6900 North May Ave, Oklahoma City, OK 73116
- Strip malls
- 11,880 SF
- 5.99 lot acres
Current Use by Public Records
- TAO Foot Massage / Alternative Medicine Practice / Spa & Massage Center
- LibertyX Bitcoin ATM / Atm
- The Honey Baked Ham Company / Take-out & Catering / Catering Service
- Culin Blevins Personal Training at Four Star Fitness / Gym & Fitness Center
- Affordable Computer Repair LLC / Computer & Electronic Repair
Property Details for 6900 North May Ave
- Year built
- 1981
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 5.99 lot acres
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 11-993-2455
- APU
- 119932455
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 27, 2024 | — | Wh Okc 6900 N May LLC | 6900 Place Oklahoma LLC | Special Warranty Deed | $4.8M · Arvest Bank |
| — | — | 6900 Place Oklahoma LLC | — | Deed Of Trust · related | $3M · Bank Snb NA |
| — | — | 6900 Place Oklahoma LLC | — | Deed Of Trust · related | $3.8M · Lehman Brothers Bank Fsb |
Description
This 49,436 square foot shopping center in Oklahoma City, OK, presents a compelling value-add opportunity. Currently 78% occupied, the property boasts below-market rents averaging $14.54 per square foot, significantly lower than the Oklahoma City average of $22.50 per square foot (Source: Costar Analytics). This translates to an estimated $124,265 increase in Net Operating Income (NOI) upon full lease-up, adding to the current NOI of $454,531. The asking price is $5,194,600, or $105.08 per square foot, substantially below the estimated replacement cost of approximately $371 per square foot (Source: ProEst). Situated on a sizable 3.74-acre lot, the center offers five points of ingress/egress and ample surface parking. Built in 1981, this multi-tenant property is located at 6900 N May Ave, Oklahoma City, OK 73116, within a dynamically growing city—the 20th largest in America and the 6th fastest-growing among the top 20. The property's strategic location and significant upside potential make it an attractive investment prospect.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,135,000
Market price range: $631k - $2.14M -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $1,345,000 Current use
- MEDICAL BUILDING
- $1,855,000 Change: +38% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,770,000 Change: +32% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,765,000 Change: +31% Conversion: Difficult
- OFFICE BUILDING
- $1,525,000 Change: +13% Conversion: Moderate
- RETAIL STORES
- $1,465,000 Change: +9% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Oklahoma City
- County
- Oklahoma
- State
- Oklahoma
- Longitude
- -97.5649
- Latitude
- 35.5413
- CBSA code
- 36420
- CBSA name
- OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA
