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Shopping Neighborhood

Shops at Turkey Creek

501 SE Washington Blvd, Bartlesville, OK 74006

Listing Price: $9,148,500

Cap Rate
7.00%
Gross SF
91,037
Rentable SF
91,037
Price/Gross SF
$100.49
Lot Size
8.25 acres
Year Built
1975

Investment Overview

Shops at Turkey Creek is a 91,037-square-foot, multi-tenant neighborhood shopping center located in Bartlesville, Oklahoma. The center is 100 percent occupied, and 67 percent of the gross leasable area has triple-net leases. All tenants have options for renewal. Shops at Turkey Creek enjoys a strong tenant base of national tenants, including Dollar Tree, Burke's Outlet, Tuesday Morning, Ollie's Bargain Outlet, and Shoe Dept. Originally constructed in 1975, the seller reports extensive recent improvements completed during 2021 and 2022, including all new HVAC units, store fronts, two new docks, and new electrical and plumbing. The subject property is situated on approximately 8.25 acres. Shops at Turkey Creek is strategically located at the signalized, hard corner of Southeast Frank Phillips Boulevard and Southeast Washington Boulevard. The property is easily accessible from multiple ingress and egress points from both streets, with cumulative traffic counts of approximately 34,042 vehicles per day. Shops at Turkey Creek is adjacent to several pad sites, including CVS Pharmacy, Mazzio's Italian Eatery, Little Caesar's Pizza, Taco Mayo, and a new Bricktown Brewery (currently under construction with an anticipated completion date of May 2022). Numerous national and regional retailers neighbor the property, including Hobby Lobby, Big Lots, Chick-fil-A, Planet Fitness, Starbucks, Goodwill, Schlotzsky's, Braum's, McDonald's, Walgreens, QT, American Freight, and Dollar General.

Investment Highlights

  • 91,037-Square-Foot, Multi-Tenant Neighborhood Shopping Center
  • 100% Occupied | 67% of the Gross Leasable Area has Triple-Net Leases
  • Strong Tenant Base of 100% National Tenants | Three of the Five Tenants are Publicly Traded Companies
  • Dollar Tree, Burke's Outlet, and Tuesday Morning all have Approximately Eight Years Remaining on Their Primary Terms | All Tenants have Multiple Options for Renewal
  • Priced at $100 per Square Foot | Well Below Replacement Cost

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    (918) 294-6300

    License(s) OK: 181981

    Oklahoma

Shopping Neighborhood

Shops at Turkey Creek

Listing Price: $9,148,500

Cap Rate
7.00%
Gross SF
91,037
Rentable SF
91,037
Price/Gross SF
$100.49
Lot Size
8.25 acres
Year Built
1975

Investment Highlights

  • 91,037-Square-Foot, Multi-Tenant Neighborhood Shopping Center
  • 100% Occupied | 67% of the Gross Leasable Area has Triple-Net Leases
  • Strong Tenant Base of 100% National Tenants | Three of the Five Tenants are Publicly Traded Companies
  • Dollar Tree, Burke's Outlet, and Tuesday Morning all have Approximately Eight Years Remaining on Their Primary Terms | All Tenants have Multiple Options for Renewal
  • Priced at $100 per Square Foot | Well Below Replacement Cost

Investment Overview

Shops at Turkey Creek is a 91,037-square-foot, multi-tenant neighborhood shopping center located in Bartlesville, Oklahoma. The center is 100 percent occupied, and 67 percent of the gross leasable area has triple-net leases. All tenants have options for renewal. Shops at Turkey Creek enjoys a strong tenant base of national tenants, including Dollar Tree, Burke's Outlet, Tuesday Morning, Ollie's Bargain Outlet, and Shoe Dept. Originally constructed in 1975, the seller reports extensive recent improvements completed during 2021 and 2022, including all new HVAC units, store fronts, two new docks, and new electrical and plumbing. The subject property is situated on approximately 8.25 acres. Shops at Turkey Creek is strategically located at the signalized, hard corner of Southeast Frank Phillips Boulevard and Southeast Washington Boulevard. The property is easily accessible from multiple ingress and egress points from both streets, with cumulative traffic counts of approximately 34,042 vehicles per day. Shops at Turkey Creek is adjacent to several pad sites, including CVS Pharmacy, Mazzio's Italian Eatery, Little Caesar's Pizza, Taco Mayo, and a new Bricktown Brewery (currently under construction with an anticipated completion date of May 2022). Numerous national and regional retailers neighbor the property, including Hobby Lobby, Big Lots, Chick-fil-A, Planet Fitness, Starbucks, Goodwill, Schlotzsky's, Braum's, McDonald's, Walgreens, QT, American Freight, and Dollar General.

Exclusively Listed By

Broker of Record

  • Mark R. McCoy

    Regional Manager

    (918) 294-6300

    License(s): OK: 181981

    Oklahoma

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