4303-4349 15Th St Del City, OK 73115
- Lifestyle centers
- 59,000 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 4303-4349 15Th St
- Year built
- 1956
- Property size
- 59,000 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional value-add opportunity presents a 59,000 square foot shopping center in Del City, Oklahoma, currently boasting a 74.11% occupancy rate and a 7.76% cap rate. Priced at $2,125,000 ($36.02 per square foot), the property offers significant upside potential. A pro-forma analysis projects a 15.5% cap rate, highlighting the potential for increased profitability through lease-up of the remaining vacancy. Built in 1956 and renovated in 2017, the center benefits from a strong tenant mix, including national anchors Dollar Tree and AutoZone, who recently invested in significant build-outs (2023). Five existing tenants are on month-to-month leases, providing flexibility for lease renegotiations or new tenant acquisitions. Further enhancing the property's value, approximately 76.6% of the roof was replaced with TPO roofing material in 2024. The weighted average lease term (WALT) is 2.1 years. The property's strategic location near Tinker Air Force Base and Rose State College ensures a consistent customer base. This investment presents a compelling opportunity for significant returns. The Net Operating Income (NOI) is $164,800. The property is located at 4303-4349 SE 15th St, Del City, OK 73115.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Del City
- County
- Oklahoma
- State
- Oklahoma
- Longitude
- -97.4409
- Latitude
- 35.4507
