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22887841
22887842

1002 N Porter Avenue, Norman, OK 73069

TS
OK 149994, TX 9002994
Marcus & Millichap - Oklahoma City
Listed by Marcus & Millichap - Oklahoma City
$2,074,074
420 days on market
Updated 63 days ago

HTEAO w/ DUAL DR-THRU | 15YR NNN | GROWING & POPULAR BRAND

Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant (+1)
Square Footage 2,566
Cap Rate 6.75%
NOI $140,000
Tenancy Single
Brand/Tenant HTeaO
Lease Type Absolute NNN
Lease Expiration 03/27/2040
Remaining Term 13.8
Rent Bumps Yes
Class A
Year Built 2022
Acreage 0.520
Investment Type Net Lease
Tenant Credit Franchisee

Retail | 6.75% CAP | 2,566 SF

Marketing description

PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:

https://themansourgroup.com/properties/310411/hteao

Investment highlights

  • 15 Year Absolute Net Lease (Zero Landlord Obligations) Featuring 1.5% Annual Increases throughout the Initial Term and CPI Adjustments in the Options. Brand New Construction w/ Dual Drive-Thru.

  • Positioned Along Area’s Major Retail and Traffic Corridor. Hard Corner Location - Features Easy Access and Excellent Visibility with Daily Combined Traffic Counts Exceeding 18k Vehicles.

  • Largest Franchisee in HTeaO System - HTeaO is the Largest and Fastest Growing Iced Tea Operator in the Quick Serve Restaurant Space, focusing primarily on serving Texas Style Refreshing Iced Tea.

  • Directly Across Norman Regional Health System’s Porter Campus - a 29.3-acre Project Aimed at Enhancing Healthcare in Norman. It will include Medical Facilities, Senior Wellness Services, Administrative Offices, and Educational and Community Spaces.

  • Minutes from The University of Oklahoma - a Major Public Research Institution known for its strong Academics, Athletics, and Vibrant Campus Life with over 21k Students Currently Enrolled.

  • Densely Populated and Affluent Area: Features an Average Household Income of more than $80k and over 125k People Residing within a 5-Mile Radius.

  • Minutes from Max Westheimer Airport KOUN - a Public-use Airport Owned by the University of Oklahoma - supporting General Aviation, Flight Training, and Serves as a Base for the University’s Aviation Program, with Facilities for Private and Charter Flights.

  • Walking Distance from Griffin Community Park - a Large Recreational Space Offering Sports Fields, Picnic Areas, Playgrounds, Walking Trails, and a Pond Offering Family Outings, Sports Activities, and Outdoor Relaxation. Near Downtown Oklahoma City - Home to Paycom Center (Oklahoma City’s Thunder NBA Team), Variety of Museums, Theaters, Music Venues, & Restaurants, Providing Residents and Visitors with a Wide Range of Activities to Enjoy.

Listing Contacts

TS
OK 149994, TX 9002994
Marcus & Millichap - Oklahoma City
Listed by Marcus & Millichap - Oklahoma City

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$140,000.00
$11,666.67/mo

Valuation Metrics

0
DSCR
6.75%
Cap Rate
6.75%
ROI

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Additional Information

Name
Tim Speck
License
OK 149994
Title
Broker of Record
Name
Tim Speck
License
149994
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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