Grocery Anchored Center- Strong Sales
62,474 SF | 100% Leased | Retail Building | Woodward, OK 73801 | $3,835,000 ($61/SF) | 7.76% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,835,000
- Property Type
-
Retail
- Square Feet
- 62,474 SF
- Price / Square Foot
- $61
Listing Contacts
Eric Carlton
Verified Profile
Jereme Snyder
Verified Profile
Jeremy Foraker
Verified Profile
- Property Info
Property Overview
The Snyder Carlton National Net Lease Team is pleased to present to qualified investors an opportunity to purchase a 97% occupied, newly renovated, grocery anchored shopping center (Westgate Shopping Center) located in Woodward, OK. The Westgate Shopping Center is a 6-tenant shopping center totaling 62,474 SF which includes United Supermarkets, a 50+ year tenant and Harbor Freight Tools, a strong national retailer which recently signed a new 10-year lease at the center. Positioned on US Route 412, this site sees approximately 18,500+ VPD. Woodward will benefit from a $250 million 4-lane highway project that will connect Woodward to interstate 40; allowing direct access to Oklahoma City and providing additional infrastructure to support businesses in Woodward. This is an excellent opportunity to acquire a newly renovated grocery anchored shopping center with brand-new leases (Harbor Freight Tools), which sits on over 5 acres of land and offered well below replacement cost.
Property Details
- Class
- B
- Year Built
- 1972
- Stories
- 1
- Property Subtype
- Freestanding, Grocery/Convenience Store
- Lot Size (sq. ft)
- 221,720 SF
Highlights
- 100% Fully Occupied Multi-Tenant Grocery Anchored Shopping Center - United Supermarket
- Brand New 10 Year Corp. Lease by Harbor Freight - 1300+ Stores/48 States - 40M Customers
- Well-Below Market Gross Leases with Diverse Tenant Mix - Long Term Upside Potential/Growth
- Strong Midwest Grocery Chain/Brand (The United Family) - 5 Banners with 95 Stores/51 Cities
- Well Located along Hwy 412 - Main Retail Corridor across Large Trade Area - Main Grocer for MSA
- Path of New Highway from Oklahoma City - Large 5.09 Acre Site with Outparcel Opportunity
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