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

The information provided is believed to be accurate but is not guaranteed and is subject to verification by all parties. It is intended for consumers' personal, non-commercial use and should not be used for any other purpose than to identify prospective properties for purchase. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual, and/or purpose without the express written permission of MLSOK, Inc. The IDX display contains information sourced from MLSOK, Inc. as of 12/16/2024. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered. Information last updated on 12/16/2024.

Copyright © 2024 MLSOK, Inc.

Powered byLuxury Presence