Shops at Turkey Creek

Price: $9,148,500
Sq. Ft.: 91,037
Cap Rate: 7.0%
Built: 1975

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.

  • 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
  • Building was Significantly Renovated Recently | Seller Reports Property Improvements Completed in 2021 and 2022, Including All New HVAC Units, New Store Fronts, Tenant Finish Out, New Electrical and Plumbing, and Two New Docks
  • Situated on a Large 8.25-Acre Lot with Paved Parking
  • Priced at $100 per Square Foot | Well Below Replacement Cost
  • Adjacent Pad Sites Include CVS Pharmacy, Mazzio’s Italian Eatery, Little Caesar’s Pizza, Taco Mayo, and a Bricktown Brewery that is Currently Under Construction with an Estimated Completion Date of May 2022
  • Located on the Southwestern Quadrant of Southeast Washington Boulevard and Frank Philip Boulevard with Multiple Ingress and Egress Points from Both Streets | Cumulative Traffic Counts Exceed 34,042 Vehicles per Day
  • Close Proximity to Numerous National and Regional Retailers Including Hobby Lobby, Big Lots, Planet Fitness, Goodwill Store, Starbucks, Chick-fil-a, and More