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Choctaw Shopping Center 1601-1623 E Jackson St

87,477 SF 62% Leased Retail Building Hugo, OK 74743 £2,913,453 (£33/SF) 8.25% Net Initial Yield

Investment Highlights

  • 87,477-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
  • 29% of the GLA is a New Eight-Year Lease with Ollie's Bargain Outlet
  • Anchored by Tractor Supply (47% of the GLA) | Approximately Eight Years Remaining on the Primary Term

Executive Summary

Marcus & Millichap is pleased to offer the opportunity to acquire a 87,477-square-foot, multi-tenant retail center located in Hugo, Oklahoma. The subject property is 100 percent leased, and the majority of the leases are on gross terms providing significant upside potential. The center is anchored by Tractor Supply, occupying 47 percent of the leasable area and having triple-net terms. Ollie's Bargain Outlet will be occupying the 25,217-square-foot suite on a new eight-year term. Other tenants are a complementary mix of service-oriented businesses and retailers, including Sun Loan Company, Hugo Tag Agency, Vape Shop, Sharpe's Department Store, and a ground lease to Twice The Ice Kiosk. Originally constructed in 1975, the property is situated on two acres totaling 7.93 acres with ample concrete parking.
Choctaw Plaza is located on East Jackson Street with multiple ingress and egress points. Traffic counts in front of the property exceed 8,726 vehicles per day. Shadow-anchored by Walmart Supercenter, the subject property is near other national and regional retailers including Dollar General, Taco Bell, Dollar Tree, McDonald's, Pruett's Food, KFC, US Cellular, Sonic Drive-In, Cricket Wireless, O'Reilly Auto Parts, Subway, and many more. The 10-mile population is approximately 10,059 residents having an average household income of $55,443.

Data Room Click Here to Access

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Retail
Building Size
87,477 SF
Building Class
C
Year Built
1975
Price
£2,913,453
Price Per SF
£33
Net Initial Yield
8.25%
NOI
£240,362
Percent Leased
62%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.25
Lot Size
7.93 AC
Zoning
C - Commercial
Parking
195 Spaces (2.23 Spaces per 1,000 SF Leased)
Frontage
534 ft on Jackson St

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1st Floor
  • 740 SF
  • Retail
  • -
  • Now

Built out as a hair salon includes FFE. 2nd generation construction.

  • 1st Floor
  • 680 SF
  • Retail
  • -
  • Now

Built out as a hair salon includes FFE. 2nd generation construction.

  • 1st Floor
  • 2,600 SF
  • Retail
  • -
  • Now

2nd generation construction.

  • 1st Floor
  • 9,217 SF
  • Retail
  • In-Line
  • Now

2nd generation construction.

  • 1st Floor
  • 16,000 SF
  • Retail
  • End Cap
  • Now
  • 5
  • 2,600 SF
  • Office
  • -
  • Now
  • 6
  • 740 SF
  • Office
  • -
  • Now
  • 8
  • 680 SF
  • Office
  • -
  • Now
Space Size Space Use Position Available
1st Floor 740 SF Retail - Now
1st Floor 680 SF Retail - Now
1st Floor 2,600 SF Retail - Now
1st Floor 9,217 SF Retail In-Line Now
1st Floor 16,000 SF Retail End Cap Now
5 2,600 SF Office - Now
6 740 SF Office - Now
8 680 SF Office - Now

1st Floor

Size
740 SF
Space Use
Retail
Position
-
Available
Now

1st Floor

Size
680 SF
Space Use
Retail
Position
-
Available
Now

1st Floor

Size
2,600 SF
Space Use
Retail
Position
-
Available
Now

1st Floor

Size
9,217 SF
Space Use
Retail
Position
In-Line
Available
Now

1st Floor

Size
16,000 SF
Space Use
Retail
Position
End Cap
Available
Now

5

Size
2,600 SF
Space Use
Office
Position
-
Available
Now

6

Size
740 SF
Space Use
Office
Position
-
Available
Now

8

Size
680 SF
Space Use
Office
Position
-
Available
Now

1st Floor

Size 740 SF
Space Use Retail
Position -
Available Now

Built out as a hair salon includes FFE. 2nd generation construction.

1st Floor

Size 680 SF
Space Use Retail
Position -
Available Now

Built out as a hair salon includes FFE. 2nd generation construction.

1st Floor

Size 2,600 SF
Space Use Retail
Position -
Available Now

2nd generation construction.

1st Floor

Size 9,217 SF
Space Use Retail
Position In-Line
Available Now

2nd generation construction.

Nearby Major Retailers

Anytime Fitness
First United Bank And Trust Company
Scooter's Coffeehouse

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
3199-26-006-017-1-003-00
Land Assessment
£2,582
Improvements Assessment
£134,053
Total Assessment
£136,635
  • Listing ID: 33398170

  • Date on Market: 03/10/2024

  • Last Updated:

  • Address: 1601-1623 E Jackson St, Hugo, OK 74743

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