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30954496
30954497

2 Locations

DP
OH SAL.2012000748
Marcus & Millichap | The Patel Yozwiak Group
QR
FL Florida: SL3549191
Marcus & Millichap | The Patel Yozwiak Group
DY
OH SAL.2008003600
Marcus & Millichap | The Patel Yozwiak Group
Listed by Marcus & Millichap | The Patel Yozwiak Group
$4,500,000
87 days on market
Updated 87 days ago

Vacant Hooters & Sonic Drive-Thru | Oklahoma City, OK

Details
APN 149853202 & 149853200
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 5,824
NOI $159,879
Occupancy 50%
Tenancy Single
Brand/Tenant Sonic, Hooters
Lease Type NNN
Remaining Term 3
Price per SqFt $773
Broker Co-Op Yes
Year Built 2000/2004
Buildings 2
Stories 1
Acreage 1.810
Ownership Fee Simple

NNN Sonic with 3 Years Remaining | Income-Producing Billboard

Investment highlights

  • SONIC RESTAURANT AND VACANT HOOTERS PROPERTY FOR LEASE ON SEPARATE PARCELS: Sonic has operated at this location since 2000 and was recently remodeled in 2024.

  • SHORT-TERM LEASE REMAINING: Sonic has 3 years remaining on an absolute net lease with five, 1-year renewal options and 3% increases in each option.

  • ADDITIONAL INCOME FROM BILLBOARD LEASE: Billboard located on Sonic parcel generates additional annual income with just under 5 years remaining on billboard ground lease.

  • ABSOLUTE NET LEASE: No landlord responsibilities. Tenant is responsible for everything including roof and structure. Lease is corporately guaranteed by Sonic.

  • FORMER HOOTERS AVAILABLE FOR LEASE UP: Property was built in 2004 with high visibility, pylon sign and large parking lot with easy access from all traffic directions. Contact broker for details.

  • HIGH-TRAFFIC CORRIDOR: Situated on Northwest Expressway near the N May Ave intersection seeing a combined 64,500 vehicles per day.

  • LOCATED IN A EXTREMELY DENSE REGIONAL HOTEL, RETAIL & OFFICE CORRIDOR: Located near multiple national retail tenants such as Home Depot, Target, Dave and Buster’s, Best Buy, Residence Inn, Embassy Suites, Hampton Inn, Holiday Inn, Hilton Garden, Chipotle, AT&T, Walgreens, and More. Directly adjacent to Union Plaza, a large 250,000 square foot class A office tower and near Integris Health Baptist Medical Center, a major 500 bed hospital campus.

  • STRATEGIC REGIONAL CONNECTIVITY: Located 9 miles from downtown Oklahoma City, 1.5 miles from Penn Square Mall and 7 miles from Lake Hefner with easy access to I nterstate 44 and Interstate 235.

  • STRONG LOCAL DEMOGRAPHICS: 5 mile population exceeds 226,800 and is projected to increase by 2028. Daytime population exceeds 33,500 within 1 mile of the property, and 375,300 within 5 miles. Average household incomes exceed $83,300 within 1 mile. Unemployment is below 2% within 10 miles.

Listing Contacts

DP
OH SAL.2012000748
Marcus & Millichap | The Patel Yozwiak Group
QR
FL Florida: SL3549191
Marcus & Millichap | The Patel Yozwiak Group
DY
OH SAL.2008003600
Marcus & Millichap | The Patel Yozwiak Group
Listed by Marcus & Millichap | The Patel Yozwiak Group

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$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$159,879.00
$13,323.25/mo

Valuation Metrics

0
DSCR
3.55%
Cap Rate
3.55%
ROI

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Additional Information

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