McAlester Venture Strip Center
408 S. George Nigh Expressway, McAlester, OK
Retail Investment for Sale
Improvement Sales Price: $3,150,000
Price / SF: $64.39
Improvement Cap Rate: 8%
Pad Site Sales Price: $300,000
Total Sales Price: $3,450,000
Cap Rate: 7.39%
NOI: $254,976
Improvement Lot Size: 7.62
Acres Pad Site Lot Size: 1.7 Acres
Year Built: 1986
Building Size: 48,922
Market: Pittsburg County
Property Highlights
Walmart Supercenter anchored shopping center
Anchored by Tractor Supply
Located on George Nigh Expressway, McAlester's retail corridor
Multiple national retailers surrounding the property
Strong tenant mix with long term on leases
Property Overview
Walmart shadow anchored center with 100% occupancy. The property boasts a great tenant mix of national tenants including: Dollar General, Aaron Rents, Tractor Supply and CATO. McAlester Venture Shopping Center is anchored by Tractor Supply occupying 53% of the center with lease until 2025.
Additional 1.7 Acre Pad Site being offered at $300,000. Improvement CAP Rate equals 8% and with the Pad Site include equals 7.39%.
The shopping center is surrounded by national retailers that consist of: Walmart Supercenter, Lowe's Home Improvement, Chili's Grill & Bar, Pizza Hut, Subway, Wendy's, Carl's Jr, Taco Bell, Denny's, Arby's and many more.
Location Overview
Walmart shadow anchored center located on George Nigh Expressway. The property has an address of 408-412 George Nigh Expressway in McAlester, Oklahoma. McAlester is a city in and county seat of Pittsburg County, Oklahoma. The population was 18,363 at the 2010 census, a 3.4 percent increase from 17,783 at the 2000 census, making it the largest city in the former Choctaw Nation of Oklahoma.
McAlester is home to many of the employees of the McAlester Army Ammunition Plant. This facility makes essentially all of the bombs used by the United States military. In 1998 McAlester became the home of the Defense Ammunition Center (DAC) which moved from Savanna, Illinois, and relocated as a tenant on McAlester Army Ammunition Plant.
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