523 Main St Stillwater, OK 74075

Property Details for 523 Main St

Year built

1999

Lot size

8.87 lot acres

Property size

98,964 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

600055408

APU

600055408

Description

Bradford Plaza Shopping Center, a 93,755-square-foot, multi-tenant shopping center in Stillwater, Oklahoma, presents a compelling investment opportunity. This 100% occupied property boasts a strong tenant mix, including TJ Maxx as an anchor, and features 16 tenants, many of which are national brands. The center benefits from a prime location near Oklahoma State University, with over 26,800 students and 5,500 personnel, and enjoys high traffic counts exceeding 42,733 vehicles daily at the signalized intersection of North Main and McElroy Roads. The property is shadow-anchored by Homeland Grocery and situated on 8.87 acres with ample parking and a double-sided monument sign. Built in 1999, the center underwent recent improvements including a new roof (2024) and landscaping upgrades. The asking price is $13,967,000, representing $148.97 per square foot, with a 7.58% cap rate and a Net Operating Income (NOI) of $1,058,530. 79% of the gross leasable area is under triple-net leases. The property's proximity to other national retailers, including a Homeland gas station, IHOP, and 7-Eleven, further enhances its appeal. This stabilized investment offers a rare opportunity to acquire a high-performing retail center in a thriving market. The property's strong tenant base, including publicly traded companies, and recent improvements contribute to its exceptional value and potential for long-term growth.