Attractive Value-Add Investment: Current tenants include Subway, Beyond Nutrition, and Caddo County Guns & Ammo.
Prime Location with Strong Retail Synergy: Positioned adjacent to Petree Plaza, Anadarko’s primary shopping center, and neighboring McDonald’s. Additional prominent tenants include Dollar Tree, MidFirst Bank, T-Mobile, Variety Care Health Center, World Finance, Faith Hospice, and more.
Competitive Rental Rates: Average rent is $7.20 per square foot. Notably, Caddo County Guns & Ammo’s lease commenced in July 2023 at $10.59/SF, with Subway and Beyond Nutrition paying $7.41/sf and $5.65/sf, respectively. Potential exists for rental adjustments to market rates, enhancing returns.
Established Tenancy: Subway has been a tenant for over 34 years and holds one remaining 5-year renewal option with a 5.00% rent increase.
100% Occupancy: The center is fully leased, offering immediate cash flow with opportunities for rental increases upon lease renewals.
Strong Weighted Average Lease Term (WALT): The property boasts a WALT exceeding 1.45 years, providing opportunity for near term rental increases.
Minimal Landlord Obligations: Landlord responsibilities are confined to taxes, insurance, and capital expenditures, with tenants covering all regular maintenance costs.
New Roof: Brand new foam roof installed in 2023, including a 10-year leak guarantee.