3124 N May Avenue, Oklahoma City, OK 73112
sale
$2,700,000
|
Other
Courtesy Of Askin Group LLC
$500,000 Price Improvement! Prime value-add commercial investment and development opportunity on high-traffic North May Avenue. Spanning a full city block from NW 31st to NW 32nd on the northeast side of May, this 31,012 sq. ft. (MOL) neighborhood shopping center offers reliable in-place cash flow paired with outstanding upside. The property features ~11,748 sq. ft. of paved parking plus 1 to 1.2 acres of undeveloped land on the east side-ideal for multifamily, duplexes, or residential rental development. Current Rent Roll & Lease Highlights: Harry's Grill: $3,700/mo (Leased through May 2027) 3132 / 2840 (Combined Unit): $3,500/mo (Leased through March 2027) 3126 N. May: $3,000/mo (40-year anchor tenant; MTM, desires long-term extension with buyer) 3130 N. May: $2,200/mo (MTM, desires new lease with buyer) 3128 N. May: $1,200/mo (MTM, desires new lease with buyer) 3124 B-C: $900/mo (2-year lease) Current Monthly Gross: $14,500/month ($174,000/year) Value-Add Potential: Several vacant units offer immediate lease-up potential at approximately $1,500/month each, complemented by the surplus land ready for ground-up expansion. Owner Financing Terms Available: Purchase Price: $2,700,000 Down Payment: $1,500,000 (Loan Amount: $1,200,000) Terms: 6.0% interest | 20-year amortization Monthly P&I: $8,597.17 (Buyer responsible for property taxes and insurance) Buyer to verify all information, dimensions, and zoning.
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Property Features
- Age: Over 50 Years Old
- Cooling System: Electric
- Exterior Type: Brick
- Exterior Type: Brick & Frame
- Floors: 1
- Heating System: Natural Gas
- MLSID: 1223486
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