Active
101 N Road
Mustang OK, 73160
$9,700,000
$108.34 per sqft
Active
89,530 sqft
Commercial
Built in 1976
Listing courtesy of George Huffman and with InterWest Realty Listing Contact: 405-752-2525
The current owner purchased Silver City Shopping Center just over five years ago in spite of its then deferred maintenance, long term down units, and in general, poor management. The results of the then cumulative issues brought on below-market rents and the ripple effects of bad management. Recognizing its potential, the purchase was made, and we set out to implement a comprehensive revitalization strategy that allowed us to turn the Center around beyond our expectations. Today, we're proud to disclose the transformation evidenced by our 100% occupancy, and a well-balanced rent roll filled with a combination of national brands mixed with local businesses, which brings a true sense of community to the Center. Our team navigated this transformation through the headwinds of covid, rising inflation, and increased interest rates, focusing on tenant retention as our weathervane, using a blend of market rates with fair terms to retain existing tenants, while at the same time in filling vacancies at higher market rates. An example of the owner's commitment, shortly after purchase was overlay the asphalt half of the parking lot and massive concrete repairs to fix the parking lot up front to "as new" condition, which brought immediate appreciation from our tenants and the community given that we boast approximately 400 parking spaces, eliminates the typical pressures of tight parking at similar Centers. All vacancies were then rehabbed and leased out to complete the process updating and modernizing flooring, HVAC, and modern decorative elements. As mentioned, the Center encompasses 89,530 square feet of retail shopping at the bustling northwest corner of SH 152 & Mustang Road. Tractor Supply, Lesley's Pool, and Marco's Pizza are a few of our national clients, complemented by a great mix of local businesses, creating a sustainable, long-term investment opportunity for the next owner. We think this is just the beginning of a great future for this Center.
1143935
MLSⓇ ID
December 16, 2024
Listed
December 16, 2024
Updated
Map
101 N Road
Mustang OK, 73160
Interior Features
Total Stories
1
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central, Gas
Exterior/Building Features
Lot Size
9.46 Acres
Lot Features
Corner Lot
Sewer
Public Sewer
Other Property Details
Taxes
$69,617
Tax Frequency
Annually
Association Fee Frequency
Yearly
Garage
No
Parking
Asphalt, Concrete, Driveway
Parking Total
604
View
No
County
Canadian
Water Source
Public
Pool
No
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