained, high-performing asset offers a rare blend of stability and growth potential.

Location Insight

City

Moore

County

Cleveland

State

Oklahoma

Longitude

-97.4744

Latitude

35.3347