3124 N May AVE Oklahoma City, OK 73112
UPDATED:
Key Details
Property Type Commercial
Sub Type Shopping Center
Listing Status Active
Purchase Type For Sale
Square Footage 31,012 sqft
Price per Sqft $87
MLS Listing ID OKC1223486
Construction Status Brick,Brick & Frame
Year Built 1955
Annual Tax Amount $21,033
Lot Size 5.180 Acres
Acres 5.18
Property Sub-Type Shopping Center
Property Description
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: $2,700,000
Down Payment: $1,500,000 (Loan Amount: $1,200,000)
Terms: 6.0% interest | 20-year amortization
Monthly P&I: $8,597.17 (Buyer responsible for property taxes and insurance)
Buyer to verify all information, dimensions, and zoning.
Location
State OK
County Oklahoma
Zoning Commercial
Interior
Heating Natural Gas
Cooling Electric
Fireplace N
Exterior
Parking Features Additional Parking, Asphalt, Concrete
Garage Description Additional Parking, Asphalt, Concrete
Building
Story 1
Sewer Public Sewer
Water Public
Structure Type Brick,Brick & Frame
Construction Status Brick,Brick & Frame
Others
Miscellaneous Sidewalk
Acceptable Financing As is Condition, Cash, Seller will Finance
Listing Terms As is Condition, Cash, Seller will Finance
NEARBY SCHOOL & BUSINESS
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