Jack in the Box
Retail | 6.43% CAP | 2,838 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Jack in the Box located at 615 12th Ave NE, Norman, OK 73071 . The site consists of roughly 2,838 rentable square feet of building space on an estimated 0.96-acre parcel of land. This Jack in the Box is subject to a 20-year Ground lease, which commenced 5/14/2012. The current annual rent is $138,246 and has scheduled increases of cumulative cpi capped at 8% every 5 years.
Investment highlights
The University of Oklahoma Proximity | The subject property is located less than 2 miles from the University of Oklahoma, the state’s flagship public research institution. With an enrollment exceeding 34,000 students, the university is a major driver of local economic activity, daily traffic, and demand for quick-service dining. Its proximity not only ensures a steady stream of potential customers, but also strengthens the long-term viability of surrounding retail by anchoring the area with a dense population of students, faculty, and staff.
Scheduled CPI Rental Increases | The lease includes cumulative Consumer Price Index (CPI) rental increases, capped at 8% every five years, providing a hedge against inflation and long-term income growth.
Strategic Retail Positioning | The property is located adjacent to a Walmart Supercenter and surrounded by major national retailers such as Murphy USA, GameStop, Zips Car Wash, and Pizza Hut, driving consistent customer traffic and brand visibility.
Dense Residential and Commercial Trade Area | Located in a well-established retail corridor in Norman, the property benefits from strong daytime population and residential density, with more than 76,000 residents within a 3-mile radius and continued projected growth through 2029.
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