Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Oklahoma City
$3,973,801
Cracker Barrel: Edmond, OK
Details
Property Type Retail
Sub Type Restaurant
Square Footage 9,646
Cap Rate 6.05%
NOI $240,415
Occupancy 100%
Tenancy Single
Brand/Tenant Cracker Barrel
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 07/31/2040
Remaining Term 14.2
Rent Bumps Yes
Lease Options Ten, 5-Year Options
Year Built 1997
Acreage 2.860
Parking Spaces 139 spaces
Parking Per SqFt 14.41
Investment Type Net Lease
Lease Commencement 08/04/2020
Retail | 6.05% CAP | 9,646 SqFt
Marketing description
The CBRE Net Lease Property Group is pleased to offer for sale the 9,646-square-foot Cracker Barrel Old Country Store situated on 2.86 acres in Edmond, Oklahoma — part of the Oklahoma City MSA (MSA Population: 1.47M+). Cracker Barrel's absolute NNN lease features ±14.3 years of primary term remaining with 1% annual rent increases throughout the remainder of the term and in each of the ten, 5-year renewal options (six fixed renewal terms, followed by four FMV renewal terms).
Investment highlights
- Absolute NNN Lease with Annual Rent Increases: Cracker Barrel's absolute NNN lease features ±14.3 years of primary term remaining with 1% annual rent increases throughout the remainder of the term and in each of the ten, 5-year renewal options (six fixed renewal terms, followed by four FMV renewal terms).
- Strong Performance | Low Rent-To-Sales Ratio: This Edmond location is an excellent performer with strong sales and a low rent-to-sales ratio.
- Top Visited Location | #2 Cracker Barrel in the State of Oklahoma: By visits, this Edmond location ranks among the top 13% of Cracker Barrel's in the state of Oklahoma, and the top 15% nationwide, according to Placer.ai.
- Excellent Interstate Access & Visibility: Cracker Barrel is prominently located along NE 122nd Street (3,200 VPD), directly off Interstate 35 (79,200 VPD)—one of Oklahoma’s primary north-south transportation corridors. Additionally, the property is a half mile south of Interstate 35's junction with Interstate 44 (39,757 VPD), offering direct connectivity to Oklahoma City (12.5 miles southwest) and Tulsa (107 miles northeast).
Listing Contacts
Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Oklahoma City
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$240,415.00
$20,034.58/mo
Valuation Metrics
0
DSCR
6.05%
Cap Rate
6.05%
ROI
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