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22954657
22954658

594 E Illinois Ave, Vinita, OK 74301

EW
FL CQ1057427
Acropolis Commercial Advisors LLC
Listed by Acropolis Commercial Advisors LLC
$1,500,000
4 days on market
Updated 4 days ago

Scooter's Coffee | 20-Year NNN Lease

Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant (+1)
Square Footage 720
Cap Rate 7%
NOI $105,000
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks, Dunkin' (+3)
Lease Type Absolute NNN
Lease Term 20
Remaining Term 20
Rent Bumps Yes
Lease Options Three (3), Five-Year
Year Built 2022
Stories 1
Acreage 1.050
Investment Type Net Lease
Tenant Credit Franchisee
Ownership Fee Simple

YoY Sales Growth

Marketing description

  • U.S. Highway Location Near Interstate | On the “Going-to-Work” Side

    • All residents must pass Scooter’s to reach I-44

  • Long-Term Abs. NNN Lease at Close of Escrow

    • 20-year Base Term | 10% rental increases every 5 years

  • Seasoned Scooter’s Franchisee

    • Plans for 20+ locations throughout the Tulsa MSA

  • Limited Competition | Vinita’s Only Coffee Drive-Thru Option

    • Closest national competitor 30+ miles away

  • Within Retail Hub with Other National Retailers

    • Walmart Supercenter | McDonald's | O’Reilly Auto | | Dollar Tree

  • Proximity to Traffic Drivers | Local Schools, Office, Industrial

    • 2,000 students | KAMO Power HQ | General Mills, UPS, Coca-Cola facilities

  • Within 1.5 Miles of Major Area Hospitals

    • Cherokee Nation’s 2nd largest Health Center

  • Near Planned $2B+ Disney-Sized Theme Park | Complete in 2028

    • 1,000+ acres | Hotel, RV park & campground, film & TV studio

Investment highlights

Tulsa-Based Franchisee | Long-Term 20-Year Abs. NNN Lease | 10% Rental Increases

  • Upon the close of escrow, the franchisee will execute a 20-year Absolute NNN lease which will provide for 10% rental increases every five years and zero landlord responsibilities.

  • The franchisee is Tulsa-based, ensuring operational oversight and efficiency, with plans for over 20 total Scooter’s locations throughout the metro area. The franchisee has been in the Scooter’s system since 2021 and is backed by the founder and managing partner of Argonaut Private Equity, a Tulsa-based private equity firm with $2.9 Billion AUM.

Premium U.S. Highway Location | Strong Potential for Recurring Customer Base | Positioned On the “Going-to-Work” Side

  • The Scooter’s is situated on a large 1-acre parcel along E Illinois Ave, a major thoroughfare for Vinita as it is a part of U.S. Highway 60.

  • The Property is strategically positioned on the “going-to-work” side as U.S. 60 serves as the primary and quickest mode of travel into Tulsa, OK and Joplin, MO, where the area’s major employers are located.

  • S. 60 leads a half mile south to on/off ramps for Interstate 44, which provides access to Tulsa, OK and Joplin, MO, both of which are within 1 hour of the Property.

  • This is the only I-44 exit in Vinita, creating a greater potential recurring customer base. The Property is conveniently located such that virtually all of Vinita’s residents live north of the Property and must pass when going to/from I-44.

Limited Competition | Vinita’s Only Coffee Drive-Thru Option | Closest National Competitor 30 Miles Away

  • The Property benefits from extremely limited competition with no national or local drive-thru coffee competitors in or around Vinita.

  • The closest national competitors are located approximately 30 miles away, providing for a strong potential customer base.

Excellent Synergies Among National Retailers

  • S. Hwy 64 serves as Vinita’s main retail hub and is home to a host of national retailers.

  • Within a half mile of both directions are Walmart Supercenter, AutoZone, Sonic Drive-In, Taco Bell, Pizza Hut, O’Reilly Auto Parts, McDonalds, Dollar Tree, in addition to many others.

Strong Daytime Synergies | Local Schools | Hospitals | Office, Industrial & Manufacturing Facilities

  • The Property is located within 1.5 miles of 2 major area hospitals, Saint Francis Hospital Vinita and Cherokee Nation Vinita Health Center.

    • Cherokee Nation Vinita is the 2nd largest Health Center for the Cherokee Nation, lending to its importance for the greater community as the Cherokee Nation is 43 miles away.

  • The Property is less than 2 miles away from the corporate headquarters of KAMO Power, a major energy supplier for Missouri, Northeast Oklahoma and Southern Iowa.

  • The Property is just 2 miles away from industrial and manufacturing facilities for major companies which include but are not limited to General Mills, UPS, Coca-Cola Bottling, and more.

  • The Property sits in close proximity to all of Vinita’s local schools which include Attucks (221 students), Will Rogers Elementary (595 students), Ewing Halsell Middle (307 students), Hall-Halsell Elementary (420 students), and Vinita High (419 students).

6 Mi to Planned $2+ Billion Disney-Sized Theme Park | 1,000+ Acres | Open 2028

  • 6 miles (8 minutes) east of the Property off of U.S. 60 is a planned $2+ Billion theme park, American Heartland, which is attract more than 4.9 million guests annually.

  • The park is currently under development of a 320-acre RV park and campground that broke ground late 2023 and will span over 1,000 acres once complete in 2028. The theme park will rival the sizes of Disney’s Magic Kingdom and Disneyland while the RV park will be the largest campground in the central U.S. once complete.

  • In addition to the theme and RV parks, there will also be a 300-room hotel and a film & television studio.

Listing Contacts

EW
FL CQ1057427
Acropolis Commercial Advisors LLC
Listed by Acropolis Commercial Advisors LLC

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$105,000.00
$8,750.00/mo

Valuation Metrics

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DSCR
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Cap Rate
7%
ROI

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Additional Information

Name
Brian Brockman
License
177814
Brokerage
Bang Realty-Oklahoma Inc
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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