Auction - REIT Sale | Former Mountain Express 2017 N Broadway St Local commercial 494 m² À vendre Poteau, OK 74953 87 553 € (177,41 €/m²)

Marcus & Millichap is pleased to present the opportunity to acquire a vacant, free-standing retail building located at 2017 North Broadway Street in Poteau, Le Flore County, Oklahoma 74953 (the “Property”). Previously occupied by Mountain Express Oil Co. and operated under the name of Tote-A-Poke, the Property is being offered significantly below replacement cost, presenting an attractive opportunity for owner-users or investors to acquire a well-located commercial asset with meaningful value enhancement potential. FIRST BID MEETS RESERVE!
Built in 1993, the one-story, free-standing convenience store/gas station includes ±5,312 square feet of retail space and features 6-gas pumps under canopy. The Property is strategically positioned on a parcel totaling ±0.68 acres of land with 19 surface parking spaces and can be accessed via several points of ingress/egress. Zoned C-3, Local and Through Highway Business, the Property allows for a variety of commercial uses, providing flexibility for redevelopment or alternative tenant types. This former convenience store provides an outstanding opportunity for investors to capitalize on strong market fundamentals, with potential for value-add through long-term lease-up at market rates (CoStar estimates industrial rents at ±$11-13/SF NNN). The three UST totaling 22,000-gallons are currently listed as Temporarily Out of Use, with a removal order issued by the Oklahoma Corporation Commission in a Notice of Violation dated December 31, 2024, and October 31, 2024, respectively. VEREIT has filed a variance request to rescind the UST removal order and maintain the system’s “Temporary Out of Use” status until the property is sold, and new tenant is in place.
Poteau is the county seat of Le Flore County in eastern Oklahoma and serves as a central hub for government, education, healthcare, and retail within the region. Poteau is a strategic submarket in the Fort Smith MSA and offers convenient access to regional transportation networks. The Property is prominently situated along N Broadway Street (US-271/59) with ±15,300 vehicles per day with dual frontage on Circle Drive offering strong visibility and accessibility for retail or service-oriented users. The Property is surrounded by a strong mix of national retailers, including Dollar General, Family Dollar, Taco Bell, McDonald’s, Tractor Supply, O’Reilly Auto Parts, Pizza Hut, Bealls, Anytime Fitness, Auto Zone, reinforcing the corridor’s established role as a high-traffic commercial destination. Poteau is located approximately 30 miles south of Fort Smith, which is the second-largest city in Arkansas and a major regional employment center. Within a 5-mile trade area, the population totals approximately ±13,520 residents, with an average household income of over $59,994. The population has experienced 5.09% growth from 2020-2024 with 4.48% growth expected to continue through 2029. Poteau’s strategic location along US-59, its proximity to industrial and institutional demand drivers in nearby Fort Smith, and its accessible site layout make this Property a strong candidate for repositioning or re-tenanting to serve regional retail or convenience store needs.