3124 N May Avenue,Oklahoma City, OK 73112
Oklahoma City, OK 73112
Description
$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: $2,700,000Down Payment: $1,500,000 (Loan Amount: $1,200,000)Terms: 6.0% interest | 20-year amortizationMonthly P&I: $8,597.17 (Buyer responsible for property taxes and insurance) Buyer to verify all information, dimensions, and zoning.
Details
| MLS # | 1223486 |
|---|---|
| Listing Type | For Sale |
| Style | Shopping Center |
| Sub-Type | Resale |
| Status | Active |
| Year | 1955 |
| Days On Site | 198 |
| Listing Provided By | RE/MAX Preferred | Paul Brooks |
Features
| SQ Feet | 31,012 |
|---|---|
| Story(s) | 1 |
| Acreage | 5.18 |
Interior
| Heating | Natural Gas |
|---|
Parking
| Parking Features | Additional Parking, Asphalt, Concrete |
|---|
Taxes
| Okc Tax Amount | 21033.4700 |
|---|---|
| Tax Block | 1-3 & N 55ft 4 |
| Tax Lot | 000 |
Area Information
| State | OK |
|---|---|
| County | Oklahoma |
| City | Oklahoma City |
| Zip Code | 73112 |
| School District | Oklahoma |
| Listing VS Median (in 73112) | |
Price: $2,700,000 low | high Med: $217,500 sqft: 31,012 low | high Med: 1,588 $ / sqft: $87 low | high Med: $147 On site: 198 low | high Med: 81 | |
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Learn More About This Property
| State | OK |
|---|---|
| County | Oklahoma |
| City | Oklahoma City |
| Zip Code | 73112 |
| School District | Oklahoma |
| Listing VS Median (in 73112) | |
Price: $2,700,000 low | high Med: $217,500 sqft: 31,012 low | high Med: 1,588 $ / sqft: $87 low | high Med: $147 On site: 198 low | high Med: 81 | |
