SQUARE FEET31,012
MLS#1223486
STATUSActive
PROPERTY TYPECommercial - Business
Property Description
$500,000 Price Improvement!Prime value-add commercial investment and development opportunity on high-traffic North May Avenue. Spanning a full city block from NW 31st to NW 32nd on the northeast side of May, this 31,012 sq. ft. (MOL) neighborhood shopping center offers reliable in-place cash flow paired with outstanding upside. The property features ~11,748 sq. ft. of paved parking plus 1 to 1.2 acres of undeveloped land on the east side-ideal for multifamily, duplexes, or residential rental development.Current Rent Roll & Lease Highlights:Harry's Grill: $3,700/mo (Leased through May 2027)3132 / 2840 (Combined Unit): $3,500/mo (Leased through March 2027)3126 N. May: $3,000/mo (40-year anchor tenant; MTM, desires long-term extension with buyer)3130 N. May: $2,200/mo (MTM, desires new lease with buyer)3128 N. May: $1,200/mo (MTM, desires new lease with buyer)3124 B-C: $900/mo (2-year lease)Current Monthly Gross: $14,500/month ($174,000/year)Value-Add Potential:Several vacant units offer immediate lease-up potential at approximately $1,500/month each, complemented by the surplus land ready for ground-up expansion.Owner Financing Terms Available:Purchase Price: $2,700,000Down Payment: $1,500,000 (Loan Amount: $1,200,000)Terms: 6.0% interest | 20-year amortizationMonthly P&I: $8,597.17 (Buyer responsible for property taxes and insurance)Buyer to verify all information, dimensions, and zoning.
Property Features
Property Type: Commercial - Business
Heating: Natural Gas
Lot Size: 5.18 Acres
Stories: 1.0
Taxes: $21,033
Year Built: 1955
Feature Descriptions
Days on Site: 175
Exterior: Brick, Brick & Frame
Miscellaneous: Sidewalk
Parking: Additional Parking, Asphalt, Concrete
Sewer: Public Sewer
Water: Public
Listed By / Shown By
Listed By
Agency Name: RE/MAX Preferred
Agent Name: Paul Brooks
Agency Phone: 405-751-4848
Shown By
Agent Name: Melissa Hughes
Agent Phone: (918) 520-5637
Agency Title: Chinowth & Cohen
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3124 N May Avenue | MLS# 1223486
This commercial property located at 3124 N May Avenue, Oklahoma City, OK 73112 is currently listed for sale with an asking price of $2,700,000. Search Oklahoma City real estate on melissahughes.ccoklahoma.com today.