Auction - REIT Sale | Former Mountain Express 216 W 1st St Local commercial 228 m² À vendre Heavener, OK 74937 87 553 € (383,87 €/m²)

Marcus & Millichap is pleased to present the opportunity to acquire a vacant, free-standing retail building located at 216 W 1st Street in Heavener, Le Flore County, Oklahoma 74937 (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 1925, the one-story, free-standing convenience store/gas station includes ±2,455 square feet of retail space and features 4-gas pumps under canopy. The Property is strategically positioned on a parcel totaling ±0.2583 acres of land with 14 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 ±$10-13/SF NNN). The 12,000-gallon UST is currently listed as Temporarily Out of Use, with a removal order issued by the Oklahoma Corporation Commission in a Notice of Violation dated July 3, 2024. 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. The gas pumps, four parking spaces, and pylon sign partially encroach onto public right of ways.
Heavener is located in Le Flore County in eastern Oklahoma and serves as a small but strategic commercial node within the region. Strategically situated along U.S. Highway 59, Heavener offers convenient access to regional transportation networks, including nearby rail infrastructure. The Property is prominently situated along W 1st Street (US-271/59) with ±7,600 vehicles per day at the corner of W Avenue A, a central corridor in Heavener 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 Market, Family Dollar, O’Reilly Auto Parts, Sonic, and Canadian Pacific Kansas City Railroad Yard Office, reinforcing the corridor’s established role as a high-traffic commercial destination. Heavener is located approximately 45 miles southwest of Fort Smith, which is the second-largest city in Arkansas and a major regional employment center. Within a 10-mile trade area, the population totals approximately ±11,302 residents, with an average household income of over $56,838. The population has experienced 5.99% growth from 2020-2024 with 4.61% growth expected to continue through 2029. Heavener’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.