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22907515
22907516

1400 NW 23rd Street, Oklahoma City, OK 73106

TS
OK 149994, TX 9002994
Marcus & Millichap - Oklahoma City
Listed by Marcus & Millichap - Oklahoma City
$1,777,777
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 2,527
Cap Rate 6.75%
NOI $120,000
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 0.450
Investment Type Net Lease
Tenant Credit Franchisee

Retail | 6.75% CAP | 2,527 SF

Marketing description

PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:

https://themansourgroup.com/properties/310407/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 21k 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.

  • Strong Daytime Employment Area - Near Numerous Established Business Parks, Office Spaces, Distribution Centers, Industrial and Manufacturing Plants, attracting thousands of employees daily.

  • Adjacent to Oklahoma City University - a Private University known for its Strong Performing Arts, Law, and Business Programs. It Fosters a Vibrant Student Community, Contributing to the Local Culture and Economy.

  • Densely Populated and Affluent Area: Features an Average Household Income of more than $80k within a 1-Mile Radius and over 213k People Residing within a 5-Mile Radius.

  • In Close Proximity to Numerous National Retailers including Walmart Supercenter, Target, Sam’s Club, WinCo Foods, Walmart Neighborhood Market, Lowe’s Home Improvement and many more.

  • In Close Proximity to Numerous Schools including Northwest Classen High School, providing for an Increased Potential Customer Base due to the Daily Commute of Parents, Students, and Teachers. 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
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Annual Debt Service
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Annual Cash Flow
$120,000.00
$10,000.00/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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