Del Crest Shops
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Property Type:
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Shopping Center
for Sale
Neighborhood Center
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| Building Size (RSF): |
88,023 SF
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| Sale Price: |
$3,900,000 |
| Unit Price: |
$44.31 Per SF |
| Property Status: |
Proposed |
| Gross Building Area (GBA): |
88,023 SF |
| Total Land Size: |
6.03 Acres |
| Sale Terms: |
Other |
| Cap Rate: |
10.41% |
| Last Updated: |
3/11/2010 |
Del Crest Shops is an incredible redevelopment opportunity for a developer looking to capitalize on an area with substantial untapped retail potential. The 88,023-square-foot center is located in close proximity to Tinker Air Force Base, Oklahoma's largest employer with 28,000 (mol) employees. Del Crest is also located just West of Oklahoma’s highest producing Wal-Mart and demand for new retail in this area is very high with a number of national tenants seeking new space in this area. Del City will be completely transformed over the next few years to include a multitude of new retailers and that redevelopment will start with Del Crest Shops in that it is the last retail center to be redeveloped on the I-40 corridor.
Video Tour: http://www.youtube.com/user/SVNGregoryInterests#p/a/u/0/y_G_tXhhPs0
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| Nearest MSA: |
Oklahoma City |
| County: |
Oklahoma |
| Property Use Type: |
Investment, Vacant/Owner-User |
| Property Located Between: |
Del City is located on Interstate 40, just minutes east of downtown Oklahoma City where citizens voted on December 8, 2009, to continue a one-cent, sales tax to raise $777 million for public/private economic development initiatives. Del City has emerged in recent years as one of the most dynamic retail trade areas in the Oklahoma City metropolitan area. Just east of the Del Crest Shops is one of the largest Wal-Mart Supercenter stores in the state. This store is not only the top producing location in the state for Wal-Mart, but one of the top stores in the entire nation. As a result, retailers are flocking to this area to feed off Wal-Mart’s synergy. The area boasts strong traffic counts and accessibility with its prime location just off Interstate 40. Moreover, Midwest City, which is located just east of Del City, has proven the need for new retail in eastern Oklahoma County with the incredible success of Town Center, the metro area’s only lifestyle center.
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| Site Description: |
Excellent redevelopment opportunity in Del City OK, 88,023-square-foot shopping center, Top Wal-Mart in state located just east of site, Possible inclusion of this site in a TIF District, Interstate 40 with high traffic counts |
| Area Description: |
Del City is located on Interstate 40, just minutes east of downtown Oklahoma City where citizens voted on December 8, 2009, to continue a one-cent, sales tax to raise $777 million for public/private economic development initiatives. Del City has emerged in recent years as one of the most dynamic retail trade areas in the Oklahoma City metropolitan area. Just east of the Del Crest Shops is one of the largest Wal-Mart Supercenter stores in the state. This store is not only the top producing location in the state for Wal-Mart, but one of the top stores in the entire nation. As a result, retailers are flocking to this area to feed off Wal-Mart’s synergy. The area boasts strong traffic counts and accessibility with its prime location just off Interstate 40. Moreover, Midwest City, which is located just east of Del City, has proven the need for new retail in eastern Oklahoma County with the incredible success of Town Center, the metro area’s only lifestyle center.
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| Year Built: |
1968 |
| Lot Frontage (Feet): |
S.E. 15th |
| Net Operating Income: |
$405,800 |
| Gross Rent Multiplier: |
6.41 |
| Actual or Proforma Year: |
PE |
| Down Payment: |
$975,000 |
| Interest Rate (APR): |
7 |
2000 CensusDemographic Statistics |
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
8,996 |
67,008 |
130,425 |
| Median Age: |
36 |
32 |
32 |
| Households: |
3,767 |
27,183 |
51,640 |
| Avg. Household Income: |
$37,770 |
$39,057 |
$37,665 |
| More Demographic Statistics |
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| Note: The information presented herein is provided as is, without warranty of any kind. Neither Sperry Van Ness - Gregory Interests LLC. nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.
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